Panama Tax Haven

The Republic of Panama is a presidential independent, sovereign state. It is well known as one of the most developed international business center. Panama has the fastest growing economy and the largest per capita income in Central America.

Our professional company offers Panama corporations and Panama private foundations, which include all documents and services you need to start and successfully operate your offshore business. Panama corporation is also commonly termed as Panama International Business Company (IBC).

Panama Corporation - $1,000

Set up Panama IBC in 1 day. Annual Fee is $800.

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Panama Foundation - $1,100

Establish Foundation in 1 day.

Annual Fee is $800.

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Advantages of Panama

Independent jurisdiction
Exemption from all local taxes for income received outside of Panama
Panama companies have no restriction on doing business in Panama
High level of privacy protection
Well developed financial services industry
Well developed professional infrastructure
Excellent telecommunications system
Easy air access to North America
No foreign exchange restrictions
Citizenship programs are available for investors.

Taxation

No income, dividend and capital gains tax for for income received outside of Panama. Therefore, Panamanian corporations (Sociedad Anonima) are widely used for doing business and holding assets outside of Panama.

Privacy and Disclosure

The laws of the Republic of Panama only permit the submissions of accounting records, files, correspondence or other documents to foreign authorities with the express permission of the Courts of Panama. Information sharing treaties are limited to drug-related offences. All other revelations are expressly prohibited and may result in criminal prosecution.

There are no tax treaties. As a result, no exchange of tax related information with other countries is possible.

Currency

The official currency is the Balboa (PAB). It has a fixed exchange rate with US Dollar, which is US$1.00 = PAB1.00.

US Dollar is the major currency in Panama.

Transfer of Funds

There are no currency exchange and transfer of funds controls in Panama.

No approval need be obtained for the transfer of dividends, interest, royalties other profits or for repatriation of capital. Companies are permitted to repatriate all profits, dividends and management charges.

Political System

Panama is an independent constitutional presidential republic. President, first and second vice-presidents are elected by direct vote for 5 years.

Legal System

The legal system is based on civil law system.

Geographic Location

Panama is located in Central America between Costa Rica and Colombia. It's connected by direct flights with many major cities of US, Canada and other countries.

Panama City is the capital of the Republic of Panama. Local time: GMT - 5:00.