Establishing a Company in Panama and Corporate Support
Panama International Business Corporation (IBC) Company Formation
The jurisdiction of Panama is one of the world’s most popular for foreign investors because of the benefits it offers in terms of privacy and tax benefits. Foreign companies who are interested in incorporating their business in Panama have a great benefit because it offers extensive confidentiality for companies and business owners can leverage it. The procedure of company register is not part of the Panama process by which the details of the company are not showcased to the public, and shareholders have the liberty to enjoy all sorts tax exemptions including the local taxes, duties, income tax, capital gains, and even the corporation tax. Apart from several other benefits the best thing is the tax advantage as it has follows the territorial tax system. In simple words, you are not charged any tax for the income generated outside of Panama.
The rules and regulations is applicable on the income of personal and company. For all kinds of maritime business and privacy laws, Panama is a great place known to all. The stability of political system in Panama is one of the great thing for foreign investor. Apart from 140 other industries in Panama, banking and shipping are the two important industries which are good to choose from. The most common form of company incorporation type in Panama chosen by foreign investors are the company limited by shares. The companies are setup as per the law number 32 formed in 1927 as well as the commercial code (Decree-Law No. 5 of 1997, Article 5).