Panamanian popular offshore.
Panama is one of the most popular offshore jurisdictions in the world. Panamanian popular offshore.
Specific characteristics of this offshore attract a lot of businessmen and entrepreneurs that in turn result in its thriving banking centre.
Firstly, there is no minimum limit to capital allocation.
Secondly, bank accounts in Panama can be registered simply under a number, a specific code or even a different name retaining the privacy of the account holder.
Moreover, the legislation in Panama is very strict on personal data disclosure and ensures complete anonymity. You can choose not to disclose any sort of information about yourself in the statutes, because this jurisdiction can provide a professional, whose name will appear in all of the documentation, but he will have no legal right of conduct of affairs in the company.
The advantages don’t stop there. This jurisdiction is one of the simplest in terms of creation of a business and the conduct of its affairs. There are no strict rules on accountability, in fact, the timing of its delivery are entirely at the discretion of the offshore organisation.
Furthermore, there is no requirement for annual meetings or provision of bookkeeping data of a company.
A corporation registered in Panamanian offshore will benefit from huge savings on tax as the payment is annual in the amount of one hundred dollars.
One must also mention that the directors need not to be citizens of the country.
Such system is governed by two laws, which were adopted in the late twenties of the last century. It is based on the law of Delaware.