Panama is a country in Central and South America, situated on the Panama isthmus between the Caribbean Sea and the Pacific Ocean.

Area – 78 200 km²

Capital – Panama City

Government – Presidential Republic

Offshore registration is widely developed in Panama. There is a good infrastructure, transport system, a wide network of national and international banks.

The New York Times listed Panama as a top place to go in 2012.

Panama’s economy is based primarily on a well-developed service sector, which accounts for 3/4 of its GDP. Services include the Panama Canal, banking, the Colón Free Trade Zone, insurance, container ports, and flagship registry and tourism.

Panama is located at the crossroads of the world’s sea communications and is one of the largest international trade and financial centers.

Benefits of offshore registration in Panama:

  1. income obtained outside Panama is not taxable;
  2. no currency control;
  3. stamp duty is not charged;
  4. legally secured anonymity of the highest level in the offshore world;
  5. the capital declared at the registration is not payable;
  6. no accounting report;
  7. annual meetings of directors or shareholders are not required;
  8. audits are not required.

Panama is the offshore that has been operating for decades. The legal system is based on Spanish civil law and corporate law is built on Delaware’s model that provides maximum flexibility for business.

Panama offshore has the following requirements to companies:

  1. a company must have three directors and the president, treasurer and secretary;
  2. the availability of the registry of shareholders with their names, addresses and dates of acquisition of securities;
  3. a registered office is required;
  4. keeping minutes of meetings;
  5. fixed annual franchise tax is charged. The taxes unpaid timely result in a fine and, consequently, can make the offshore in Panama inactive.