subject: Panama Corporation [print this page] Panama corporations are increasing in popularity everyday. Panama corporations have a lot of advantages associated with them. The major advantages that such companies offer is that of confidentiality and security, not to mention the observable cost benefits.
Under Panamanian law, Panama corporations are exempted from reporting requirements. Also all business functions undertaken outside the territorial limits of Panama will not be subject to taxation. Panama Corporations also have the added benefit of a minimal government fee of just $300.
One of the most striking qualities of a Panama Corporation is that there is no opening capital requisite for it. The company can be started with as little capital as possible. The government also has no objections with foreigners controlling or forming such Panama Corporations.
Another unique feature of Panama Corporations is that they are allowed to issue shares in the bearer form. This means that the ownership of the share lies in the hands of the holder. This allows a greater degree of confidentiality as no names are involved.
Some other advantages of such corporations are that they are able to have their shareholders and directors meetings anywhere in the world. There are no limitations regarding the meetings having to be held in the head office or registered office, etc. Also, there are no geographical restrictions as to where the books of accounts need to be kept. Furthermore, there are no restrictions about the registered agent having to keep any records at all.
These are some of the prime reasons for these corporations becoming so popular in the recent past.
