subject: Offshore Companies Can Keep Prying Eye Away From Your Assets [print this page] Offshore companies are incorporated in countries that protect their privacy. The basic
purpose of these companies is to reduce the amount of tax they pay in their own country.
The second reason is to protect their privacy and their assets from prying eyes like their
ex-business partners, ex-spouses, and big brother. There are many places around the
world where offshore companies can be set up.
One of these countries is Panama. The advantage of starting a company in Panama is
that the laws are very strict about ones privacy; in fact it is a constitutional right. The
second advantage is that the people can speak many languages other than the official
language Spanish. This is very advantages for those who do not know Spanish. The tax
collected by the Panamanian government is very low when compared to other countries.
The presence of the Panama Canal makes it an international country. The number of
regulation laws in Panama is very low and there are very few people if any in Panama
who will tell you how to run your business.
One must however find a good law firm that will help one with all the regulations and the
paper work needed in setting up an offshore company. The firm will also guide you how
to avoid any pitfalls in the law.
There are many such firms, but be wary as there are people in Panama who are out to
