The only place in the world where you can see the sun rise on the Pacific and set on the Atlantic. Home to over 10,000 different plants species, including 1,200 varieties of orchids, 678 ferns and more than 1,500 varieties of trees. Want to explore more of it? Welcome to Panama.
Ø officially called the Republic of Panama is a country in Central America situated between North and South America
Ø Capital city is Panama city, home to more than 4 million people
Ø Panama's official currency is the balbao. One balboa is equal to one US dollar. But despite having their own currency, dollar is the most used one
Panama and business.
- Panama’s official language is Spanish, but 80% of the population is bilingual, so English is a second most used language
- Commerce, banking, and tourism are major and growing sectors in Panama‘
- High level of asset protection and Financial privacy, which is one of the bullit points for every businessman
- No minimum capital requirements, so no big investment is required at the very beggining
- Both registered and bearer shares are allowed
- Good taxation systém. Reduction or elimination of income taxes. No inheritance, succession or gift taxes
- Registered agent is a mandatory, but no requirements for local registered offices.
- High level of anonymity, nobody will know, who owns the company and who is the director, it’s not open for public
- A minimum of 3 directors are needed for incorporation, no requirements to the number of shareholders, and any nationality can owe a company or be a director
- Good news! No annual tax return requirements
- No taxes on capital (stocks, bonds and other investments) held by Panamanian corporations
- No accounts or annual summaries have to be filed with the Government, with the exception of the annual franchise tax filed by the registered agent.
- The Colon Free Trade Zone offers unique opportunities for the duty free storage, repackaging and reshipment of goods of all sorts.
- Small bureaucracy
- No limitations on the amount of import/export
- The name of the corporation can be expressed in any language and shall include a word, phrase or abbreviation to indicate that it is a corporation as distinguished from a natural person or partnership. The most common endings include S.A, Corp., Incorporated, Inc. The words Limited or Ltd. are not sufficient by themselves.
Panama is considered as the best place for retirement, most retirees are real estate owners and buyers. But it doesn’t matter if you are willing to retire or you are only at the very beggining of your path, Panama welcomes everyone!