Panama Bearer Share Corporation Advantages:
Panama is the only place in the world where you can form a truly anonymous bearer share corporation. Under Panama law a bearer share corporation can be formed that is owned by the possessor of the physical certificates of stock with no recorded owner on record anywhere. This is a bearer share corporation. They have mostly been eliminated in the world since 9-11.
In Panama there is just plain and simple no registry with any ownership records for a bearer share corporation, so no one can access something that does not exist. True the lawyer could be contacted who formed the corporation in Panama but this would require a serious court proceeding to violate attorney client privilege, with lots of cause and of course the attorney would be duty bound to oppose such a court order. Violating attorney client privilege is a far more serious matter in the eyes of any court than requiring client records from a corporate registration agent so be careful to not trust your privacy to other than a law firm. Panama has 400,000 corporations registered, most of which will quickly leave if they see the courts violate privacy. Each corporation pays $300 a year in tax, which totals $120,000,000 and this, is for a country with 2.9 million people. The Panama Canal only nets Panama about $335,000,000 and requires 9,000 employees. How many people are required to run a corporate filing dept., maybe 200? Panama is a country very unlikely to violate corporate privacy.
No Corporation Ownership Registry in Panama
The lawyer in Panama may only have knowledge of the person who formed the company but not knowledge of others he or she may have transferred the corporation to since formation. Such transfers need not be reported and the new owner(s) need not be on file anywhere they just need to have the shares of the corporation physically. The transfer process could be completed in minutes if not seconds. The new owner(s) may reside outside of Panama, the new owners could be a corporation, foundation or be a trust in another country, etc. making any trails extremely difficult, time consuming, expensive and in general for most people not feasible to follow especially when you consider that no one really knows how many times the ownership may have been transferred. There is no ownership database for anyone to snoop into period. Thus the possibility of a fishing expedition is non-existent. The nominee Directors can be appointed and thus are not owners and their names are recorded publicly. The new owner can replace the directors with his own directors at will. Anonymous Corporate Ownership of Assets
A Panama bearer share corporation can own bank accounts, real estate, boats, planes, cars, art, jewelry, businesses, and other valuable assets all without revealing the actual natural persons who own the corporation. Additional complex strategies can be employed using the lawyer to perform certain functions for the corporation. In Panama there is strong privileged communication between the attorney and the client.
Panama Corporation Banking
A bank anywhere in the civilized world will require a beneficial owner for any bank account and will also require identity documents for that person so the bearer share Corporation may not be able to conduct banking matters completely anonymously. In Panama there is serious bank secrecy laws in place providing for criminal and civil penalties. The Panama Bank Secrecy Laws combined with the Bearer Share Corporation formed in Panama using a world class Panama Bank provides the most secure and private asset protection scenario currently available in the world.
Your attorney may act as your agent and collect rents on an apartment building or office building your bearer share Corporation owns to keep the ownership of the property concealed from the tenants and others. The attorney merely forwards the rent proceeds to you or wires them to your bank account anywhere in the world. This is perfectly lawful in Panama. Your attorney could handle an auction where your corporation sells its art collection. The attorney collects the auction proceeds and forwards them to your bank anywhere in the world. Your attorney can buy or sell a yacht for your bearer share Corporation, handle the yacht registration in Panama and you can go sail around the world with your corporate stock certificates locked up in a vault box in your Panama bank.
Panama bearer share corporations can be completed in 2-3 business days after all the information is submitted.
Panama Corporation Unique Tax Benefits
One benefit is there is no tax imposed by Panama on any offshore derived income and there is not even a need to file any tax returns for the corporation if all the income was offshore derived. If you maintain an office in Panama, have a phone in Panama, have a Panama Corporation, and even have a bank account for the corporation in a Panama Bank yet there is still no need to pay taxes or even file tax returns if all the income is offshore sourced, in other words your income comes from payments made to you in Panama from entities not in Panama. For example if you decide to open a hot dog stand in Panama then you would need to pay taxes on this income since it would be derived from within Panama. If you sold goods to customers who were not in Panama and they wired you money into your Panama bank account from outside of Panama this would be offshore derived non-taxable income.
Panama Corporation Privacy
There is no registry in which to record owners of Panama Bearer Share Corporations. There is also no registry to record transfer of the corporation ownership. Even if one had a court order or subpoena from a Panama Court there is no registry to serve the court order on. To transfer the ownership of the Bearer share Corporation one need only hand the new owner the stock certificate. You could transfer ownership 12 times a day if you wanted to without reporting it anywhere or to anyone in the world.
Panama Corporation and Real Estate Ownership
Anonymous Panama Corporations may own property anywhere in the world. To sell the property one merely transfers the shares of the corporation along with a bill of sale signed by the nominee directors who don’t know who you are. This could reduce taxes resulting from the sale of the property, since the property is not really being sold it is the corporation that owns the property that is being sold, the property is still owned by the same corporation. Remember there is no reportage of the sale of the corporation required in Panama. A Panama Corporation (or Foundation) can own real estate anywhere in the world and this makes the ownership anonymous. You can transfer real estate (or a car, boat, plane, art collection etc.) to the Panama Corporation in return for an annuity You could also arrange for your Panama corporation to make a loan against the real estate (or boat, plane, art collection etc.) thus removing the equity in the property sheltering it from potential financial enemies. You could even do this with a line of credit secured by a mortgage for the line of credit which you need not ever draw on. The Panama Corporation can own income producing property anywhere in the world and could collect rents (if the property is not in Panama would be tax free income to the corporation), hire property managers, etc.
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