International Business Company
The International Business Company is one of the most appreciated instruments for the asset protection.
All assets on Company name (e.g. real estate, ships, aircraft, shares, property rights, image rights, etc.) form part of the Company’s assets, that are separated from the Shareholders’ assets, because the Company is a separate legal entity that owns the assets of the Company. So Shareholders and their creditors have no direct rights to the assets of the Company, and Company’s creditors cannot make claims against Shareholders.
Panamanian law favors Companies with provisions relating to:
- Constitution and Managing
In the Public Registry only appear the names of subscribers, directors, resident agent and legal representative. So no mention is made of the owners of the Company.
Constitution and Managing:
- The constitution of the Company can be done simply with the transmission of the documents without being physically present in Panama.
- The share capital does not have to be paid up at the time of incorporation
- Additional clauses can be easily incorporated
- The Board of Shareholders and the Board of Directors can meet remotely
- Corporate positions do not necessarily have to be held by Panamanians.
- Objects clauses are not to be specified in detail, but must not be illegal, immoral or opposed to public policy.
- Companies can earn income anywhere in the world, without having to demonstrate profits in Panama.
- Income produced abroad is exempt from taxes in Panama (territoriality principle)
- Companies pay only a Flat Annual Fee of USD 300.00
- The income tax in Panama is 25%.
Other advantages are that the law does not require a permanent offices and departments in the territory of the Republic of Panama. Companies only need a Head Office to receive communications. Sometimes this address is that of the Firm that advises the Company, as well as, for foreign Companies, the resident agent normally coincides with the Firm.
Maltinti y Asociados offers its clients a full range of services for the management of the Company, such as tax or legislative updates, measures to protect the interests of Directors and Shareholders of the Company and advice for corporate operations.