Advantages of incorporation of companies in Panama:

• Advanced legislation in line with contemporary international financial business.
• The personal presence of beneficiaries is not required for the incorporation of a company as the procedure can be completed remotely.
• High confidentiality standards exist with Panamanian laws defining any internal documentation as confidential and it cannot be requested by third parties, including government authorities of Panama or other countries.
• There are no requirements for minimum or maximum share capital and the capital may be denominated in any currency.
• Companies may be set up with only one shareholder resident in any country who is either a natural person or a corporation.
• A nominee (director, shareholder or secretary) may be used within the corporate structure.
• The opening of a bank account does not require a personal visit to the bank by the company representative.
• There are no exchange controls.
• Bearer shares and shares without par value are permitted.
• Company administration is straightforward and with minimum staff.
• Companies with no business activities in Panama are exempt from taxation. There is no wealth or inheritance tax.
• There is no requirement for the submission of financial statements by companies with no business activities in Panama and there are no annual auditing requirements.
• Non-resident companies are not required to hold annual meetings of the directors and shareholders, but if meetings are wanted they may be held in any country.
• There is a perfect infrastructure with highly professional banking, accounting and legal services.
• The jurisdiction enjoys economic, political and social stability.