Incorporating in Panama? - GoFuckYourself.com

The Sultan Of Smut · 09-20-2006, 05:57 PM

I've been looking into a few jurisdictions and Panama sounds like the best. Can anyone provide any insights or possibly suggest a quality law firm? I've done some searching here and with google but I'd like to hear some first hand opinions if you have them!

Vite · 09-20-2006, 05:57 PM

Panama is the best place to incorporate, I may be biased though...

squishypimp · 09-20-2006, 06:02 PM

never needed to incorporate in panama yet, but bump for more info.

BJ · 09-20-2006, 06:03 PM

Quote:

Originally Posted by squishypimp

never needed to incorporate in panama yet, but bump for more info.

http://www.gofuckyourself.com/search...earchid=781175

The Sultan Of Smut · 09-20-2006, 06:06 PM

Quote:

Originally Posted by PureMeds

http://www.gofuckyourself.com/search...earchid=781175

Crappy search link didn't work, search didn't work for most of mine

Webby · 09-20-2006, 06:09 PM

Quote:

Originally Posted by Vite

Panama is the best place to incorporate, I may be biased though...

No Vite - your not biased, just honest

Webby · 09-20-2006, 06:14 PM

Quote:

Originally Posted by The Sultan Of Smut

I've been looking into a few jurisdictions and Panama sounds like the best. Can anyone provide any insights or possibly suggest a quality law firm? I've done some searching here and with google but I'd like to hear some first hand opinions if you have them!

Can I ask a question? What's with the "quality law firm" stuff? You may have some complex scenario in mind (in which case you may well need one), but otherwise there is hardly a need for any law firm to accquire a Panama corp and, if wanted, get nominees and a reg office. Just go direct to a formation agent in Panama - it's both cheaper and chances are your corp will be founded within 14 days - complete with nominees if you want them.

The Sultan Of Smut · 09-20-2006, 06:24 PM

Quote:

Originally Posted by Webby

Can I ask a question? What's with the "quality law firm" stuff? You may have some complex scenario in mind (in which case you may well need one), but otherwise there is hardly a need for any law firm to accquire a Panama corp and, if wanted, get nominees and a reg office. Just go direct to a formation agent in Panama - it's both cheaper and chances are your corp will be founded within 14 days - complete with nominees if you want them.

Great info Webby! What I meant by "quality" is simply a law firm that someone can vouch for rather than having to choose one one with a circa 1999 website that I found with a google search. What I'm looking for isn't going to be complex so I think I'll look into doing it myself

Webby · 09-20-2006, 06:40 PM

Quote:

Originally Posted by The Sultan Of Smut

Great info Webby! What I meant by "quality" is simply a law firm that someone can vouch for rather than having to choose one one with a circa 1999 website that I found with a google search. What I'm looking for isn't going to be complex so I think I'll look into doing it myself

Just noticed you are in Canada - that kills any US/IRS bullshit problems.

OK... Quick overview - this may suit or not. A corp can be formed in under 14 days. Along with the paperwork is a POA (power of attorney), the usual articles of incorporation and an apostille (certificate of good standing). The POA gives you complete control over the corp - ie to buy boats, property, open X bank accounts blah. If you are using nominees - they don't feature in any aspect of your corp operation - you are in complete control. Nominees do not want (and should never get) any information about the "inner operations" of the corp or whether it has bank accounts or not. The nominees are usually Panamanian lawyers or justices. Under Panamanian law a nominee is given immunity from any potential legal/criminal action by a future corp beneficiary - so they have no problem passing over a POA and no interest in the future activity of the corp. There are some annual costs - think around $200 in Panamanian govt fees.

Ah.. tho can be different if you so choose - it's normal to have bearer shares with the corp - ie whoever is in possession of these shares is the legal owner of the corp. There are no tax filings required in Panama and no need for your name/data to appear on any public records within Panama. It is also a criminal offense for a bank/lawyer/agent to disclose corp data to a third party.

You on ICQ? I have a formation agent we use regualarly - they are the "actual" formation agents and the corp formation costs are often a lot less than on some weirdo websites. Lawyers often buy corps from them, but charge a lot more. Think the current costs are around $700, but may be less, depending if you don't want nominees and registered office stuff.

The Sultan Of Smut · 09-20-2006, 06:45 PM

Wow that was a great writeup Webby! My ICQ is 245-875-356 and I'd love to discuss more

Mpegmaster · 09-20-2006, 06:46 PM

Webby is the KING of offshoring knowledge

DWB · 09-20-2006, 06:49 PM

Quote:

Originally Posted by Webby

Just noticed you are in Canada - that kills any US/IRS bullshit problems.

OK... Quick overview - this may suit or not. A corp can be formed in under 14 days. Along with the paperwork is a POA (power of attorney), the usual articles of incorporation and an apostille (certificate of good standing). The POA gives you complete control over the corp - ie to buy boats, property, open X bank accounts blah. If you are using nominees - they don't feature in any aspect of your corp operation - you are in complete control. Nominees do not want (and should never get) any information about the "inner operations" of the corp or whether it has bank accounts or not. The nominees are usually Panamanian lawyers or justices. Under Panamanian law a nominee is given immunity from any potential legal/criminal action by a future corp beneficiary - so they have no problem passing over a POA and no interest in the future activity of the corp. There are some annual costs - think around $200 in Panamanian govt fees.

Ah.. tho can be different if you so choose - it's normal to have bearer shares with the corp - ie whoever is in possession of these shares is the legal owner of the corp. There are no tax filings required in Panama and no need for your name/data to appear on any public records within Panama. It is also a criminal offense for a bank/lawyer/agent to disclose corp data to a third party.

You on ICQ? I have a formation agent we use regualarly - they are the "actual" formation agents and the corp formation costs are often a lot less than on some weirdo websites. Lawyers often buy corps from them, but charge a lot more. Think the current costs are around $700, but may be less, depending if you don't want nominees and registered office stuff.

Hey Webby,
Por favor, can you hit me on ICQ when you get some free time?

Thanks!

Webby · 09-20-2006, 06:51 PM

Quote:

Originally Posted by Mpegmaster

Webby is the KING of offshoring knowledge

How you doing man?

When immigration find your files under a load of cardboard cartons in a dusty warehouse - get over here and, you too, can have 200 Panama corps

Webby · 09-20-2006, 06:52 PM

Quote:

Originally Posted by The Sultan Of Smut

Wow that was a great writeup Webby! My ICQ is 245-875-356 and I'd love to discuss more

Hitting you up man

Webby · 09-20-2006, 06:53 PM

Quote:

Originally Posted by DirtyWhiteBoy

Hey Webby,
Por favor, can you hit me on ICQ when you get some free time?

Thanks!

Nada problemo DWB - be with you shortly

The Sultan Of Smut · 09-20-2006, 07:30 PM

Quote:

Originally Posted by Mpegmaster

Webby is the KING of offshoring knowledge

You for got to capitalize "the", Webby is THE KING of offshoring knowledge!!!

Daruma · 09-20-2006, 07:39 PM

Quote:

Originally Posted by The Sultan Of Smut

Can anyone provide any insights or possibly suggest a quality law firm?

shoot me your email - I've got one of the top ones there

The Sultan Of Smut · 09-20-2006, 07:51 PM

Quote:

Originally Posted by Daruma

shoot me your email - I've got one of the top ones there

sultanofsmut ~at~ gmail dot com

Webby · 09-20-2006, 08:53 PM

Quote:

Originally Posted by DirtyWhiteBoy

Hey Webby,
Por favor, can you hit me on ICQ when you get some free time?

Thanks!

OK.. Hitting you up DWB..

09-20-2006, 05:57 PM	#1
The Sultan Of Smut Confirmed User Join Date: Dec 2004 Location: Vancouver Posts: 4,325	Incorporating in Panama? I've been looking into a few jurisdictions and Panama sounds like the best. Can anyone provide any insights or possibly suggest a quality law firm? I've done some searching here and with google but I'd like to hear some first hand opinions if you have them!

09-20-2006, 05:57 PM	#2
Vite Confirmed User Join Date: Jul 2006 Location: PANAMA Posts: 278	Panama is the best place to incorporate, I may be biased though... __________________

09-20-2006, 06:02 PM	#3
squishypimp PostMaster General Join Date: Aug 2006 Posts: 10,781	never needed to incorporate in panama yet, but bump for more info. __________________ Signature For Sale

09-20-2006, 06:45 PM	#10
The Sultan Of Smut Confirmed User Join Date: Dec 2004 Location: Vancouver Posts: 4,325	Wow that was a great writeup Webby! My ICQ is 245-875-356 and I'd love to discuss more

09-20-2006, 06:46 PM	#11
Mpegmaster Confirmed User Join Date: Nov 2002 Posts: 2,300	Webby is the KING of offshoring knowledge