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!

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

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

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

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

No Vite - your not biased, just honest :winkwink:

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 :)

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.

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

Webby is the KING of offshoring knowledge :winkwink:

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

Thanks!

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 :winkwink: :thumbsup

Hitting you up man :thumbsup

Nada problemo DWB - be with you shortly :thumbsup

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

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

sultanofsmut ~at~ gmail dot com :)

OK.. Hitting you up DWB..