By: Art Cablestein
Panama is definately a fertile spot to plant your offshore assets. You can't go wrong by choosing Panama for your offshore banking needs with its iron clad foundation/corporation asset protection structures, excellent secrecy laws, US dollar based economy, stable government and the fact that it has no tax or legal treaties with any other countries. Yes the international community is going to Panama for its offshore banking needs and with good reason.
Utilizing Panama offshore asset protection structures allows a person the ability to layer their protection through the use of nominee directors and bearer shares.
A Panama Corporation issues share certificates known as Anonymous bearer shares. Whoever possesses these share certificates physically is considered the owner of this corporation.
A offshore foundation formed in Panama cannot be owned by an individual and has no names associated with it when it is founded. While an offshore foundation in Panama can own assets, it cannot conduct business transactions.
Foundations are extremely useful for business even though they cannot directly perform business transactions. A Panama foundation can own a Panama corporation which allows for an extra layer of asset protection and anonymity.
Banking secrecy laws in Panama rate near the top globally and are strictly enforced by the government and institutions in Panama.
The economy of Panama is the only one in Latin America which is tied to the US dollar making it particularly attractive for business men who utilize this currency in their transactions.
The real advantage to utilizing Panama for offshore asset protection is that Panama's government has no tax treaties or Mutual Legal Assistance Treaties with any other countries in the world.
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Get more information about asset protection strategies and panama offshore corporations & offshore foundations at OffshoreLegal.org.
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