Canada residents: start your offshore company in Panama with Legal Solutions

If you are from the Canada, Panama has become an attractive destination for establishing offshore companies due to its favorable legal framework, tax system, and strategic location. All these features allow companies to be established in Panama and operate actively in other countries.

Features and advantages of a offshore company

A offshore company refers to a business entity that is officially incorporated in one country but operates in another. This configuration offers a range of attractive benefits, such as safeguarding assets, ensuring confidentiality, and delivering significant tax benefits to its proprietors.

For overseas entrepreneurs keen on broadening their business horizons globally, forming a offshore company in Panama could serve as a vital strategic asset. Situated in regions with advantageous legal and tax structures, these entities offer a host of benefits that can enhance the expansion and profitability of their investments. The professionals at Legal Solutions are well-equipped to assist you in establishing your offshore enterprise.

Advantages of establishing an offshore company in Panama

One key factor contributing to Panama’s appeal as a prime location for forming a offshore company is its robust and sophisticated legal system, defined by the Corporations Law of 1927. This legislation offers versatility in setting up and running such entities across various aspects.

Panama’s tax system means that offshore companies only pay taxes on profits generated within the country, which can result in significant tax savings for companies operating abroad. Additionally, its favorable strategic location facilitates access to the markets of Latin America and the Caribbean, representing an invaluable business opportunity for companies with expansion plans.

Panama also guarantees a high level of confidentiality by protecting the identity of shareholders and directors, without requiring the disclosure of financial information. Lastly, the costs of establishing and maintaining offshore companies in Panama are competitive compared to other similar jurisdictions.

What is needed to create an offshore company in Panama?

To form your offshore company in Panama, you simply need to fulfill the following criteria:

• Personal paperwork: a copy of the valid passport for all shareholders and directors of the corporation (a minimum of 1 shareholder and 3 directors). Furthermore, the residential address for all shareholders and directors is essential.

• Forms: completion of the Know Your Customer (KYC) Form is mandatory to confirm the identities and funding sources of the involved parties. Additionally, submission of the Company Formation Form is necessary to provide fundamental details about the company, such as its name, goals, share structure, along with the Due Diligence Form that requests information regarding the shareholders, directors, and business activities.

• Supplementary records: in the event that the shareholder is a Panamanian company or legal entity, a valid Public Registry Certificate (issued within the last three months) is obligatory. If the establishment is overseas, you must present a valid Public or Commercial Registry Certificate from that specific country (issued within the last three months) duly apostilled.

Remember, these are the basic requirements for establishing an offshore company in Panama. It is advisable to consult with specialists in the field, such as the team at Legal Solutions, to receive personalized guidance and ensure that all legal requirements are met.

Grow your enterprise in Panama with Legal Solutions

For Canadian residents, Legal Solutions is a legal firm well-versed in forming offshore companies, boasting extensive expertise and dedicated departments. Their commitment is to streamline these procedures, offering top-notch guidance for the effective establishment of your business operations in Panama.

Thinking about investment opportunities in Panama? Check out their site for further details. Get in touch with an advisor to address any queries and enjoy a complimentary 30-minute consultation.