If you are planning to set up an offshore company, then Panama would be the perfect choice for you.
Panama is not only the second-largest economy but also the largest per capita consumer in Central America. It is one of the countries in Central America that can prove to be beneficial for your company.
The country offers a favourable environment for businesses and companies to grow. The official language of the country is Spanish, but they also speak English in business communication. To date over 500,000 Panama, offshore companies are set up in the country. This shows how much businesses trust the country with its business growth.
Why set up your business in Panama?
If you are wondering why Panama out of all the countries, then we have you sorted with the pointers below. By setting up your company in Panama, you can reap many benefits.
- The company you set up can be used for international trade. Not just that but it can also hold any type of assets as it is ideal and flexible for many types of companies.
- Setting up a company in Panama is a highly confidential matter. It allows you to stay anonymous. Not just that but you can also find it easy to maintain, control, and operate from your home country.
- Panama provides a territorial system of taxing. This implies that your income will be taxed only if your business is operating in the country. If your business is not operating in the country, then you don’t have to pay any taxes.
- Capital or corporate assets of a Panama company can be kept outside the country. Unlike in other countries, there are no nationality and residency requirements to be fulfilled.
- In Panama, you don’t have to face any restrictions on shares when your company.
- You don’t need any paid-up capital to establish a company in Panama.
- A Panama company is allowed to carry out an investment or legal business worldwide.
Thus, you can see the number of benefits you can get for setting up an offshore company in a country like Panama.