Protecting your Assets with Panama Corporations & Foundations

For offshore asset protection, the Republic of Panama has gained a reputation as the top choice in the world due to it's stable government and bulletproof banking secrecy laws.

Protecting your assets using Panama offshore asset protection structures enables a person to layer the structures such that the persons name never appears on any of the documentation for the foundation or corporation.

Offshore corporations set up in Panama issue share certificates known as "bearer shares". The corporation is owned by the person or entity in possession of these bearer share certificates and can be transferred by simply handing them to another individual.

A Panama Foundation on the other hand cannot be owned by any one person and therefore has no names associated with it when founded. A foundation can own assets but is unable to perform business transactions.

So why use a foundation? A Panama foundation has the ability to own a corporation. Business transactions can be performed by the corporation with the foundation serving as asset protection for the corporation adding a layer of anonymity.

Banking secrecy laws in Panama rate near the top globally and are strictly enforced by the government and institutions in Panama.

Panama is the only Latin American country whose economy is based on the United States dollar. If you plan to hold an offshore corporation it is important to know that Panama has equal treatment for local and international business owners. Their economy is stable and has low inflation.

Panama's government has no tax treaties or Mutual Legal Assistance Treaties (MLAT) with any other countries at all! This means there are no exchange controls and Panama is a strong haven for offshore banking. Panama's legal and political structures are sound and can boast long-term stability.

By: Art Cablestein

Get more information about asset protection strategies and panama offshore corporations & panama offshore foundations at OffshoreLegal.org.

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