There are numerous benefits that are offered by Company Incorporation Panama. The good thing about Company Incorporation Panama is, it is not something new that is being tried out, no, it is a law that has been there since 1927. The awesome thing about Company Incorporation Panama is its IBCs flexibility where one can do same commercial and business activities the same as any other EU or U.S corporation. This means that they can own properties as well as other assets and still manage to limit personal liabilities in the overall performance of various corporate activities of the business. Any Panama corporation can own vehicles, yachts, minerals, jewelry, real estate, shares to other corporations and much more in any part of the world. Every government worldwide accepts Panama corporation legitimacy hence allowing them to have normal bank accounts. The Company Incorporation Panama popularity continues to grow because in 2017, more than 350,000 corporations were registered in Panama. You will further be amazed that majority of the owners and beneficiaries of these registered corporations are non-residents who don’t even have any business or a commercial activity is Panama. The whole idea here is to help you know various benefits of Company Incorporation Panama.
First, there are zero taxes on Panama IBCs on all activities conducted out of the country. Naturally, this tax benefit is the leading reason why a majority of the people are using Company Incorporation Panama. Take note that US citizens who earn income out of the U.S are still taxed. Take note that although there are numerous tax benefits, it is highly advisable to engage your accountant so as to review your tax requirement, more so if you are in a state or a country that taxes your income notwithstanding its source.
It is also worth knowing various pros of Panama corporation. One, most of the foreigners use Panama corporation as a means to protect their huge assets from government seizures, lawsuits as well as from the home country regulations. Just know that there is no civil lawsuit or tax assessment of any government that can be enforced against Panama corporation.
This however doesn’t mean that Panama does not tax anyone, instead, Panama just taxes income that is earned within its borders. In other words, they just tax territorial income. This means in case you have a company that operates out of Panama you will not be taxed on profits or income. The good thing about this is, it also include corporations who use internet to reach their global clients as well as those who earn from activities conducted out of the Panama borders; take interest in knowing more of Company Incorporation Panama and you will be amazed of its countless benefits.