The offshore company as a Panama legal offshore company, is a legal and authorized legal entity that acts and operates financially like a normal onshore company but operates fiscally with the freedom to be able to not legally keep accounts or perform simple accounting and be administered by hidden beneficiaries through an authorized nominee directive council. The legal offshore or off-shore company is technically a foreign company established in a foreign state on the basis of compliance with its laws and operating outside the same state in which it is incorporated with full legal legitimacy. An offshore company is therefore a company established in a different place from those in which it operates commercially or from those in which its investors live . The primary objective of an offshore company is to allow conducting an activity in full tax avoidance and without any accounting, managing current accounts in discretion and carrying out transactions through current accounts and investments through offshore banks in full financial secrecy, protecting privacy and identity of the real beneficiaries of the same. It is perfectly legal for a citizen of any state in the world to open and operate an offshore company as long as they operate legal businesses and are declared in the country of tax residence of the beneficiary. Offshore companies such as the Anonymous Company of Panama and Belize enjoy numerous advantages which we can summarize as follows:
- Corporate Secret , called Corporate Veil, like the famous Panama Corporate Veil, or the non-disclosure of corporate data by the tax haven state in which the anonymous company is founded. Documents are often segregated and cannot be disclosed or shared with third parties. In some countries there is not even a register of them.
- Zero Taxation , i.e. non-compliance with even the minimum income tax requirements. These offshore companies, operating under a privileged tax regime, do not pay taxes. Often used to avoid paying forex taxes.
- Exploiting bank secrecy , i.e. the ability to easily open offshore current accounts anywhere in the world, such as an offshore current account in Belize, or an offshore account in a bank in Panama since they are welcome and guarantee data protection with strict bank secrecy capable of to offer superior banking services.
- Offer total asset protection .
- Optimization of production costs. FAQs
Among the best known public registers we have:
- Panama Public Registry : https://www.rp.gob.pa
- Belize Company and Corporate Affairs Registry : https://belizecompaniesregistry.gov.bz
- UK Company House : https://www.gov.uk/government/organisations/companies-house
- Delaware Division of Corporations: https://corp.delaware.gov
- Wyoming Secretary of State : https://sos.wyo.gov/default.aspx
Among the most used world databases:
- OpenCorporates : https://opencorporates.com
- Sayari : https://sayari.com
- PrivCo : https://www.privco.com
A warning to which all offshore companies must pay attention when it comes to international commercial companies is that the safe tax free they provide exists only if the money produced by these activities remains in these international companies and territories. After distributing the activities or income generated by these activities, these proceeds are subject to taxation in the legal jurisdiction in which the person who receives the proceeds resides fiscally.
We found them everywhere, we have a widespread presence all over the world, also in this case the correct offshore jurisdiction must be ascertained taking into account the real expectations of the client We found companies in Panama, Belize, USA, UK, Singapore, Venezuela, Cayman, Switzerland, Dubai , Nevis, Dominica, Puerto Rico, Bahamas, St Vincent, Aruba, Scotland, Ireland, UAE, Seychelles, Hong Kong, Samoa. In practice, 80% of clients ask for a 100% anonymous structure, with bearer shares, nominees , founded in turn by another company in another jurisdiction . This corporate form is the most common and required for obvious reasons of anonymity protection. Jurisdictions are chosen that are simple in the practice of incorporation and never cooperate with any foreign tax authority. The first choice of all clients and lawyers is obviously Panama, whose companies are formed in 10 days and are totally anonymous.
The required documents are a signed copy of your passport and a second identity card, a notarized copy of the utility bill in your name and surname, a bank reference and an accountant's reference for some specific jurisdictions.
Fortunately for Panama we only ask for an unauthenticated PDF photo of your passport.
The administrator is the one who administers the offshore limited company on behalf of the real owner. It is the subject responsible for signing contracts, acting as an intermediary, for interfacing with the tax authorities, for signing deeds with customers, or company contracts. He is appointed by the shareholder or by resolution of the board of directors. An offshore company can have numerous directors or even just one. The shareholder is the real owner of the offshore limited company and the real hidden beneficiary.
A Shelf Company is an anonymous offshore company already established by a Resident Agent or Registered Agent who formally holds the property. The property can be transferred by the agent to third parties who will use it precisely to start their own commercial business under his name . Shelf companies have much higher prices than newly founded offshore companies.
Foundations are structures to which the legal ownership of assets (money, shares, donations, land or encumbrances, cryptocurrencies, digital assets, patents, etc.) is transferred.
They are hybrid in nature, containing vital characteristics of the company (legal personality) and the trust (created for a purpose or benefit). As such, foundations are particularly useful as wealth management and tax planning tools, but in reality they are multipurpose. They can be used for multiple purposes and are the tool you need to protect your offshore company, your shares, the accounts associated with it , from any legal, patrimonial or legal aggression (divorce, confiscation, ) . The typical solution that 100% of our customers arrive at is:
- Offshore company, with nominees in the directive whose shares are in the name of a Private Interest Foundation whose beneficiary is our client (you), which before or after this type of assets further protects itself by taking a second and anonymous residence in Panama or Paraguay.
Founder
Identified as the person who establishes the foundation, or on whose behalf it is established or by whoever makes a disposition (transfer) of property. Generally, an offshore foundation can be set up by one or more founders.
Board of Trustees
Identified as the people who carry out the purpose of the foundation according to the instructions of the Charter; Thus, the Board distributes the foundation's assets, administers the assets, signs contracts, conducts transactions, and invests on behalf of the foundation. Board members have a fiduciary duty to the foundation.
Foundation Charter
Identified as the document in which the foundation's governance rules are set out.
Beneficiary or Purpose
Identified as the person or class of persons for whose benefit the foundation is created. “Purpose” refers to any cause/purpose for which the foundation is established (e.g. charity).
Guardian or Protector
Guardians and protectors are generally optional, serving as a protective mechanism to ensure that the board's actions and decisions comply with the terms and objectives of the foundation.
The best offshore company to open is the one that you can best manage by yourself and from home and through which you will obtain the best advantages both in terms of taxation and privacy. There is no perfect company, but there is a perfect company that fits your specific case. Contact us to rely on our experience and ability and together we will address the delicate issues relating to your practice.
