Inside Panama
Panama is an international service center that substantially benefits persons and companies wishing to use Panama based corporations for holding purposes or for directing business activities in different parts of the world. Among the many advantages Panama offers are:
- The country is virtually located at the crossroads of the world, with the best air and ocean transportation, both passengers and freight, as well as an excellent telecommunications system.
- There is a unique banking system, which includes 87 banks with offices in Panama, among them some of the largest and best known banks operating internationally, supported by strong bank secrecy laws.
- There are absolutely no exchange controls and there is complete freedom to transfer funds. Neither registration with the authorities nor permits are required for any transaction involving the receipt or transfer of funds.
- The U.S. Dollar-based economy.
- There are no taxes on capital (stocks, bonds and other investments) held by Panama corporations.
- Low cost of living.
- Government stability and infrastructure
- Tropical weather and natural paradise with the most beautiful beaches and biodiverse rainforests.
The income tax law of Panama specifically exempts from its provisions the following:
- Directing from an office established in Panama, operations which are completed, consummated or take effect abroad;
- Invoicing, from an office established in Panama, the sale of merchandise or products for a sum higher than that at which said products or merchandise had been invoiced to the office established in Panama, provided that said merchandise or products are handled exclusively abroad;
- Income from International Maritime commerce of vessels registered under the Panama flag.
- Corporate dividends or participations when said dividends or participations are derived from income not produced within the territory of the Republic of Panama, including the income derived from the activities mentioned in points a and b above.
- The interest earned for funds kept in time deposits or savings accounts.
- There are no tax treaties with any other country.
- The Colon Free Zone offers unique opportunities for the duty free storage, repackaging and reshipment of goods of all sorts.
Panama photos courtesy of Andres de la Guardia Oteiza.
 |
Related Documents for Download:
- The Panama Relocation Guide
|
 |
For further information:
Please contact our marketing department for additional information: marketing@icazalaw.com
|
 To
view documents, Adobe Acrobat is requiered.
Download it for
free. |
|
