There are numerous benefits that are offered by Company Incorporation Panama. Company Incorporation Panama, is not a thing of yesterday, in fact, it has been there for close to a century, that is 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. If you have been looking for a legal way too limit your liabilities on your properties and assets ownership, Company Incorporation Panama is the way to go. Any Panama corporation can own vehicles, yachts, minerals, jewelry, real estate, shares to other corporations and much more in any part of the world. All governments in the world accepts that the Company Incorporation Panama is very legitimate and this allows you to have a normal bank account in any country or state. The Company Incorporation Panama popularity continues to grow because in 2017, more than 350,000 corporations were registered in Panama. The surprising thing is majority of the owners and beneficiaries of these Panama registered corporations are non-resident foreigners who don’t conduct or have any commercial business in Panama. The main reason of making this piece is to help you understand various benefits of Company Incorporation Panama.
To start with, you don’t pay tax on any Panama IBC which is conducted outside Panama borders. Naturally, this tax benefit is the leading reason why a majority of the people are using Company Incorporation Panama. Remember that US citizens’ global income is taxed. All in all, it is advisable to engage your qualified accountant so as to review your tax requirements considering that there are numerous tax benefits in this smart approach.
Still, get to know different benefits 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.
It is also worth knowing that Panama taxes people and companies who earn their income within Panama borders. This is the what is referred as a territorial source of income. Hence, in case you operate your business of any size out of Panama, the tax burden will be alleviated. This includes even those who are using modern technology of internet marketing so as to reach their international clients as well as those who earn from activities that are conducted outside the Panama boundaries.