Registration of an investment fund in Panama
Investment fund in Panama + account for cryptocurrency activities
Investment fund in Panama is an opportunity for your business to work securely with cryptocurrencies, as well as a great way to reduce the tax burden on your business and hide the ultimate beneficiaries.
Panamanian funds retain the traditional structure: founders, whose information is publicly available. A nominal service is also available. The founders may be any persons - private, legal, with different citizenship. Minimal number is one.
Information security of Panamanian foundations is maintained at a high level. The public has access to the State Registry of founders and members of the Board of Directors, and all other aspects of the fund are specified in private documents - not subject to disclosure.
The advantages of a private fund in Panama:
- High confidentiality;
- Low cost of registration and maintenance;
- Political stability;
- No currency controls;
- Private foundations do not pay taxes;
- Has the status of a legal entity;
- Allows one person to be the creator and beneficiary at the same time;
- Has no shares, no shareholders;
- Can own various types of assets and establish companies;
- Directors of a private foundation need not be located in Panama;
- A private foundation of up to 20 investors does not need an auditor, custodian or investment manager.
Registration fees include:
- Investment fund registration;
- Opening an account with a "cryptofrendly" bank;
- Legal opinion letter for opening a bank account;
- Package of documents for the company;
- Registered local address for one year;
- Registration agent services for one year;
- State fees for the first year.
You don't have to go through a lengthy procedure to set up a foundation. As a rule, registration takes up to four weeks.