Panama – is a country characterized by high rates of economic growth and one of the most popular offshore jurisdictions in the world. Not unimportant component of the country`s economic well-being is Panama Canal, which connects the Pacific and Atlantic Ocean; the sphere of financial services is the main source of income. Reforms in trade, progressive changes in pricing, implementation of the reconstruction project of the Panama Canal have increased inflow of foreign investment, and thereby ensuring a favorable environment for doing business.

There are the following obvious advantages of offshore company’s registration in Panama:

- High level of confidentiality;

- No requirements for financial reporting and auditing;

- No foreign exchange controls;

- Possibility of opening bank accounts in Panama;

- Accelerated procedure for obtaining a residence permit.

Offshore companies are exempt from paying income tax on capital gains from corporate and income tax.

Confidentiality is caused by the lack of requirements for registration of beneficiaries and shareholders in the State Register, which has only data on company directors as well as the ability to use nominee services.

Offshore company in Panama must meet the following requirements:

- Company staff should include three directors, president, treasurer and secretary;

- Presence of registered agent who is responsible for filing and has the right to represent the company for registration;

- Register of shareholders;

- Paid authorized capital;

- Registered office;

- Necessity for preservation the meetings minutes;

- Annual payments of the state fee in the form of franchise (in the amount of $ 300).

Offshore companies in Panama often registered in the form of corporations (Sociedad Anónima (SA)), more rarely - in the form of Limited Liability Company (Sociedad de Responsabilidad Limitada (SRL)).

The country`s banking system remains one of the most protected in the world, despite the joining to international agreements on the delivery of information, relating to personal data of non-residents who have accounts in Panama. Disclosure of bank secrecy takes place only on the basis of the decision of the Panamanian court.

Used as the base currency the US dollar eliminates the risks, associated with conversion in transactions. The presence of offshore account in Panama - is reliable tool for asset protection, particularly within unstable political situation and economic crisis. High interest rates on deposits can preserve and increase monetary savings, even taking into account possible growth of inflation.

Bank accounts in Panama - is also possibility to obtain the right of permanent residence and, subsequently, conferment of nationality. Opening an account takes a lot of time and requires carefully prepared package of documents. Bank staff hold interviews with potential clients.