Advantages of Panamanian Corporations
The Panamanian corporation is a kind of legal entity particularly suited for holding the title of assets and/or business concerns of any description, while at the same time ensuring confidentiality and security in any circumstances, a fact that becomes even more convenient when the anonymity of the owner of property/wealth may offer advantages in respect of governmental controls and taxes, personal protection, and ease of transfer and other forms of disposal.
The advantages of the corporation in any modern legislation are well known, but the advantages of the Panamanian corporation are always worth looking into even though they are a subject that requires no discussion among the most important law firms in the entire world. They have held an extremely prominent position in legislation tailored for offshore use since 1927, and they have been one of the major tools for investing and/or owning assets outside of the jurisdiction of the party in interest regardless of nationality or domicile.
Among many of its possible applications, it is worthwhile noting that it is an expedient for avoiding inheritance complications and probate proceedings.
The Office of the Public Registry in the Republic of Panama has earned worldwide repute for the protection it offers to corporations and their shareholders.
To make the Panamanian legal landscape even more attractive, over the past score of years other institutions have been added to complement the corporation through the Panamanian law on private foundations, which is ideally suited for estate management, among other things.
Communications in Panama city are on the same technological level as any of the most important cities in the industrialized countries, English among the lawyers in the top law firms is almost on a par with Spanish, and the U.S. dollar is the only paper currency recognized as legal tender by the Constitution, and is the subject matter of a bilateral treaty between the Republic of Panama and the United States of America almost one hundred years ago.