The Republic of Panama is located between Central America and South America. The Panama Canal, which connects the world's economic arteries, is a necessary passage for merchant marine fleets to and from the Atlantic Ocean and the Pacific Ocean. The local economic focus is on services, mainly finance, entrepot trade, and tourism.
Panama is a famous offshore financial Centre. Company Law is based on American law. The Panamanian Admiralty and Maritime Laws are more beneficial to shipowners with a leading position in the shipping industry around the world. The developed shipping industry has particularly advantageous when registering shipping companies. It can be used as a gateway to the American market.
The advantages of Panama Company
1. Shareholders and directors can hold concurrent posts, and the company can be established by three people.
2. The transfer of shares is prompt and unrestricted.
3. The authorized capital does not need to be verified, funds and profits flow at liberty.
4. There is no need to submit annual return and financial reports to its incorporation jurisdictional government, and only keep the documents for its record.
5. Bank accounts can be opened in Hong Kong or around the world.
6. Convenient communication and air transport facilities, the best choice for registering shipping companies.
7. The Corporate Law has been in place well since 1927 to provide favorable protection for the interests of investors.
8. Tax exemption for the business and financial transactions of offshore companies.