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Tax Haven Panama

The Republic of Panama is situated between the Central American territories of Colombia and Costa Rica. The country has a population which is estimated to be at 3,300,000 people. The official language is Spanish but English is widely spoken in the capital, Panama City. The tax haven of Panama is home to the Panama Canal which is known to have made international shipping easier. Panama is a very well established offshore tax haven which has a huge client base. Panama offshore services include the incorporation of offshore companies, the formation of offshore foundations, the registration of ships and vessels and the offshore banking services.

The tax haven of Panama has it all; beaches, rainforest, rich culture and lots of entertainment. There are many beaches in Panama for hanging out or enjoying an exhilarating bath. Panama has perfect climate which makes exploring the country even more enjoyable. The country has gained a name for its self as a tourist destination. Activities to partake in are diving, snorkeling, parasailing, and hiking among others.

The rainforests of Panama makes for great hiking and sightseeing. The country has a large number of bird species. Bird watching is very popular in Panama and the country attracts birdwatchers form Europe, the United States and other countries. In terms of eco tourism Panama has a lot to offer. Efforts to preserve the natural beauty, flora and fauna of the country gave rise to the formation of a number of natural parks in the tax haven. Popular parks in Panama include the Metropolitan National Park, the Darien national Park, and Soberania National park among others.

The capital of Panama City has many areas which are of historic importance to the country. The first European settlement in the Pacific Ocean was Panama City but aggression from local Indian tribe cause the settlement to be moved to the section of Panama City called Colonial Panama. In these parts there are many well preserved buildings, streets and other monuments form European colonial era. Historic sites can be seen around the country and facts and other objects can be seen at museums around the country.

Today the tax haven of Panama is known as one of the best country on earth to retire to. There are many factors which helped Panama gain this reputation among them being a low crime rate, availability of real estate and the cost of living. The offshore tax haven of Panama has a program for retirees which involves them applying for a retirement visa. The Panama retirement visa comes with lots of benefits which include discounts for hotel accommodation, medical visits and prescriptions, discounts on mortgages, discounts on travel tickets and lower entrance prices for cultural shows and sports events. Many retirees flock to Panama to make the country their second home because lands and other real estate property can be obtained with much ease. For starters there is land in abundance and the laws of the country have no distinction in the process of obtaining lands for non citizens. Citizens and non residents follow the same procedure for purchasing lands. Unlike in many countries a non resident needs no special license to buy land.

Panama allows business companies to operate tax free. Panama offshore corporations can be used for asset protection, for trading and to reduce international taxes. An offshore company incorporated in Panama will pay no local taxes for income gained outside of the jurisdiction. True tax haven Panama corporations will pay no capital gains tax, withholding tax, estate tax or gift tax.

The Panama Foundation is another offshore entity which can be formed in the jurisdiction. Like the offshore company this also offers asset protection and is used for estate planning. Panama offshore foundations will remain tax free as long as they do not own real estate or property in the offshore jurisdiction and all of its assets are gained outside of the jurisdiction. Panama has registered foundation since 1995.

Offshore banking is another offshore service offered in the tax haven of the Republic of Panama. Offshore banking in Panama is very modern. Offshore banks in Panama have services such as bank accounts in more than one currency, debit cards, credit cards, internet banking and more. Offshore banking in Panama is an option for both private individuals and corporations.

The tax haven of Panama has legislation in place to protect the privacy and confidentiality of its customers. Most of which forms part of offshore legislation in the jurisdiction. The incorporation of offshore companies and entities in Panama takes less than one week. Online incorporation is also available. The offshore tax haven of Panama has many conditions in place which makes it the choice of many offshore clients. This includes a successful economy, stable political atmosphere, a very professional workforce and strict, progressive offshore legislation.