The legal system is based on the Spanish Civil Law. However, company law is based specifically on the Delaware legislation.

The US Dollar.

Spanish and English are the official languages of Panama.

Corporation Law # 32 of 1927;
Codigo de Commercio (Commercial Code);
Limited Liability Company Law # 24 of 1966.

There is no requirement to disclose details of the Beneficial Owner to any Government Authority.

Provided that the company activities are carried on outside of Panama, the company will not be subject to any income taxes therein. The License fee of $150 is payable annually to the Government Authorities.

None

None.

The Registrar of Companies reserves the right to refuse any name which is identical or strikingly similar to an existing company or, in his opinion, inappropriate or undesirable, for example, any name which suggests an Imperial connection, or any name which is deemed to be offensive or obscene. Names which include a reference to "Assurance", "Bank", "Building Society", "Chartered", "Co-operative", "Municipal", "Fund Management", "Insurance" or "Trust", require a special license and may not be used as of right. Names must end with Limited, S.A., Inc., Corporation Incorporated, or, S.A., to denote limited liability.

A Panamanian Non-resident Company is not permitted to trade within Panama, nor may it offer its own Shares for sale to the public. It is also precluded from conducting or carrying out Banking; Insurance; Fund Management; Investment or Asset Management; Trusteeship; or any associated activity.

Panama is probably one of the world's most liberal country when it comes to taxing foreign and offshore entrepreneurs. The most important of its numerous advantages are:

• Easiest, quickest and cheapest setting up of a tax-exempt offshore corporation
• No income tax, no corporate tax, no sales tax, no value added tax, etc...
• Panama's official currency is the US dollar - thus, no risk involving exotic inflationary central American "money" issued by corrupt governments;.
• Panama's corporation laws are modelled after the Delaware Corporation Law, which is among the most liberal in the world.
• No citizenship or residency requirements or restrictions with respect to owners, directors and officers as with most other tax havens.
• Stockholders' and directors' meetings may be held anywhere in the world.
• Capital shares may be issued in a nominative form, or to "bearer" - the ideal protection of the corporation owner's identity and total privacy.
• Funds and accumulated offshore profits can be deposited or invested in any country in the world without becoming subject to taxation in Panama.

• Set up corporate bank accounts all over the world; manage funds.
• Obtain international corporate or anonymized credit cards, regardless of your current credit rating... we will show you how.
• Earn tax free income with your Panama corporation and spend it anywhere in the world using your corporate or anonymized debit cards.
• Buy or sell tax free securities, precious metals, commodities, real estate, other companies, mutual funds, and more.
• Procure business loans, negotiate financing or joint venture agreements, mergers and acquisitions.
• Save LOTS of taxes!
• Avoid local zoning, labor, manufacturing, warranty and other restrictions.
• Facilitate international trade activities.
• Completely anonymize your assets.