Panama Corporation is a legal way of protecting ones identity and assets. The laws concerning about financial secrecy laws and banking are very rigorous. In fact there are few countries that have stricter laws concerning these. This corporation is best suited perfect for international businessmen and investors. The laws in Panama concerning corporate secrecy and banking are the most ironclad laws that one can find in this world. These laws are written in the constitution of Panama making them constitutional rights in Panama.
Panama is a legitimate international banking and trade center. It is both respected and well known throughout the world. The country has not signed any MLATs (Mutual Legal Assistance Treaties) with any other country. The Government of Panama charges a small non-resident Panama corporation fee. There is no minimum amount needed to establish such a corporation. Foreigners can both create and control such corporations. The directors and members of the board can hold meetings anywhere in the world. The corporation is allowed to bearer form shares.
The Government of Panama does not consider banking done there as actual trade, therefore does not tax it. Any income earned from such transaction is also taxed by the Government of panama.
The article of incorporation or the deeds of the company are only documents that need to be made public. These documents will provide information on the directors and officers of the Panama Corporation as well as the registered agent present when it was incorporated. This information is however limited to their names and addresses. The meeting of either directors or share holder need not take place. Even when they do take place, it need not be in Panama. Any resolution passed during these meetings is valid without signature, even if the participants of the meeting are located in different jurisdictions. Only prepaid tax along with a fee required during the set up must be paid.
Panama has not put any restrictions on currency. It also has no exchange rate. This makes it easier for one to transfer funds out and in of Panama.