Panama is located in Central America, bordering both the Caribbean Sea and the North Atlantic Ocean, between Colombia and Costa Rica. Panama has a long history in the financial area, which is supported by a well-developed infrastructure.
Panama’s economy is service based, heavily weighed towards banking, commerce, tourism, trading, and private industry.
The Panama Corporation is a unique entity with limited liability. Profits made outside of Panama are fully exempt from taxes. This entity is very flexible and is able to take on any kind of legal business activity.
The entity has to conduct business outside of Panama. A minimum of three directors is required. Board meetings are mandatory once a year, and can be held anywhere in the world. This entity only requires one shareholder and the identity of the owners is completely confidential.
The Panamanian Foundation is a foundation that can not be used for commercial purposes, but it can hold an interest in a company which is engaged in commercial activity. The Foundation Law expressly makes all foundations subject to the Anti-Money Laundering Regime of Panama.
Admin of the Foundation can take place anywhere in the world. Each foundation is required to have a registered agent in Panama.
For more information please contact:
HBM Panama S.A.
Via España Bank of Boston Building, 8th Floor