The Tifler Blog

Tax Free - The offshore administration must be taxation exempt in that offshore gained pofit is not taxed by the country where the Offshore Companies organization is domiciled. Panama fulfills this trial as does numerous other countries. Panama also has no capital gains tax for you stock market investors and there is no inheritance or probate taxation. Panama meets this requirement.

Weather Considerations - Many of these offshore administrations are based on islands and are susceptible to power outages from typhoons. Also one should look for risk from volcanoes, tsunamis and temblors. Just what you don’t want is a power outage from a storm keeping you from drawing your funds out when you require it. The reason the Panama Canal was made where it is, is because there is no risk from hurricanes, tsunamis, volcanoes and earthquakes. Panama clears the test.

Framework - one must look at the power generators, telephone organization and internet when evaluating an offshore administration. You don’t need to have to hold back days or weeks to be able to utilise your online banking or to be able to contact to your bank on the telephone. Panama was basically built by the Americans who just departed from it in 2000. It has American style telephones, power, roads, etc. The mobile phones and internet in Panama are as good as Canada or USA. Panama surpasses the test once again.

EU Associations - Panama has no affiliations that could erode secrecy, once again passing the test. No reporting of income for EU residents or amassing of withholding taxes. Taxation identification figures from your home country are not needed to secure a Panama bank account, own a company, buy real estate, etc. Panama once more clears this requirement.