Password Recovery

Please enter your email address in the field below and will we email your password to you.

Close

LOGIN/REGISTER USING YOUR FACEBOOK ACCOUNT

LOGIN USING YOUR GIG ACCOUNT DETAILS

Lost your password?

NOT A MEMBER? REGISTER!

A LOWTAX NETWORK INTERNATIONAL BUSINESS SMART TOOL
HOME ABOUT ONLINE GIG TOOL JURISDICTION INFORMATION PROVIDERS NEWS ARTICLES & FEATURES

Panama

Panama Flag

Country: Panama
Region: Americas
Currency: US dollar (USD) (US$)
Languages: Spanish, English
Time Zone: UTC -5

Phone Code: +507

Communications: Good

Formation Cost: 1000 - 2400 USD$
Formation Time: 4 - 6 days
Maintenance cost: 800 - 1000 USD$

Executive Summary: Panama has come a long way since the free-wheeling days of the 1990s, but it is still relatively tax-friendly. The service sector contributes more than 75% of the economy, which is based on banking, tourism, mining and commerce, alongside of course the famous canal, currently being enlarged for the nth time. The government is trying to make productive use of the canal's facilities with export processing zones and many investment incentives. The Colon Free Zone is very successful, accounting for more than 10% of GNP. Only locally-sourced income is taxed. It is reasonably easy to form corporations, and privacy is assured. There are no tax treaties, although a number are close to ratification, and Panama has entered twelve TIEAs. Withholding taxes apply only to locally sourced income. There is no capital gains tax but gains on real estate count as income.

Suitable for: Banking, Fund Management, Shipping, Aviation, Yachting, Trading Goods, Trading Financial, Intellectual Property/Licensing, Holding Companies, Property Ownership
Show suitability stats

Company Purpose Stats:

Wealth Management:

 

Treasury Management:

 

Banking:

 

Insurance:

 

Fund Management:

 

Shipping:

 

Aviation:

 

Yachting:

 

Trading Companies Goods:

 

Trading Companies Financial:

 

Intellectual Property:

 

Holding Companies:

 

E-Commerce:

 

E-Gaming:

 

Property Ownership:

 
Hide suitability stats

Vehicle Types: Limited companies, public limited companies, trusts, branches, general partnerships and limited partnerships

Capital primary business districts: Panama City

Good Relationships: Canada, China, India, United States

Bad Relationships: Burma, Cuba, Iran, Korea (Democratic People's Republic of), Libya, Somalia, Sudan, Syria

Tax Burden - Business: Moderate

Tax Burden - Individual: Light

Headline tax rates: CIT 25% (energy, telecommunications, insurance, financial, mining and banking companies 27.5%) (offshore income 0%), PIT 15%-25%, VAT 7%

Treaty Jurisdictions: Barbados, Czech Republic, France, Ireland, Korea, Republic of, Luxembourg, Mexico, Netherlands, Portugal, Qatar, Singapore, Spain, United Arab Emirates, United Kingdom

TIEA Jurisdictions: Canada, Denmark, Faroe Islands, Finland, Greenland, Iceland, Norway, Sweden, United States

Information Links:

 

 

 

SHARE

Share on FacebookTwitter
linkedin share buttonstumbleDeliciousEmail

FOLLOW

FacebookTwitterGoogle+LinkedInTechnorati

Important Notice: Wolters Kluwer TAA Limited has taken reasonable care in sourcing and presenting the information contained on this site, but accepts no responsibility for any financial or other loss or damage that may result from its use. In particular, users of the site are advised to take appropriate professional advice before committing themselves to involvement in offshore jurisdictions, offshore trusts or offshore investments.

All rights reserved. © Wolters Kluwer TAA Limited