There is a reason why the Republic of Panama is today regarded as one of the most business-friendly countries in the world. While the strong economic growth of the country along with investor friendly policies being followed by the government are all reasons enough, there is something far more attractive being offered in the Republic of Panama. And this is the establishment of a Panama Bearer Shares Corporation. The Panama bearer shares corporations are today recognized the world over as one of the best ways to protect one’s assets and financial privacy.
Functioning of Panama bearer shares corporations.
Let us first understand how a Panama bearer shares corporation works. Unlike in most parts of the world, in the Republic of Panama, you can actually own a bearer shares corporation. This means the corporation is owned by the person who has physical possession of the certificates of stock. In the United States for instance, the names of the owners have to be entered into a public registry and they become public knowledge. On the other hand, in the Republic of Panama, only the names of the directors of the corporation have to be entered into the public registry. Nominee directors can be hired by the corporation and they are considered as employees, not owners of the corporation. Thus, the name of the owner will not appear in any public registry.
It is also very easy to transfer these stock certificates. There will be no recorded proof of the sale of these certificates and you can very simply and privately hand over the stock certificates to another person. It is then very difficult for the authorities anywhere to link you to this transaction.
In the Republic of Panama, a corporation can own bank accounts, invest in real estate and stocks, have boats, planes, cars and other assets as also own other businesses. All this can be managed without anyone ever knowing or being able to prove who the owner of the corporation really is. As far as the public is concerned, all these assets belong to the Panama bearer share corporation that has purchased them all.
You might wonder that if you were to open a bank account in the name of the Panama bearer share corporation, you might be required to provide information about who the owner is and identity documents of the owner. This is quite true but it is also true that the banking secrecy laws in the Republic of Panama are amongst the best in the world and it is next to impossible to get banks to reveal the names of the account holders.
It takes only two to three days for a Panama bearer shares corporation to be set up and you can contact any of the local consulting firms to help you with the setting up of the corporation. When you add the ease and simplicity with which any investor or businessman can set up a Panama bearer share corporation to the rest of the advantages listed above, it is not difficult to see why this is considered such an attractive option.