Some of the characteristics of the IGR of Panama can not be obtained through the RIG which have been incorporated in a different country. Consequently, it is reasonable to say that a Panama IBC is able to produce particular benefits.
If the income of a Panama IBC is of foreign origin, such an IBC must pay only $ 300 annual tax expensed. This is just one of the beneficial features of an IBC in Panama. In addition, the flexibility involved in Panama’s legislation exempts individuals and companies pay taxes from inheritances, capital gains and income earned from bank interest.
One of the most convenient aspects of a Panama IBC is the minimum amount of effort involved in its creation. It does not take more than two or three days to establish an IBC in Panama if they have already filed papers and money required. Moreover, it is not necessary to be a resident of Panama, nor is it a requirement to be in Panama to create such an IBC.
Three nominee directors are the minimum required for the care of a Panama IBC. These directors are not required to have any knowledge of the holder of corporations and may have a legal occupation, if deemed appropriate.
A Panama IBC can also have bank accounts in Panama or in other countries. These accounts bear the name of the IBC and can be created by a person who is not in Panama or not the holder of a bank account in Panama. Such IBC may even own stock brokerage accounts that can be kept in Panama or abroad and can be created without the owner of that corporation having to personally visit Panama. A Panama IBC can also be the owner of property in any part of the globe.