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Advantages of incorporation in Cyprus
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Panama has the most stable government and economy in all of Central or South America;
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Allow nominee shareholder and director structure;
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Exemption from local taxes;
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The currency of the country must be stable, and there should be no restrictions on the movement of funds in or out of the country, and your offshore bank should be able to hold your money in any major currency.
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Company type
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Limited Liability Company
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Directors/Officers
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Minimum Three Directors-members, allowed non-resident
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Shareholders
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Minimum one
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Authorised share capital
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No minimum requires, usual authorized USD 10,000
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Accounts
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Panama companies are not obligated to prepare or file accounts. However, the companies must keep sufficient records of financial transactions which will determine their financial position with reasonable accuracy. |
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Taxation
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Panama International Business Company does not pay any tax on its worldwide profits to Panama authorities. |
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Double-tax avoidance treaties
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Barbados
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In-force
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Czech Republic
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Pending
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France
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In-force
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Ireland
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In-force
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Israel
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In-force
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Italy
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Pending
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Luxembourg
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In-force
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Mexico
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In-force
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Netherlands
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In-force
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Portugal
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In-force
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Qatar
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In-force
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Singapore
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In-force
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South Korea
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In-force
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Spain
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In-force
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United Arab Emirates
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In-force
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United Kingdom
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In-force
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Timeframe for incorporation
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3-4 weeks
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Description of incorporation documents
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Originals comprising of the following documents:
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Certificate of Incorporation (Certifica con vista a Solicitud) certified by Registro Público de Panamá (Registry) and Apostille;
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Minutes of a Meeting of the Board of Directors (re: appointment of first Directors, share allotment and transfer);
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Notarial Certificate of the Constitution Deed (Escritura Pública por el Certificado de Constitución) in Spanish certified by Registro Público de Panamá (Registry) and Apostille;
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Translation of the Constitution Deed into English with the signature of the translator attested by Ministry of Justice and Apostille.
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Shares: Share Certificate;
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Declaration of Trust;
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Registers:
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Register of Directors and Officers (if required by the client);
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Register of Members.
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Power Of Attorney
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Price of Panama Limited Liability Company
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2000 Euro, including General POA in the name of Ultimate Beneficial Shareholder and first year nominee and administration fees.
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Cost of annual support services
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1700 Euro, including full Nominee Service (Registered Address, Director, Secretary and Shareholder costs) and renewal of General POA.
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Disclosure of Beneficial Ownership to Authorities
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Confidentiality is maintained as long as the company and its ultimate beneficial owners are not involved in any criminal activity.
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Information and Documents required in order to register Panama company
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Full Name;
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Date of Birth;
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Nationality;
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Full physical and postal address ( copy of utility bills, or other “official” correspondence addressed to the client);
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Telephone;
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Fax;
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E-mail address;
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Copy of passport or national identity card duly certified by a lawyer or notary;
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One original reference letter from the individual's banker, lawyer or accountant confirming the existence of a satisfactory business relationship with the principal;
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Occupation;
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Nature of Business.
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