Octopus International

Panama

Situated in Latin America, joining North and South America, Panama covers approximately 77,000 square km.

Climate - Tropical
Languages - Spanish (official), English
Governments - Constitutional Democracy
Living Standards - High
Legal Tender - Balboa (par with US Dollar which is the only paper currency in Panama)
Population 2,630,000. Capital Panama City (200,000)

Speedy incorporation procedures and simple ongoing administration
No requirement to file annual returns or financial statements.
No requirement to hold annual general meetings of shareholders or directors
Full exemption from taxation on any business activity or transaction carried out outside Panama
Reasonable formation and maintenance and fees
Minimum capital requirements and minimum registration fee on capital
Corporations may engage in any lawful business in any country and may carry out transactions in whatever currencies they choose
Nominative or Bearer shares, at owner's option
The shareholders, directors and officers may be of any nationality and may be residents of any country
Neither the directors or officers need to be shareholders
Meetings of shareholders and/or directors may be held in any country and they may attend meetings by proxy
The accounting books of the corporation may be kept in Panama, or abroad
Convenient registration of vessels and naval mortgages
Convenient registration of captive insurance companies

Holder of bank accounts, fixed deposits, investment plans and any other financial or commercial title
Owner of the shares of other companies or legal entities
Owner of apartments, houses, buldings and any other movable or immovable property or goods
Manager and promoter of international business transactions
International leasing of aircrafts, vehicles, machinery and others
To give or receive money for loans, commissions or others
Marketing and promotion of products and services
Other commercial and financial activities