how to set up an offshore company?

donmo · 10-24-2007

I am a chinese citizen and live in USA for 7yrs. I want to set up an offshore company and corporate account in panama because it has great privacy.I was told it is not too hard.

Can anybody advice me how to set up the company? I will physically be in
panama to open the bank account but can I set up the company while I am in US to save some time?

btw I will not use the company to operate, just want to hold some of my assets. Any of your suggestions are deeply appreciated!

seashore · 10-24-2007

I think you need a Panama citizen to be an executive in the company.

Nosfer · 10-25-2007

well he could hire some one to be executive in his company... and he will be the main shareholder of that company.

Lalaguayaba · 10-25-2007

Nope--no requirement on having a Panamanian citizen as member of your offshore company, none at all. If your co. is privately held and is just used as an investment instrument, not at all--especially for privacy issues.

You do not need an executive of any type because you are not conducting 'business' of any type; it is a privately held investment firm.

This is not a store-front company; you have no employees and conduct no buying, selling, etc. of any product produced by your company--it is a way to invest funds in an anonymous way and to decrease one's tax liability.

Example:
International Customer Support | Call +44 (20) 7117 0 700
Learn more:
Panamanian offshore company requirements - Google Search

tatiane · 11-29-2007

Quote:

Originally Posted by donmo

I am a chinese citizen and live in USA for 7yrs. I want to set up an offshore company and corporate account in panama because it has great privacy.I was told it is not too hard.

Can anybody advice me how to set up the company? I will physically be in
panama to open the bank account but can I set up the company while I am in US to save some time?

btw I will not use the company to operate, just want to hold some of my assets. Any of your suggestions are deeply appreciated!

You can set up an offshore company being in USA. To open a bank account you do need to come to Panama because banks require an interview with the owners of the accounts. However, if you have a lawyer in Panama, he can initiate the process by filling out forms and such.

Regards.

tallman33 · 11-29-2007

How do you setup an offshore company in Panama from the United States? Do you do it by mail or over the internet?

MRWOOHOO · 11-30-2007

Contact an attorney. If you have never met with an attorney yet in Panama do yourself the favor. Since the first consultation is free meet with several just so that you get comfortable with dealing with them. Make yourself a list of questions, if you go to reputable law firms you will get similar answers. Then pick one and let him or her guide you through the process. You do not need to meet one to start the process but you should have a pretty good idea what's going on before the process starts.