infinitus

Hi Friends

I was wondering if I could use a small proprietorship structure setup in Panama, so simple and cheap asset protection

I know normally it is not a good entity to setup as liabilities are shared, but if it was setup properly to do business overseas, i wonder if it could create a great level of protection against problems, on the cheap

Let me know what y'all think

Infinitus

miracle

Interesting idea! If the "potential problems" are located outside of Panama then a proprietorship could have a similar deterrence value as a corporation just because of its location. However, corporations are very cheap (less than a one week trip to Panama) so I'd definitely go all the way. I think there are also some tax advantages if your corporation receives income from outside Panama that do not apply to a proprietorship.

MRWOOHOO

I agree with Miracle, a corp is not that much, is very flexible, and is the way to go. No matter what you will need an attorney. First consultation is always free. There are many people on this forum that have good attorneys and I have a very good one as well. Just go to the trustworthy attorney thread and start picking.