Thread: Panama corperations...???

HI, I am an american.

I am really thinging to incorperate into a offshore corp.

on ebay their is a auction sale to incroperate an offshore business.

Currently I have 2 websites. I plan to first start off making a website and making money off ads.

So I won't have really any real assets in the U.S I also do plan to use the corperation tax id etc to deal with wholesellers or manufactors directly.

I want to buy some computers/servers to help host my website in the U.S

I do plan in the future later down the road to make computers and eletronic devices.


Is their anyway I can go on a website of the panama gov and eletronicly incorperate a business?

I know in the US you can do that easily.

I also want to know if their is any special corperations in panama meaning incorperating.

In the U.S I know that we have a LLC corp or a S LLC corp which will protect you personally from people gettting your personal assets if the company gets sued or the company owes alot of money to anyone.

I was thinking to try and incorperate my business myself.

I was told it's easy from some panamian lawyer website.

It's easy and cheap.

So I would like to know where I can do this eletronicly?

"Currently I have 2 websites."

Hockey97...

Can you give us the links to your websites, we want to see what your up to....

Not really.. It's still being worked on.

it's not up. I really do want to incorperate a panama corp.

I personally think the U.S gov is crooked. I keep seeing lies after lies and they break laws whenever they want.

So I do want to make this corperation as legal as possible.

ok, currently I am looking into incorperating in nevada. I still wanted to do it in panama.

I was told that what I heard about panama is not true. What I heard was that with a panama corporation I can buy and sell items without paying any U.S tax. I was even told that I can purchase land and homes in the U.S and would still have to pay property tax but I can do a business write off. I even was told I don't need to pay sales tax in the U.S even if I sold something in the U.S

I would like to know what would a panama corporation benefit an American?

Should I stick with incorporating in navada or should I incorporate in panama?

I really want to know whats the best one to do? I don't want to do anything illegal but want to pay less tax as possible.

The problem I see in the U.S I don't see how a company or a business can survive all the taxes and expenses that occurs in the U.S
I mean you have to legally incorperate the business and have a accounting system and have a good lawyer. The their is more like what products you will make or sell or buy .
If you make something in china and have to ship it to the us. Won't you get stuck with a tariff tax?

I mean all these things adds up and it shows a day to day expenses and those add up. So you really need to make big money to just pay off the business expenses.

Your question is very, very complex, and requires the advice of lawyers and tax accountants -- both in the US and Panama. It's wildly optimistic to think you're going to find the depth of knowledge you need on any internet discussion board.

But, generally speaking, all the so-called advantages of Panama corporations are hype and hooey, especially for a business like yours. It's lawyers and real estate salesmen that are peddling that stuff, because they want to sell you something. They don't care whether your business succeeds or fails, and they don't care if you go to jail (except maybe the lawyers, who could charge you more money trying to keep you out).

If you were importing/exporting millions of dollars of hard goods all over the world, there could be some advantages. E.g., S&W Foods has a Panama corporation that is used for double-booking -- that's why I pay no more for a can of S&W corn here than you do in the US. (Most imported foodstuffs are much more expensive in Panama.)

Or, if you already had a gazillion dollars in hand, there could be some advantages to using a Panama corporation to make your assets less visible to the US. (However, that's currently under attack, and may not hold up much longer.)

If your websites have income in Panama, you will pay tax to Panama. If they have income in the US, you will pay tax to the US. There's no way around it legally.

If you want to run your websites on the fringes of the law, you'd be better off looking at Eastern Europe -- like Russia -- and then, good luck keeping the mobsters out of your pockets.

Originally Posted by exilio

If your websites have income in Panama, you will pay tax to Panama. If they have income in the US, you will pay tax to the US. There's no way around it legally.

The big difference if you have a website anywhere else in the world (say Asia for example) owned by a US corporation, you will owe US taxes.

If you have websites anywhere else in the world through a Panama corporation you will NOT owe Panama taxes.

Whether you would still theoretically owe US taxes is a complex matter, but if you can get people to pay you offshore (for example by credit card or Paypal) then it is not realistically possible for the USA to enforce taxes.

It is the same as an Illinois Corporation that sells over the internet to someone in New York state - it might in theory be liable to NY taxes like sales tax or state income tax, but if it doesn't have any place of business in NY then realistically the taxes won't be collected.

This way you are just adding an international element.

So I would say a Panama corp is an excellent way to hold websites.