If you are utilizing the global marketplace to transact business then the term "offshore" is not something that will be new to you. Given all of the negative media attention focused on the word offshore it is advisable to use the services of a Panama law firm when considering Panama as your offshore destination to ensure that your conversations and transactions are fully protected by attorney - client privilege. There is a number of "firms" on the internet that say they are Panama law firms when in fact they are not so it is advisable to seek a referral.



Choose Wisely And Improve Privacy

Using the services of a proper Panama attorney ensures that the offshore corporations and other financial structures you set up will all be legal and binding by Panama law. In addition, as mentioned before, using the services of a law firm ensures your privacy is also protected. Using the services of a non-lawyer is like a loaded gun pointed at your bank account saying "blow it away". A non-lawyer does not have to report to the Bar association and does not have a law license to lose if they don't respect your privacy. You will also not be protected by attorney - client privilege which is your first line of defense in a legal battle over your assets.

Using A Panama Law Firm To Incorporate Offshore

Visiting the country is not required to incorporate a Panama company if you are using a Panama law firm to handle your company registration. Incorporating your offshore company is just your first step in your asset protection strategy. Most likely you will need a bank account for your corporation in order to manage money. It is here that you will find not all Panama law firms have the same capabilities. Any law firm can set up a corporation for you but not many are able to set up a bank account for your corporation without you visiting the country. Panama banks are leery of being blacklisted for running illegal money laundering and drug transactions. They like to know who their clients are. If you incorporate with a law firm that uses nominee directors the bank will know who did the incorporation by these director names. If that law firm has sent them bad clients in the past they get blacklisted from opening bank accounts.

Using the services of a lawyer who is in your local jurisdiction is not advisable, at least not by themselves. Only a Panama lawyer is intimate with Panama law and has all of the contacts and connections in Panama itself to set up your asset protection structures properly. You could have your local lawyer act as a filter to ensure that you are being represented in a good way by your Panama law firm but ultimately you should have the actual work done by a Panama law firm.

Help, They Want My Money

If you run into legal problems regarding your money in your home country which does not have tight banking secrecy laws probably means your assets are going to end up frozen with little or nothing you can do about it. Since you are smart and you have sent some money offshore this means in order to come after your money the attacking party will need to file litigation in Panama in order to even contemplate having your assets frozen. This is if they can even figure out what companies / bank accounts are really yours. And if you have set up your asset protection strategy properly even if they know a company and bank account is controlled by you it still does not guarantee they will be able to get your money.

Sociedad Anonima

Staying anonymous in Panama is still possible through the use of anonymous bearer share companies which your Panama attorney should have no problem setting up on your behalf. Bearer share corporations omit your name from any official registration documents while at the same time you retain total control over it.

Lawyers will also help you make sure that the publicly recorded nominees of your corporation or foundation have no personal knowledge of the owners. A good law firm in Panama will work hard to make sure that there is strong attorney client privilege in place. They will check to make sure that the country you are from has no existing tax treaties with any Panama.

Panama Lawyers Have The Answer

Panama law firms will help you properly navigate the legal issues to set up your offshore corporation and they will make certain that all privacy concerns are addressed properly. They know Panama law and can make sure that you have all the proper paperwork in place and can also make the process of getting incorporated much quicker, because of their relationships with Panama's banks.