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How to open in offshore company in Panama?

Discussion in 'BlackHat Lounge' started by deki33, Feb 13, 2015.

  1. deki33

    deki33 Jr. VIP Jr. VIP Premium Member

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    Can anybody recommend some trusted service that will help in opening company in panama and bank account in other country?
    Or is anyone experienced in this to share how to do it by myself?
     
  2. frenchboy

    frenchboy Power Member

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    Well there's a couple of things you need to consider if the goal is to save on taxes. First is what kind of rules your country has in place for giving up your residency and no longer paying taxes. For example American will always need to pay taxes to America no matter where they live or for how many number of years. But there are workarounds with the no double tax treaties. But no matter what you will pretty much need to establish residency in another country. That means living there for 6+months a year or buying property there.

    Second of all you need to decide the country that will host your company and bank account, then you find an agency to open a corp and bank account for you there. Then you fly there and open the account and sign the documents. There's only so many countries that will allow no taxes from internet revenue so you need to choose among them. Hong Kong is one of them for example.

    Third of all you need to decide which country you will get residency in. Which will mean buying property there or living there for 6+ months a year (or whatever the country requires). Only a few countries all no tax on foreign income, such as thailand, panama, costa rica, etc. You will definitely need to talk to a lawyer over there to have him fill the papers for your residency etc. You will also need to talk to a lawyer in your own country to renounce your own residency in your own country. That might mean closing all bank accoutns and selling all properties there. It might not even be possible for example in America it isn't. This all depends what nationality and residency your currently have.
     
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    Last edited: Feb 13, 2015
  3. ilovelife

    ilovelife Newbie

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    I would love some help concerning this.
    I've been considering Syechelles or Gambia. Did you consider them?
     
  4. deki33

    deki33 Jr. VIP Jr. VIP Premium Member

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    I don't know much about what are pros and cons for having company in each of those countries.
    I wanted to hear real story from someone here who actually own such company.
     
  5. RuthSam

    RuthSam Jr. VIP Jr. VIP Premium Member

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    I used these guys for my Seychelles and Belize corp. they do Panama and HK as well.
     
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  6. deki33

    deki33 Jr. VIP Jr. VIP Premium Member

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    There are so many companies offering such service and most of them old fashion websites that don't show me much trust to be honest.
    Take a look at this one - http://www.offshorebelize.com/index.html
     
  7. deki33

    deki33 Jr. VIP Jr. VIP Premium Member

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    So, how much did you pay for full setup of company and bank account in Belize?
    And why did you choose Seychelles and not Cyprus for bank account?
     
    Last edited: Feb 13, 2015
  8. Capo Dei Capi

    Capo Dei Capi BANNED BANNED

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    How anonymous are they? Like would it be nearly impossible for a private company to get my details from them?
     
  9. RuthSam

    RuthSam Jr. VIP Jr. VIP Premium Member

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    Well, I don't want to go into details with my setup, so general speaking. It's impossible to lookup ownership data of a Seychelles corp. you you are 100% anonymous as long as you don't do any illegal stuff in there like financing terrorism and things like that... For banking you can use Cyprus but there are many other good places for this as well, for instant St. Vincent, Mauritius etc. The account can be opened on behalf of the Seychelles corp. - It has has been of great benefit for me for years.. even though people will tell you it's not legit and you can go into jail and all this stuff. If you play the game right there will be no problems.. it's like BlackHat and WhiteHat.

    Finally it's not illegal to own such a setup you can at any time tell your tax office you have such setup and pay your taxes, so things will still be anonymous but you will pay tax as usual and everyone is happy.
     
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  10. deki33

    deki33 Jr. VIP Jr. VIP Premium Member

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    What about paypal account?
     
  11. RuthSam

    RuthSam Jr. VIP Jr. VIP Premium Member

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    I don't use paypal for my business. I have a credit card solution to accept them online and for all other I use 2co.com and skrill.com
     
  12. thhvancouver

    thhvancouver Newbie

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    I got screwed over using an off shore registry company...
    I would warn you against it any time.
     
  13. RuthSam

    RuthSam Jr. VIP Jr. VIP Premium Member

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    Yes, I also got screwed many times in the BST section and on the WF and at DP.. you need to take care.
     
  14. ilovelife

    ilovelife Newbie

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    Paypal business is available for Seychelles.

    As long as I remember you can withdraw to US or Seychelles Bank account.
     
  15. thhvancouver

    thhvancouver Newbie

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    Even if that was true, how would you be able to move funds from a Seychelles Bank account?
    Sounds like a recipe to make sure that the money disappears if anything.
     
  16. ilovelife

    ilovelife Newbie

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    From what I've read, a lot of sites offer opening an offshore bank account there.
    They require notarized passport copy and utility bill.
     
    Last edited: Feb 13, 2015
  17. MrBlue

    MrBlue Senior Member

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    Be advised that, post 9/11, Panamanian companies are no longer truly anonymous.
     
  18. thhvancouver

    thhvancouver Newbie

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    I wouldn't actually trust it when a lot of sites are offering to set up a bank account there...
    Sounds more like a Nigerian chain mail, if anything.
     
  19. jazzc

    jazzc Moderator Staff Member Moderator Jr. VIP

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    You need to get a bit out of the caves, offshore is a huge business - there's more than a trillion dollars on those islands in the middle of nowhere ;)
     
  20. peepin2me

    peepin2me Regular Member

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    Hong Kong is the best. No tax on income generated outside Hong Kong.