Incorporate an offshore corporation in Panama

Formation of offshore corporation in panama is relatively pain free and also offers the businessman a privacy protection degree which the onshore company cannot provide. Panama has been the most flexible and modern corporate laws in the Latin America and also all over the world. To form a new offshore corporation in the panama you must consider the following information:
Corporation name: It can be in any kind of language, but it should end in an abbreviation or word representing that it is the corporation.
The purposes and objectives of the corporation.
Duration level of the corporation, generally continuous.
The addresses and full names of 3 or more officers and/or directors.
The residence of the corporation.
Usually, the time period for an offshore formation takes about 5 to 7 days. The offshore corporation is form by the Operational Officer, a Panamanian lawyer. The offshore formation includes three nominee directors and all the documents are translated into English for a particular amount as fee with a certain amount as its maintenance fee. To incorporate IBC, the company needs to consult a jurisdiction advisor in order to get licensure and also to insure compliance with the local laws. Such type of company will naturally open a bank account in an offshore which may be, or may not, be in the similar jurisdiction.