BANK ACCOUNT IN PANAMA
Panama offers a platform of fiscal, logistical and banking benefits to foreigners who use Panama as a destination for their currencies. I share some tips that can be very useful if you are interested in offshore bank accounts in Panama:
Find out about the benefits Panama offers
Panama has the best tax platform for offshore business, since we have a territorial tax system, that is, offshore income (income derived from activities outside of Panama) is not taxable by the Panamanian government.
Non-resident (offshore) companies in Panama offer some of the following tax benefits:
· No income tax: companies in Panama do not pay capital gains taxes on income derived from sources outside of Panama.
· No capital gains tax: companies in Panama do not pay capital gains taxes on profits derived from the purchase and sale of securities traded outside of Panama.
· No interest tax: companies in Panama do not pay taxes on any income earned from bank interests, whether inside or outside of Panama.
· No sales tax: companies in Panama do not pay taxes on sales of products or services carried out abroad.
· There is no tax on the issue of shares of the company: companies in Panama do not pay taxes on the issue of shares.
· There is no tax on dividends from shareholders: shareholders of offshore companies in Panama do not pay taxes on dividends, on income generated from sources abroad.
When it comes to investing your money there is a wide spectrum of possibilities, some more complex than others. Panama has always been characterized by being a reliable investment destination, with legal certainty, a first-world banking system and a dollarized economy. This last point gives stability to your investment as the dollar is a strong currency and is not subject to many exchange factors.
In Panama, with adequate advice, you can set up an investment portfolio in real estate, term deposits and investment in local companies and obtain stable and interesting returns. In this article I am going to talk to you about time deposits with Panamanian banks.
Let's start with the basic question What is a fixed-term deposit?
A fixed-term deposit is a product in which the client gives the bank an amount of money over a period of time in exchange for remuneration in the form of an interest rate on the borrowed capital. Payment of this interest can be made at the end of the period or in installments during it.
If the client claims his money before the end of the agreed term, it is usual for banks to consider a penalty that usually translates into a drop in the profitability offered, so it is very important when hiring this product to take into account the possible need for liquidity of the invested capital.
I hope the information has helped clarify your doubts and if you had no doubts at least to know about the comparative advantages of opening a bank account in dollars in Panama. If you want we can talk, just send me a message by filling out the contact form that you find in the menu or if you have already decided to coordinate a web meeting to talk about your new bank account, I leave you the link below.