A: Each Panamanian corporation package comes complete with articles of incorporation (with official English translation), resident agent, registered office, share certificates (issued either to the Bearer, or in Nominative form), and a resignation letter from the subscribers. Foundations include the registered foundation charter (with official English translation), resident agent, registered office, and notarized Private Protectorate Document.
Optionally, you can ask us to provide nominee directors or council (no additional fee). In this case we will also include pre-signed, undated letters of resignation from each director (or council member), plus a Notarized and Appostiled General Power of Attorney. The Power of Attorney comes with a blank space so you can complete it with any name you want. The persons name who appears in the Power of Attorney would have authority to actually operate the corporation (or foundation), e.g. sign contracts, open and operate bank and brokerage accounts etc.
We also include one corporate brokerage account with each package. When you purchase the entity (corporation or foundation), you will receive the brokerage account application forms - all you need to do is to sign them where we indicate and send them back to us along with a photocopy of your passport or valid photo ID, one financial reference letter, and the initial deposit of US$3000 (check, wire, or e-gold).
Q: What are nominee directors and nominee signatories?
A: Nominee directors (or nominee council members) are directors that our law firm appoints for you. Each corporation or foundation must have 3 directors appointed when the entity is registered in the public registry of Panama. The directors names and passport numbers are on the public deed of the corporation (or foundation) and this information is publicly available. In many cases, our clients prefer to NOT be appointed as directors on the offshore entities due to either privacy reasons, or foreign public directorship reporting rules in their home countries. When we appoint nominee directors on our clients entities, we provide our clients with pre-signed, undated letters of resignation from each director so they can replace the directors at any time. The nominee directors we appoint are only there to fill in the blanks at the public registry and they have no authority over the entity for any kind of decision making.
Nominee signatories are signatories that our law firm appoints for you on your corporate accounts. In many cases, our clients prefer to not be the signatory on the corporate accounts due to either privacy reasons or foreign account signing reporting rules in their home countries. When we appoint nominee signatories on our clients corporate accounts, we charge an annual fee of US$1000 (or 1%, whichever is more) for this service. When our clients want a transaction done on their corporate account, they would simply contact a designated service representative within our firm, and make the request, then we forward the request to the bank or broker to execute the transaction.
Q: Can I transfer securities to the corporate brokerage account that you set up for my corporation?
A: Yes, once the corporate brokerage account is set up, we will provide you with DTC instructions to transfer the securities to the corporate brokerage account. All you need to do is instruct your broker to DTC transfer the securities to the instructions we provide. If you have stock that is in physical certificate form, you must either deposit the stock in a brokerage account and DTC it to the corporate brokerage account, or have the stock certificates re-issued in the corporations name, then send the certificates to the brokerage firm along with the stock powers and the brokerage firm will deposit them into the corporate brokerage account.
Q: Can I transfer mutual funds, IRA's, 401K's, or pension funds to the corporate brokerage accounts that you set up for my corporation (or foundation)?
A: In most cases, mutual funds can be transferred without a problem through a DTC transfer if the are publicly traded mutual funds. Otherwise, if they are mutual funds that are not publicly traded (they do not have a symbol on the market like a stock), then it is slightly more difficult as you have to instruct the mutual fund company to transfer the ownership to the corporation. We do not assist our clients in transferring mutual funds, we only provide DTC instructions to transfer publicly traded securities. IRA's, 401k's, or pension funds cannot be transferred to the offshore corporation or foundation.
Q: Do you provide additional services such as legal consulting, corporate mail forwarding, etc.?
A: Yes, we provide legal consulting, however, we charge US$100 per hour with a 3 hour minimum (US$300) which we require that you pay in advance for. You can contact us for details. We also offer corporate mail forwarding services, corporate contracts and agreements, legal immigration services, real estate law, and much more.
Note: If calling to Panama from the US or Canada, you must dial "011" prior to the country code (507).