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Legitimate Choices for Managing Directors in Offshore Companies’ Voting Processes

August 19, 2009 on 12:47 am | In Uncategorized | Comments Off

Offshore Corporation Facts:

* Being The Second Most Favorite Jurisdiction in the World: Panama is the documented location for more than 400,000 business establishments and institutions, making it the second most popular jurisdiction to incorporate in the world, next to Hong Kong.
* No Coverage Requirements or Taxes: Panama does not impose any reporting necessity or taxes for non-resident Panamanian corporations.
* No Piercing the Corporate Veil: Panama does not allow corporate examination, so your Offshore Companies books are maintained completely secluded and classified by law.
* Anonymous Ownership: Panama corporations share credentials can be published in Nominative or Bearer form (Bearer Share are an anonymous form of ownership), with or without par value. Neither the directors nor the officers of Panama corporations need to be stockowners.
* No Capital Requirements: Panama corporations do not command Paid-In Capital, nor is there a time boundary in which formalized capital must be fully paid.
* Directors: Each Panama corporation needs 3 directors/officers (President, Secretary and Treasurer). The directors/officers can be either individuals or entities. Panama Corporation’s directors, officers and stockowners may be of any nationality and citizen of any country. The director’s names and identifications must be introduced in the public registry when the organization is made.
* Nominee Directors: We offer our clients the optional service of using our Nominee Directors for their corporation(s). For determinations of confidentiality, most of the clients opt that I offer nominee directors/officers for their corporations. When I choose candidate directors for the organizations that I create for my customers, I always supply my clients with pre-signed, undated letters of resignation from the directors so that my customer can exchange those managers at any time.
* Directors or Stockowners Assembly: Annual general assembly of either shareowner or managers of the corporation are not mandated or necessary. Nevertheless, if conventions are declared, they can take place anywhere in the world by representation, via telephone, email or other forms of communication. Any resolutions passed are validated disregarding of whether they are signed on distinct appointments or in dissimilar jurisdictions.