Panama has the best Bank Secrecy and Privacy Laws in the world because of these 5 Reasons:
Maintain your Privacy with the Panama's Secrecy Laws
For Panama Bank Secrecy and Privacy Laws to be used effectively, an Anonymous Panama corporation is essential. We provide Nominee Directors for the corporation, so that your name will not be registered with the government of Panama. That way, your name cannot be traced back as the owner of the corporation.
With an Anonymous Panama Corporation, you can keep your privacy since your personal info will not be available anywhere in the government's public registry.
International corporations and international tax attorneys understand that Panama’s Bank Secrecy and Privacy Laws make it a criminal offense for any bank employee to divulge any information about their clients unless they receive a court order showing that they are charged with:
- financing terrorism
- drug trafficking
- money laundering or
- other serious crimes.
In Europe, North and South America, it’s OK to call your bank and make sure that your payor has enough money in his account before depositing his check.
Panamanian judges will not issue court orders
for tax issues
Common sense dictates that the Common Reporting Standard (CRS) cannot apply to Panama given that the Anonymous Panama corporations do not have to file Tax Returns for income generated outside Panama. When it comes to Panama the Automatic Exchange of Bank Account Information is simply not enforceable.
In spite of the international propaganda instigated by “Panama Papers”, Panama’s Bank Secrecy and Privacy Laws remain in effect. It is still a criminal offense for bank employees to give any information about clients’ accounts without having court orders.
Because of Panama’s Bank Secrecy and Privacy Laws, some people believe that opening a personal bank account in Panama will be enough to keep their assets secure and private.
A personal Panama bank account is linked to your name
When you transfer funds to your personal account, your name is traceable by the banks in your country of residency. Funds transferred to your personal account may be considered taxable income unless appropriate precautions were taken for correct declarations. Panama’s Bank Secrecy and Privacy Laws cannot change the fact that a personal account will show your name, and therefore will be traced back to you in various ways.