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Dictionary on offshore company incorporation: Terms of offshore services

What is a company Offshore?

A corporation or Offshore Company is known in law as a "legal person" separated, whose liability is limited. A corporation can sell stock, buy stocks, have the right to sue and be sued and also has perpetual existence.

What is a constitution of Company?

It is the legal procedure of forming a Company before a public notary and through a public deed, duly registered and published in the commercial register of the country where it belongs.

What are the articles of incorporation (incorporation)?

The article of incorporation would be the "ID" of the corporation. It would be the document that establishes the corporation (jurisdiction) and contains basic information like name, the structuring of actions, and purpose of the corporation.

What are the statutes?

Regulations are creating the corporation to its shareholders, officers, directors and administrators. The statutes are adopted by the Board as one of the first steps to establish the corporation. Contrary to the articles of incorporation, bylaws are mainly for internal use and can be published in the register if they are requested.

What are bearer shares?

These actions do not indicate the carrier name of the owner of the shares. The certificate is blank so that the person physically holding the document is the owner and can do whatever they want with their actions. The main feature of the bearer shares is to facilitate the transfer of assets. As a rule, do not recommend the use of bearer shares by their negativity before judges and those who make the laws.

What are shares registered?

These certificates indicate the owner's name in the document so the document would be credited to the owner of the corporation. For safety and privacy, we use the Panama Foundation as the owner of the share certificates of the additions we make. The name of the shareholder is registered in the company's internal records. Although the name of the shareholder is registered in the internal records of the corporation, its registered name will never appear in the Public Registry. The action log is an internal document of the corporation available only to directors, officers and shareholders of the corporation offshore.

What are State companies or previously incorporated?

These are companies that are incorporated, ready to sell, buy, protect ... without having been used before for customers.

What is a resident agent?

The Resident Agent is crucial in opening the Company or corporation as it will ensure that the corporation is assigned a registered representative with an address to receive any legal documents or any legal notice that will affect the corporation. The Resident Agent shall transmit these documents to the address of the corporation has registered.

What is asset protection?

The concept of Asset Protection describes the legal concept of transfer of assets to a legal entity to protect them from frivolous litigation attacks, misappropriation of government, spouse attacks, in fact, to protect them from any situation that may threaten their property, your property will be protected and the Panamanian Private Interest Foundation will act as a shield against these unexpected situations.

What is Offshore?

It means removed from the coast or far from the coast, outside their country of residence.

What is a tax haven?

It is a characterized country by little or no taxes applied to citizens and businesses of beneficiaries not residing in the offshore location. If you are interested in having further information you may see a 53-minute documentary on tax havens

What is money laundering?

Masking process of money from illegal activities like drug trafficking, arms smuggling, political corruption, tax fraud, crime, prostitution, public embezzlement, extortion and terrorism into legal money. Our company dislikes this kind of activities and do not offer our services to individuals or companies that target this type of illegal activities, to avoid this we meet the international standard "Due diligence" which is "Know your customer."

What is Forex or FX?

In a very small summary it is known as the market for buying and selling currencies, you can invest in the purchase of Euros, U.S. Dollars, Pounds Sterling, Canadian Dollar, Japanese Yen ... etc.

What is electronic commerce?

Commonly called E-commerce, it is to buy and sell products or services through internet or computer networks.

What is an offshore bank account?

It is a bank account personal or corporate which is outside the country of residence and has some tax benefits that they do not have in their country of residence may be minimal or nil depending on the offshore jurisdiction.

What is a gateway payment and virtual TPV?

It has the power of accepting debit and credit cards on your website or your online business, depending on the type of business it can be considered low risk like a business selling books or it could be considered a high risk business such as a travel agency.

What is a debit card?

It is a plastic card issued by the bank that has the ability to withdraw money from cash machines and make purchases in stores. It differs from Credit Cards the money is taken instantly and directly from the beneficiary's bank account card.

What is a credit card?

It is a plastic card issued by the bank that has the ability to withdraw money from cash machines and make purchases in stores. It differs from debit cards the payment is usually taken within 30 days directly from your bank account to make payment for all purchases or withdrawals made in the last 30 days.

What is an anonymous e-card?

It is a Debit Card which is the beneficiary of a financial business, this card has the power to make purchases anonymously, withdraw money from cash machines anonymously and can recharge the card companies or individuals by bank transfer, check, western union for the recipient of the card.

What is a reloadable card?

It is a debit card that has the ability to reload the card by bank transfer, check, western union and other credit or debit cards.

What is an onshore bank account?

Is a bank account which is located in high-tax countries or countries of residence where the recipient has a corporate or personal bank account.

What is a corporate bank account?

It is a bank account which may be current or fixed term whose beneficiary is a company or partnership either onshore or offshore jurisdiction.

What is a personal bank account?

Is a offshore bank account which may be current or fixed term whose beneficiary is an individual.

What is a private foundation?

It is an entity between a trust and a corporation or partnership and is intended to benefit individuals or companies.

What is a trust contract?

It is a contract in which the settler transfers property to another person may be natural or legal person.

What is a trust person?

It is a trusted person named the beneficiary of assets to manage the property, may be natural or legal persons.

What is a shareholder?

It is a natural or legal person owning shares in a corporation.

What is a legal person?

It is an entity that is used for certain purposes groups that have the capacity to be holders of rights to own property of all kinds and also undertake obligations, an example would be a legal person, corporations, partnerships, corporations and foundations.

What is an individual?

These are people who can acquire rights to own property and contract obligations by the person, the obligation to be considered an individual must have a visible and real existence.

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