| Bank Account - One of the first places to start with | | | | illegal for the bank to respond. They would not even |
| asset protection is with an offshore bank account in | | | | respond to say they are not going to respond. So if |
| a favorable jurisdiction. A favorable jurisdiction is one | | | | a national government requests information regarding |
| in which bank secrecy laws are in place without a lot | | | | a serious criminal matter (that is also a crime in |
| of loopholes found in many formerly good | | | | Panama) using the proper channels in government on |
| jurisdictions that have gone bad. Bank secrecy laws in | | | | both sides and it is one of the four categories of |
| Panama call for prison sentences and/or fines for any | | | | crimes, then it has a chance of eventually being |
| bank employee, officer or owner who divulges any | | | | complied with assuming they push hard enough. In |
| information about a bank account or account | | | | Panama all tax violations are not crimes just civil |
| holder(s). This generally tends to curtail any leaks of | | | | offenses. If it is a civil matter from another country, |
| information. The only way the bank can legally divulge | | | | it will almost assuredly never result in any information |
| any information about you or any bank account | | | | being produced. If private attorneys or local |
| associated with you is by court order from a court in | | | | (non-national) courts request information or action |
| Panama. Panama has no tax treaties with any | | | | the chances of anything coming of it are just about |
| country, does not allow any fishing expeditions from | | | | zero. |
| foreign governments, all tax offenses in Panama are | | | | For further information click here: |
| civil offenses not criminal and Panama does not | | | | Panama as a Tax Haven Considerations: |
| pursue fiscal offenses. | | | | Another aspect of a favorable jurisdiction like Panama |
| In the USA most private detectives have little or no | | | | is that there is no income tax applicable to you, your |
| trouble getting bank account information for clients. | | | | corporation, or foundation if you chose to use one. In |
| Their methods are highly illegal but we never hear of | | | | Panama there is no income tax corporate or personal |
| any of them getting prosecuted. There are some | | | | for offshore derived income, no inheritance tax, no |
| offshore jurisdictions which tout bank secrecy but | | | | probate tax, no capital gains tax, etc. This of course |
| there are no laws on the books concerning this | | | | eliminates any filing requirements with Panama and by |
| matter. This is the case with a fairly popular | | | | default eliminates any chance of a return being |
| Caribbean jurisdiction, Belize. | | | | audited. Panama companies which do not carry out |
| For more information on Panama Bank Accounts click | | | | activities within the Panamanian territory and which |
| here: | | | | do not obtain income from a Panamanian source, are |
| Panama Anonymous Bearer Share Corporation This is | | | | only subject to the payment of a fixed annual tax of |
| your second layer of protection. In Panama there is | | | | $300.00 dollars. It doesn't get any better than this |
| no recording of the owners of the bearer share | | | | and even if you have an office in Panama, Phone in |
| corporation anywhere. There is no registry to look | | | | Panama, Bank Account in Panama etc. this does not |
| such things up in with or without any court order. | | | | change anything as long as your income is derived |
| The ownership of the corporation is based on the | | | | from outside of Panama. Examples: You have a |
| physical ownership of the stock certificates. These | | | | website and conduct e-commerce and sell goods |
| corporations are 100% anonymous. This means when | | | | services from a Panama Server but to people who |
| wires travel through the various wire systems no | | | | are all not in Panama then you are good in that all |
| one can determine who the natural persons are | | | | your income is offshore derived, you are just |
| behind the corporation. If you title real estate to the | | | | collecting it in Panama but it is coming in from |
| corporation it makes the real estate anonymous. The | | | | non-Panamanian sources. You have a restaurant in |
| corporation can also own boats, cars, collectibles, and | | | | Panama - whoops no good now you are conducting |
| stock trading accounts in addition to bank accounts. | | | | business in Panama and your income is from Panama |
| For more information on Anonymous Panama | | | | people. Where your company is domiciled is not the |
| Corporations click here: | | | | key, the key is where your income comes from. |
| Panama Private Interest Foundation The third piece | | | | For more information click here: |
| of your asset protection structure is an anonymous | | | | Banking Privacy |
| Panama Foundation. One of the nice things about | | | | One of the greatest advantages of having an |
| Foundations is they have no owner. They are | | | | offshore bank account in a favorable jurisdiction like |
| anonymous and the foundation can have confidential | | | | Panama is that no one needs to know it exists. The |
| instructions to carry out the detailed wishes of the | | | | bank does not check with any credit bureaus or like |
| founder. It is like a will and trust in one only better. If | | | | agencies since that would violate the bank secrecy |
| you have your Panama Foundation own your bearer | | | | laws of their country. So the chance of anyone |
| share corporation it positions you to say you do not | | | | knowing you have the account is pretty low |
| own the corporation because the Foundation does | | | | especially if you check your statement online. We |
| and you could say you do not own the Foundation as | | | | always advocate never having bank statements |
| well. Remember the other side would probably never | | | | mailed to your home country. Panama bank secrecy |
| figure out who owns the corporation, in other words | | | | is very tight, actually the best in the world right now. |
| they may never have any idea that the foundation | | | | If a Panama Bank were to release any information |
| exists. If the foundation has a name unrelated to you | | | | pertaining to you and or your bank account without |
| why would they assume it is yours? In Panama the | | | | your authorization it would be a criminal and civil |
| assets of a Panama Foundation are not subject to | | | | penalty they would be facing plus you could sue the |
| sequestering, which means the bank account can not | | | | bank for any damages as a result of such an |
| be frozen pending some court case. | | | | occurrence. |
| For more information on Panama Foundations click | | | | For more information click here: |
| here: | | | | Personal Bank Accounts |
| Governmental Pursuit of Funds | | | | Today you will need to show some form of |
| What happens if the government of some country | | | | identification to any bank in the world to have your |
| attempts to attach your money in Panama? The | | | | name as a signatory or beneficial owner on any bank |
| world is full of dictatorships and non-democratic | | | | account. This is a universal treaty that is complied |
| regimes. Well this again is a different matter. These | | | | with all over the world. The ID required typically |
| cases start with a request for information. The | | | | takes the form of a photocopy of a passport and is |
| request is made through the embassy officials in the | | | | notarized. Sometimes it can be faxed in, sometimes |
| bank's country. It is a formal procedure requiring the | | | | mailed or courier sent, all depending on the bank |
| requesting country to cite specific reasons for the | | | | involved. The days of unidentifiable numbered bank |
| information which usually means providing evidence of | | | | accounts are long gone. If you hear of a bank that |
| a criminal case filed in their criminal court system | | | | will open an account without identification rest |
| pertaining to a handful of serious crimes in cases | | | | assured it is not a real bank. The same for Visa or |
| concerning Panama (real serious money laundering, | | | | MasterCard, they always require the same type of |
| narcotics trafficking, child pornography and terrorism). | | | | identification as the bank account. Anonymous Visa |
| The country would have to show Panama why they | | | | or MasterCards is something that no longer exists. |
| need this information, why it is essential to the case | | | | Same with corporate credit cards. Now they always |
| and explain why the information can not be obtained | | | | have to have a persons name on them in addition to |
| any other way. These requests are not favored by | | | | the corporate name. This is mostly so a store clerk |
| Panama and they will comply if the T's are crossed | | | | can ask for ID to prevent use of stolen credit cards. |
| and the I's dotted. It usually takes from 6 months to | | | | ATM cards are often issued anonymously with no |
| two years for such requests to be granted, if they | | | | name on the card. Some do use this type of account |
| are granted at all. Granting such requests for a | | | | as a sort of anonymous bank account having funds |
| non-criminal case does not fit the terms of the | | | | wired into these ATM accounts but this is not a solid |
| MLAT. The offense concerning the criminal case in | | | | solution and does not take the place of a real bank |
| the courts of the requesting country must also be a | | | | account since funds can only be taken out via ATM |
| crime in Panama. All tax offenses in Panama are civil, | | | | machines and your ATM account is normally just a |
| not criminal. | | | | sub-account of the master account holder who really |
| The courts in Panama would eventually issue an order | | | | has control over your money. It is always safer and |
| if they felt the requirements were satisfied which the | | | | easier to open up a bank account using a corporation. |
| Panama police would fulfill by getting the bank | | | | Remember the money in the corporate bank account |
| records and they would deliver the information to the | | | | belongs to the corporation in Panama and it will be |
| requesting country's embassy. An order typically is | | | | difficult for a financial enemy to attempt to transfer |
| for information only. A request to actually tie up the | | | | a personal debt over to a corporation. Just proving |
| funds in the bank is much rarer and harder to obtain. | | | | you in fact do own an Anonymous Panama Bearer |
| Panama would not respond to a government that is | | | | Share Company can be a major hurdle that stops a |
| not a national government such as a city, state or | | | | lot of litigation before it starts. Having a Panama |
| province, or territory. Let me give you a hypothetical | | | | foundation own the corporation makes this even |
| example. The bank officer gets a phone call from an | | | | harder for potential financial enemies since you could |
| attorney representing the state of Texas. The state | | | | then say you do not own the corporation and since a |
| attorney says he is inquiring about a Mr. John Brown | | | | Panama Foundation has no owner you would not be |
| bank account and identifies the John Brown he is | | | | lying. They will face a tough burden of proof, a |
| interested in. The bank officer then says Sir I am | | | | statue of limitations, substantial legal expense, years |
| sorry but if I even acknowledged that we did or did | | | | in court and many other obstacles trying to collect |
| not have an account for such a person I would be a | | | | personal debts from a Panama Corporation or |
| criminal under the laws of my country and then | | | | Foundation, especially when both are used. |
| politely gets off the phone fast. Or the bank | | | | Remember assets like bank accounts belonging to |
| employee can say something like "You don't want to | | | | Panama Foundations are not sequesterable in Panama |
| make me a criminal, do you". The flustered state | | | | which means the other side can not post a bond and |
| attorney would then say well I have a court order | | | | get the judge to freeze the bank account pending |
| for this information, to which the bank employee | | | | the outcome of the trial. So this means the other |
| would respond that the order has no authority in my | | | | side comes to Panama, hires an attorney here |
| country or at this bank. See how it works. If the | | | | (expensive) starts the action and then guess what, |
| attorney sends the bank a subpoena it winds up in | | | | you may be inclined to move the Foundation assets |
| the shredder with no contact to the agency sending | | | | elsewhere during the trial so if the other side gets a |
| the subpoena. If pushed the bank would say they | | | | court judgment in Panama and you no longer have |
| had no idea who sent the subpoena, whether or not | | | | assets in Panama what good does the judgment do |
| is was counterfeit or real, and their laws do not | | | | them? Now this is assuming your financial enemies |
| require them to respond since the subpoena was | | | | even know about the Foundation. It is not common |
| without authority in Panama and it would thus be | | | | to see such lawsuits. |