Free Panama corporation - registered since 2018, give away

[panamanomad]

I have a Panama corporation, transferred from a friend to me, just for the purposes of gaining the Friendly Nations Visa. I'm now a permanent resident, and so no longer need the corporation.

The corporation doesn't have a bank account, and has no trading activity, but has had its registration maintained and relevant taxes have been paid to maintain it in a clean and active status since 2018.

Instead of paying to dissolve it, I'm thinking a better option would be to transfer it to someone who could use it.

I will give it away for free - no charge, but you'll need to pay the legal fees to change the name(s) of the directors etc to your lawyer (which is around $250 I believe).

I had a consultant tell me that he could sell it for $1500 ... but he didn't deliver, and so I'm reposting this... to give away for free.

@sonato @JamesDonkey ... you were interested previously, it's yours if you want it. I use tutanota as 'techadventurer' - get in touch.

 

[AMD]

Wonder why no one has taken this company already??

 

[22kay]

Just a side note, you don't really need to pay to have it dissolved? If‌ you do nothing, it will be dissolved over time, right?

 

[erni]

that's true and how it works in almost any country.

 

[panamanomad]

@22kay @erni I was told by my lawyer that they'll disolve it for me for‌ $800... but he was strongly hinting that many people do just leave it and eventually‍ it gets struck off. It seemed like there might be some risk there though that⁠ at some point the company registry or whoever might try and claim for past years⁤ costs, and so my preference is to give it away instead and then it's clear.⁣ Especially if it's useful to someone.

I believe the cost is around $1500 to set⁢ up a new company, and actually an older company is considered more valuable.

 

[JamesDonkey]

I am interested @panamanomad

Will contact you

 

[Golden Fleece]

All of the new accounting requirements, which began in 2016, and the associated high yearly fines‌ for non-compliance? Panama is no longer a good place to incorporate, unless you actually do‍ business there.

https://icazalaw.com/new-accounting-records-requirements-in-panama/

 

[KOTF]

I am interested if it's still around. In Panama, I will currently help in opening‌ an account.

 

[JackAlabama]

Yep, it has now only⁠ downside, unless as you said you do business on the ground, live there or invest⁤ locally.
Banking was always a nightmare and very bureaucratic, since 2017 at least.
And I⁣ am not talking about they prohibiting you entering their precious branches with shorts 😉

 

[panamanomad]

@JamesDonkey @KOTF - I'm currently going through the‍ process with my lawyer to transfer it to someone else on the forum (who sent⁠ me a message first) - if it doesn't go ahead for whatever reason with him,⁤ then I'll post you a message on here so that one of you can have⁣ it! Thanks.

 

[KOTF]

Well, I am leaving tomorrow, or you just hit me a message, and I will‌ do what is needed. Thanks for your consideration.

 

[JamesDonkey]

@panamanomad alright.

Just in case -- an email I sent you a message from was‌ r*****i @ protonmail . ch

 

[erni]

why is this company not long gone ?

 

[fshore]

Why? There is still 0% taxes for⁤ foreign source income, you just have to do accounting for the offshore income.

 

[JackAlabama]

As I wrote, banking etc‍ is a nightmare.

I can also have a USA LLC which has also 0% for⁠ most cases and given your personal tax situation is fixed, is cheap and easy to⁤ use and good reputation compared to Panama.
Only in very specific cases does such a⁣ corp makes sense.

 

[erni]

Guys you could stick to topic? OP offers a free panama company to whom want‌ it !

 

[JackAlabama]

Whats written is very much on topic and answers your⁠ question "why is this company not long gone". 😉