OVZA
New Horizons Paraguay
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Please convince me. Real advantages of owning a corporation.

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OP clearly stated he has NO company! He is NOT doing ANY business with anyone!⁠ He's NOT a manager of ANY company!

BTW, I'm done with this!

@Panamood - You⁤ are fine! No need to waste your precious money or time adding additional (negative) things⁣ to your life that will NOT increase your wealth or increase the simplicity of your⁢ life! You have won! Enjoy your winnings and have a great time at Casco Viejo!︀ If you see Manos de Piedra give him my regards. 😉
 
limit personal liability? Yes, true. But this is not‍ the US. People leave each other alone.
Life more flexible? Hell no. Unless by flexible⁠ you mean dealing with lawyers and compliance requirements.....
 
I don't understand. If he owned a limited liability company and then ran someone over,‌ I'm sure the company would still be considered one of his assets?
So how would‍ it be different if he was owning 100% in a company that was owning stocks/ETFs,⁠ or owning those investments directly?
If push came to shove, they'd make him sell a⁤ part of his company instead of selling his stocks directly...?
I really don't understand what⁣ people are getting at.
Sure, if he was doing freelance work, I would see the⁢ point, but how would owning what would essentially be a holding company limit his personal︀ liability?! It's not like the company would be driving the car.
Oh, he could set︁ up a trust or foundation... And then pay 20-50% of his current annual expenses for︂ the setup? And risk that someone would run with his money...?
 
You are 100% correct! OP has already won in life! He doesn't have to︃ do anything else, except enjoy his life and improve on his health. Life is good︄ for OP. 😎
 
Global personal liability insurances exist, in that case I don't see the point forming a‌ company in order to only protect assets either.
 
I'd argue that there is a 99% chance that you don't need a corporation, just‌ keep it all under your name.

There is a 1% chance of things going really‍ wrong. Things that could happen:
  • The status quo could change in Panama. Having a company⁠ somewhere else would make it easy for you to leave to a new country, no⁤ need to deal with your brokerage accounts abroad to change residency, or potentially having the⁣ accounts closed.
  • Your personal financial information could fall into the wrong hands (e.g., a data⁢ leak). Most people in this world are really nice, but there are also lots of︀ assholes, criminals, politicians and experienced gold diggers that could suddenly become pregnant with your baby.︁ With holding corporations that reside abroad, you get extra layers of protection and it becomes︂ way less clear how much money you actually have, or if you even have any︃ money at all.
  • Similar to the above, you could see yourself involved in a serious︄ court case, where the prosecution may go for a big chunk of your personal assets.︅ Not only a company offers an additional layer of protection in these cases, but also︆ for the prosecution it's much harder to know how much money you actually have.
  • Many more.

Again, chances of any of the above cases happening are slim, but sh*t happens.︇ How much money you have is also part of the equation. A person with 100M︈ USD would probably want to get all risks as close to 0% as possible, and︉ so they should set up a variety of holding corporations, as well as have some︊ assets under their name.

For the average Joe, like you put it, at least you︋ should diversify. Having only 1 local bank and 1 brokerage account is risky.
 
Unless you predict US economy will tank against SG/HK‍ over the remaining years you have to live, I think US stocks/ETFs total return is⁠ still better over time even deducting 30% WHT on US dividends. Are you OK with⁤ that?
 
Could you elaborate?
Moreover you may suffer from currency exchange as Panama economy is pegged‍ to USD.
I guess you don't wanna deal with US regardless of potential yield loss,⁠ any particular reason?
 
Punta Paitilla in the city. I bought an older building‍ apartment there. I speak perfect spanish and understand the local culture, so I can see⁠ their bull2hit from the distance. This helps.
In fact I have helped many friends opening⁤ bank accounts here.. Finding good deals on apartments.. Without dealing with money-hungry lawyers.
My daily⁣ life is pretty simple. Cafés, sports, trips & girls. I also study other languages and⁢ play chess as 'intelectual' hobbies.
My only luxury is Graciela, the woman who cleans my︀ house and does my laundry once a week.

Life is easier when you realize what︁ actually makes you happy.
 
Give this intellectual King disguised‌ as a "regular man" an award!
This Wisdom Intellect has cracked the code of life!‍ 😉

PS. Geez...I wished I was this smart 20 years ago! stupi#21
 
I have total confidence in Singapore &⁠ zero interest in the US. I earn more money than I need. If my decisions⁤ imply potential yield loss, so be it.

Thank you for⁢ your kind words, but as I have said it all comes down to finding what︀ ACTUALLY makes you happy
 
100% correct! I was in Panama in Punta Pacifica 20 years ago and allowed‍ attorneys from the US and Panama to bamboozle me into getting a "ruling". I was⁠ so happy there and I was left alone. I should have hung up on those⁤ lawyers! C'est la vie.

We both found it. You are smart enough to keep it!⁣ Cheers to you, my friend!
 
One can be equally⁤ happy with a better investment strategy. In fact, I'd argue that one is happier with⁣ a more diversified stock/countries allocation, since it reduces risk, increases long-term profit and doesn't alter⁢ one's lifestyle.
 
Panamood, where would you buy an apartment to rent in Panama these days to get‌ up to $1500 a month? Is there a way to pay with crypto? Are there‍ trustworthy property management companies in big cities?
globalpropertyguide.com says that the best yields are for⁠ studios in Coclé (10%) and in Bella Vista (8%), for 1 bedroom they recommend Santa⁤ Maria (11%)
 
Santa Maria is too expensive. Coclé is too⁣ far. Bella vista is the way to go for yields. Also Paitilla and Via Porras⁢ for older buildings. You can find small apartments 1br for +- 100k. Biggest hospital in︀ the country is in bella vista so plenty of young doctors and nurses will rent︁ 1 bd apts long term.

Check this one for example, construction will start this month︂ (latino time).

https://www.encuentra24.com/panama-...lt&catslug=bienes-raices-venta-de-propiedades
Also a used one in Paitilla, where I live.

https://www.encuentra24.com/panama-...enes-raices-venta-de-propiedades-apartamentos
To make︃ 1500$ off those you need to go the airbnb route. Riskier too and of course︄ it requires a property manager.

There are property managers... But even the american owned companies︅ provide latino service.

If you are really interested in Panama and want western-level service, send︆ me a private message. I can help you with anything ( banks, property, dealing with︇ fookyn lawyers or just showing you the city) for a price.

PD: Crypto is doable︈ if you know the right people.
 
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