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Special EU & EURO Warning – December 14, 2011Offshore Jurisdiction Comparison 
Guatemala CorporationGuatemala Bank AccountAnonymous Master Card and VisaHigh Limit Anonymous Offshore Visa & MasterCardAndorra Private Banking Swiss Forex and CFD Trading AccountFOREX and FUTURES Bank Account for BrokersForex Professional Broker Trading Accounts Offshore High Risk Merchant Accounts
Second Passports and Citizenships – Read this First PleaseWhy You Should Use USPensionado/Poor Man's Second PassportPoor Man's Second PassportSecond Passport and Second Citizenship ProgramsGuide to Economic Citizenship Passport ProgramsGetting Out of Dodge – May 18, 2012Getting Out of Dodge – May 14, 2012Getting Out of Dodge – May 11, 2012Getting Out of Dodge – May 9, 2012Getting Out of Dodge – May 7, 2012Getting Out of Dodge – May 2, 2012Getting Out of Dodge – Apr 26, 2012Getting Out of Dodge – Apr 25, 2012Getting Out of Dodge – Apr 23, 2012Getting Out of Dodge – Apr 12, 2012Fall of the American Empire – Update October 22, 2011Fall of the American Empire – Update October 15, 2011Fall of the American Empire – Update October 13, 2011Fall of the American Empire – Update October 12, 2011Fall of the American Empire – Update October 4, 2011Fall of the American Empire – Update September 26, 2011Update on the Panama USA Tax Treaty – Dec. 1, 2010Panama and USA to Sign Tax Treaty for Exchange of Tax InformationRead This Before Considering Panama as a Offshore JurisdictionPanama Ending Anonymous Bearer SharesPrivate Offshore Panama Bank AccountHow to Get a Non– Freezable Bank AccountPanama Virtual Office for Panama Bank DepositsPanama Real Estate Purchaser Legal RepresentationMolotov Cocktail Riots in GreeceIraq Dinar Revaluation – Exercise CautionReduce Legal Bills – Outsource Legal Work to IndiaDon't Travel With Your Gold CoinsSingapore Caves in to OECD Tax TreatiesGoing Off the US DollarOECD Tax Treaty Compliance FailingImportant Banking News Alert – Bank Reference LettersWhat Do You Want To Protect?Private Offshore Panama Bank AccountPanama Virtual Office for Panama Bank DepositsImportant Banking News Alert – Bank Reference LettersReal Estate Asset ProtectionPanama Real Estate Purchaser Legal RepresentationAnonymous No-Name Debit ATM CardThe OECD and the Tax HavensAnonymous Visa Cards (New May 2009)Asset Protection – Gold, Silver, USD, Euro, Yen, Swiss FrancNevis OverviewNevis Economy, Currency Exchange Controls, and Economic LegislationNevis Government and Legal SystemObama Muslims and Women's RightsAmazing Obama Birther Case Hits Supreme Court – 10/5/10Retired Three Star General Pushes Against Birth Certificate Free ObamaObama Wants Your Pension/Retirement MoneyObama and His AgendaElena KaganRetired US General Calls for Resignation of Obama - NowObama Kenya Birth Certificate Pops UpEU Times Online Publishes an Expose on Obama IneligibilityArizona Stands Against ObamaKenyan Government Official Cites Obama as Being KenyanLatest Obama Rumors – Columbia UniversityIs Obama a Muslim?The Farce of the G–20Obama Muslim StampObama and CommunismObama Scary TruthsObama Kenya Birth Certificate ObtainedObama Hidden Tax IncreaseThe Obama Not Qualified CaseObama Birth Certificate FraudObama Playing Golf with UBS America President Robert WolfAsset Protection in the USAWhat Will You Do if the FDIC Fails?Municipal Bonds – The House Built on Sand CollapsingDead Birds and Fish – Is this Bible Prophecy?Student Loan BubbleObama and this Once Great NationAlex Jones Calls the FBI Walmart Hotline to Report Terrorists (Government Officials)Mexico Trying to Cut Back on US Dollar UsageLet's Talk Broke States and Welfare FraudStory of A Police Department Falling ApartPolice Layoffs Ripping Through the USASen Michael Bennet Forget to Close Mic, calls Senate Vote RiggedTake Money Out of Banks to Collapse their SystemReal IRA Threatens to Blow Up London Bankers and BanksFrench Taking Money out of the Banks on December 7, 2010Anti-Austerity Protest Demonstration Spread Throughout EuropeEU Gives Americans Rights to Access All EU Bank AccountsBritish Expats Returning To UKUK Cracks Down on Six Million Tax ExilesFrance Obtains Stolen Bank Data From SwitzerlandEvery 30 Seconds Thugs Attack Someone in UKBritish Police Raid 6,717 Safe Deposit BoxesItalian Police Raid 76 Branches of Swiss BanksNetherlands Closing Prisons due to a Lack of PrisonersUK Parliament Member Verbally Attacks UK Prime Minister Brown (Brutal)EU Civil Unrest Starting!UBS Swiss Bank Closing Accounts of AmericansTranslate this page into...
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Introduction to Offshore Telecommuting – Telecommuting is working from your home. The offshore version means you just live offshore and work from your home, which is in an offshore tax haven. The work is performed over the Internet, by phone generally VOIP and using postal mail and couriers.
Type of Work – It is up to you to figure out what to do, not us we are just a law firm in Panama. Many people with Internet businesses move to Panama and work here. They often house their websites here, use a Panama or Offshore Credit Card Processor if they take credit cards and they use VOIP phone or Skype to reduce the cost of telephone calls. Email of course really saves the day. It is possible to get a high-speed cable modem or a DSL line in most of Panama. 2 Meg connections are possible and offer more speed than one normally needs.
Other people work here as brokers, consultants, writers etc. If you start a brick and mortar business in Panama this is not telecommuting and would expose you to Panama income taxation since your income would be onshore derived.
Cost of Living – In many jurisdictions such as Panama the cost of living is much lower than say North America or Western Europe. So one big advantage is your money goes further and you can save money easier. Like a full time live in maid is maybe $250 a month now in Panama.
Office Space – Most just work out of their home. A nice beachfront house with high speed Internet and you are all set. Caution: Be warned that bringing ice skates and skis will generally result in them rusting. We actually do have an indoor (well in a tent anyway) ice skating rink at the Albrook Mall now.
Staff – Most generally work without any staff or they are a husband and wife team. One could have staff. Bear in mind in Panama you could have a maid and a driver. The maid will cook and clean and the driver will run errands. Together they can both do the shopping for you, go to the dry cleaner, gas the car, the maid does the wash and you are really free to just work during the day and you might be surprised how much time can be freed up this way. A driver runs about $350 a month and an administrative assistant that is bi-lingual $400 with some computer skills.
Legal Structure – One could form an anonymous Panama Bearer Share Corporation that is owned by a Panama Foundation. You could control both through a general power of attorney and be the signatory on the bank accounts. The corporation could receive payments from clients. You could have an employment agreement with the corporation to work for it signed by the nominee directors and notarized.
The corporation could provide you with a car, pay for business travel, give you a housing subsidy, pay for your medical including plastic surgery, pay for your legal expenses etc. The Panama laws on such things are quite liberal. Your corporation and/or foundation could have Panama bank accounts, which can be used to receive client payments. Panama operates on the USD but the banks also offer Euro accounts too.
Panama Taxes – Offshore derived income is tax free in Panama, not even a need to file a tax return. No capital gains tax on bank interest and stock market trading profits. Panama has a 5% sales tax. We do not have the high consumer goods taxes found in places like Nassau. Consumer goods here are priced competitively to the North American Market.
Residency – It is relatively easy to obtain a residency in Panama. Most of the residencies in panama will allow you to be self-employed. Internet businesses are sort of ignored to a good extent.
Weather – Panama is ideal for telecommuting. It is a full tropical climate. The Panama Canal was built here because Panama is free from harsh weather – no hurricanes, no tsunamis, no tornadoes and no volcanoes and no earthquakes. Up near Costa Rica there can be some volcano and slight earthquake activity so stay away from there. This means your business will operate uninterrupted by inclement weather. If you feel a need to shovel I have bad news for you – it is impossible to shovel the sunshine off your driveway.
Banking – Panama has good strong international banks with online banking including the ability to launch international wires. You can get a secured Visa card good online, in person and in ATM machines around the world.
Currency – Panama uses the US Dollar as its currency. This means no currency conversion issues and expenses. Which makes it cheaper to operate your business.
Stable Government – Panama is a free democracy. Panama has a seat on the UN Security Council. They have the Panama Canal which is needed by may nations and protected by a treaty with the USA which could be here in hours to intervene militarily. The treaty concerns the security and functioning of the canal. Panama is stable and safe.
Good Phones and Internet – Both are readily and freely available. Calls to the world are competitively priced. VOIP works in Panama. There is plenty of bandwidth available and competitive rates. Panama Cell Phones work fine and are priced at reasonably.
Medical – Excellent medical. Better and cheaper than what you have in North America anyway.
Autos – Mostly Japanese, Korean and German. Cars a bit cheaper than North America and cheaper than Europe. Gas about same as North America.
Supermarkets – Anything you want is here. Fruits, vegetables, breads, domestic fish and meat significantly cheaper than North America. T-Bone steak for $2.35 a pound plus no steroids, antibiotics and other garbage. Free range animals.
Airport – Well you have to travel at some point. We are a major hub with all sorts of direct or connecting flights all over the world. If we don’t have a good flight fly one hour to Bogota and from there the possibilities are even greater. Need more options take a quick flight to Caracas and using their transit lounge so you do not have to deal with customs and immigration, you can connect to many flights all over the world.
Crime – Chances are we are a safer country than from where you are now. Quite safe in Panama.
Restaurants – Abundant supply of excellent restaurants. Any type of food there is and at reasonable prices.
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*Offshore Legal Associates Law Firm.We have no legal ties or associations with any other law firm or corporation with similar or like sounding names anywhere and should not be so confused with any other entity having a similar or like sounding name.
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