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Panama Corporation Scams

Panama Corporation Scams are possible when dealing with non-attorney corporate agents. All Panama corporations need to be formed by a licensed Panama Attorney.

False Panama Corporation – The way this works is you buy a Panama Corporation from a corporate agent somewhere who is not a lawyer. All Panama corporations must be formed by a Panama lawyer. What the scam artist does is sell you a set of corporate papers with false notary stamps, seals etc. The corporation can have whatever name you ask for. Generally these scammers are not going to get into opening bank accounts for you since they know the bank will check to see if the corporation is real and in the public registry, if it is current, if the directors match etc. The consumer anxious to save a dollar or two buys from the non-law firm corporate agent and really just gets a few pieces of paper, stock certificates, minutes, corporate resolution, etc. all with forged seals and false stamps. There is no such corporation on file with the Panama government. The public registry in Panama is in Spanish and that makes it hard for many to check up on the corporate filing especially if they do not understand Spanish. The $300 annual Panama tax has never been paid. No certificate of good standing can be obtained from the Panama government. No responsible bank would ever open up a bank account for this false stack of papers. I feel sorry for people who transfer assets into the name of these false corporations because if they ever have to show a verifiable certificate of good standing some day they may be unable to recover their assets and if the scammer ever did file the corporation for real he could take possession of their assets if he knew they were. Once again our advice is to only deal with a licensed Panama Attorney or Law Firm.

Panama Shelf Corporation- This is a little more sophisticated of a scam. What is done is the scammer actually buys a Panama Corporation from a real Panama attorney. Then the scammer copies all the corporate papers, stock certificates etc. He puts on false seals and stamps. Since this is a bearer share corporation with nominee directors the actual owners name is not on any of the papers that would under real circumstances be filed in the public registry of Panama or on the stock certificates being a bearer share corporation the certificates are blank when it comes to owners names. The scammer sells the copies of the corporation numerous times to different entities all of whom think they have a real Panama Corporation and in fact there is actually such a Panama Corporation even verifiable in the public registry but just one such corporation which may have been sold many times. The so called “shelf companies” are often sold this way since the buyer does not get to actually pick the name of the corporation. The lawyer who formed the corporation is the resident agent on the corporate papers and this is what you want to look for to make sure you are not being scammed. Deal with the resident agent who is a Panama Attorney or Panama Law Firm on the corporate papers and you know everything is real. If you are a client we will explain in baby talk English how to check the Panama public registry on the internet to assure you that all is well with your formation, please clients only.

Panama Corporation Fraudster Profile – The scammer will be hard to locate and will probably never be located in Panama in that Panama will really go after such a thief. They prefer to be in countries other than the countries they sell phony corporations from. He will use an address in some Caribbean Island or Eastern Europe. His phones may be in a country different than his listed address. They usually never answer the phone but if you are a new caller they call you back right away. They have no license as an accountant, or a lawyer. They operate in many jurisdictions around the world. This is their way to credibility. They offer to form corporations, foundations and trusts in numerous different jurisdictions. They will have many unique ways of taking payment from you some of which you probably never heard of before. If you ask to make a sit down appointment with them you will encounter various excuses. If you want a Panama Corporation use a reputable Panama Law Firm.

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To protect your privacy, you can communicate with us by encrypted email. You can sign up for a FREE PGP enabled email account from Hushmail here: http://www.hushmail.com Hushmail is a FREE ,secure, encrypted offshore email service used by many bankers, stockbrokers and lawyers. Hushmail does NOT include your real IP address in the mail.

Skype is a free and easy to use piece of communication software that lets you talk to us by voice or type in a chat with us. The voice quality is excellent and it is free to use. Skype has encryption so the ISP has no idea what was said or typed. This is casual security only.

When using Skype be sure to:

1. Go to your system preferences and make sure the correct microphone and speakers are enabled.

2. Go to Skype preferences and make sure the correct microphone and speakers are enabled and the volume is up.

Please make the free Skype test call to see if it is working correctly.

Our Skype user name is: PanamaLaw.org

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You can use Gizmo, a free VOIP client with zFone for VOIP communication with encryption. Zfone is open source code software which means no back doors. Together you will have unbeatable military grade encryption. This is the best secure encrypted communications method out there.

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