 |
 |
 |
|
|
|
|
Panama Analysis as an Offshore Tax Haven – February 2010
Private Offshore Panama Bank AccountHow to Get a Non– Freezable Bank AccountPanama Virtual Office for Panama Bank DepositsPanama Real Estate Purchaser Legal RepresentationSecond Passport and Second Citizenship ProgramsWhy Invest In GuatemalaWhy Choose Guatemala?Breakdown of the Swiss Banks Losing ClientsSingapore Caves in to OECD Tax TreatiesGoing Off the US DollarSwiss Banks Release Information on 3000 Clients to FranceOECD 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 CardBad News Regarding Swift System released by the Swiss Banking AuthorityThe OECD and the Tax HavensAnonymous Visa Cards (New May 2009)Asset Protection – Gold, Silver, USD, Euro, Yen, Swiss FrancIs Obama a Muslim?The Farce of the G–20If Obama Really Cared What Would He Be Doing?Obama Not Qualified – New FindingsObama Muslim StampObama and CommunismWill Obama Go For A Wealth TaxObama Scary TruthsObama Kenya Birth Certificate ObtainedObama Hidden Tax IncreaseThe Obama Not Qualified CaseObama Birth Certificate FraudObama Playing Golf with UBS America President Robert WolfUS Federal Workers Pay and Benefits – Caution Will Raise Blood PressureAsset Protection in the USAWhat Will You Do if the FDIC Fails?How Many People Expatriate from the USAFBI Wants ISP’s to Keep Log Files of Web Sites VisitedUN Gun Control TreatyMontana Gun Law Fight ContinuesReasons Why the US Economy is Not Going to RecoverNancy Pelosi gets a 200 Seat JetMichelle Obama Staff – NauseatingSwiss Court Rules UBS Data Turnover IllegalSt. Louis Manufacturing Plant Shooting, 3 Dead, 5 WoundedObama – Patron Saint of the Investment BankerAirport Body ScannersLas Vegas Court ShootoutComing Soon Airline Body Cavity SearchesTaser – New Court Ruling in USAWill the USA Break Up in 2010?Over 275,000 Federal Workers Are Tax DeadbeatsFederal Employees Earning Over $150,000 per YearUSA Bankruptcy Filings up 100% from 2007Brussels Agreement Gives USA Access to All EU Bank Accounts17 Million Americans Have No Bank AccountLawsuit Charges Seychelles Government With Financial PiracyUS Debt Level Hopeless10 States Ready to Go Bankrupt – Bad Implications for USARevolution Threats in USA Getting Serious, Obama a Big FactorUSA Financial Task Force for Mortgage FraudUS Housing Prices Will Continue to Decline Further44,000 USA People Die Each Year Due To No Health InsuranceUSA Census Workers Taking GPS ReadingsColorado Information Analysis Center – Anti-Terrorism Film (Scary)IRS to Open Offices in Panama, China and AustraliaRetail Stores ClosingLeaving America35 Million on Food Stamps According to FDASwiss Bank UBS Sued by 500 Americans45% of US Doctors Consider Quitting If Congress Passes Health Care OverhaulSkype Purchased for $2 BillionThe Historical Value of the Dollar Before and after Federal ReserveAustria Passes Law to Share Tax InfoHomeland Security New Guidelines on Computer SearchesTaxpayers versus Tax Consumers & the FutureThe USA One Year from Now: September 2010FDIC Reserve Fund Shrinking Again, Emergency Fees ImposedSwiss Account Holders Face Numerous Problems Not Just TaxesSwiss Bank UBS Sells Out Clients to USAHalf of US Homes with Mortgages Will Have Negative Equity by 2011Why Civil Unrest and Revolutions are Two Very Different ThingsMontana Shooting Sports Association Rebuttal to ATF LettersRFID Chips in Tires & Roadside MonitorsFed Negates New Gun Rights Laws Passed by Tennessee and MontanaFrance 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 AmericansPrevent Bank Account Hacking - Dec. 2009Translate this page into...
Spanish
French
Italian
German
Portuguese
Dutch
Russian
Japanese
Korean
Chinese
Introduction – A lot of people in Panama title their real estate in the name of a corporation. This provides superior asset protection and excellent privacy. When such pieces of real estate are sold problems can arise because the real estate per se is not being sold it is the corporation that holds the real estate that is being sold.
Tax Issues – In Panama when a piece of real estate is sold the seller has an obligation to pay the government 10% of the gain or profit on the sale of the real estate.
Buyer Responsibility – Due to many transactions closing where the people did not report any sale to the government they have instituted a law whereby the buyer of the real estate is responsible to withhold 5% of the sell price of the property to cover the capital gains tax the seller is responsible for. For example if the buyer was paying $500,000 for a property that the seller paid $400,000 for then the buyer would need to be holding back and giving to the government 5% of the sell price or $25,000 when the actual tax bill for the seller is $10,000, thus a $15,000 over payment. The seller would be able to use this overpayment to offset their total tax bill but they may not owe any other taxes that year and would have to apply for a refund which could be a difficult and lengthy procedure.
Solution – The lawyer representing the buyer makes sure the seller pays the tax bill from the sale proceeds. Remember there is no conventional real estate escrow because you are not buying a piece of real estate just a corporation, and it is that corporation that has the real estate as an asset it owns. You hand over the funds and they hand over the shares of the corporation. Could the government come back at some point in time and say the buyer is responsible for more money because the seller frauded the amount they claimed they paid for the property? We have not seen anything like this but it could be possible but unlikely they would hold a buyer responsible for seller fraud. Things were easier before the new laws but transactions are still easy to work through.
Additional – If the property you are buying is titled to a corporation it does not mean that you cannot buy it and have it titled to you personally or titled to another corporation because this is possible.
 |
||||||
|
Call Us Free with Skype:
