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Panama Law Firms: Protecting Your Assets Offshore

Apr 29, 2008
Attorney - client privilege is paramount to any well planned offshore investment and asset protection strategy. When transacting business offshore knowing that your conversations and emails are fully covered by privacy protection is your first line of defense if an entity were to ever attack you and your assets. Panama law firms in general can provide very good service but beware internet websites that claim to be Panama law firms. It is good practice to contact any law firm or get a referral before conducting any business with them. If they say they are a law firm and they are not then your conversations are not covered by attorney client privilege and could land you in some hot water.

Select Good Firms For Best Privacy

A proper lawyer will help you set up an offshore corporation in Panama ensuring that all legal procedures are followed and that your corporation is registered legally with the government of Panama. Attempting to use non law firms to save some money during the incorporation process is not advised. Non lawyers do not have a law license and Bar association membership to lose like lawyers do. You have to wonder, with nothing to lose, will they say just about anything to get your business? I think it's fairly easy to answer that question for yourself.

Incorporating An Offshore Company Using A Panama Law Firm

When you are incorporating your Panama corporation it is not necessary for you to travel to Panama ever if you enlist the services of a reputable Panama law firm. A law firm in Panama can also help for you to get bank accounts in Panama, stock trading accounts and real estate that are all registered in the new corporations name. When you do all of your business using your corporations name it helps keep your finances considerably more private in the process. Another benefit is attorney client privilege, since all communication between you and your attorney is privileged when you register your corporation using an attorney it makes it much safer, because your conversations and emails can not be subpoenaed.

Using the services of a lawyer who is in your local jurisdiction is not advisable, at least not by themselves. Only a Panama lawyer is intimate with Panama law and has all of the contacts and connections in Panama itself to set up your asset protection structures properly. You could have your local lawyer act as a filter to ensure that you are being represented in a good way by your Panama law firm but ultimately you should have the actual work done by a Panama law firm.

Who's That Knocking On The Door

If you are having legal issues, countries that don't respect their citizens privacy and have unfavorable financial laws are not going to be discouraged by attorney client privilege when coming after your assets. Using a law firm located only in the jurisdiction where you are setting up your corporation, foundation and bank account is really your safest option. This does not ensure that the law firm that helped you with your asset protection plan will be able to help you if you should end up in legal trouble, but it does ensure that your confidential information is untouchable and unable to be located by the court system in your home jurisdiction.

Panama Allows For Anonymity

Staying anonymous in Panama is still possible through the use of anonymous bearer share companies which your Panama attorney should have no problem setting up on your behalf. Bearer share corporations omit your name from any official registration documents while at the same time you retain total control over it.

A good law firm will make sure that the nominee directors they use to form your offshore company do not know who the real owner of the company is. A good law firm will also make sure to get the appropriate documents and resignation letters from these nominees so that it is impossible for them to gain control over your company once registered.

It's a Lawyers Job

The lawyers in Panama will help you properly navigate the legal an financial channels for setting up your offshore corporation and they will make certain that all of your bases are covered. They are skilled and knowledgeable about all of the ins and outs of Panama law and can make sure that you have all your needed paper work in place and can also make the process of getting incorporated much quicker, because of their relationships with the countries many financial institutions.
About the Author
To retain the services of a law firm in Panama or to have your offshore company formation questions answered visit the OffshoreLegal.org website.
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