The world is experiencing difficult times currently and people everywhere are being faced with all kinds of challenging events. Whether they be pandemics, civil unrest, political turmoil, socialist governments taking power, war, crashing stock markets, crashing cryptocurrency, loss of employment or failing business many are looking to move to a different country. There are many places offering calmer waters, from both an economic and political perspective, and many of these places offer better weather and lower cost of living. Panama is very much in the mix as a destination that people are looking at when searching for options to relocate their personal and/or their business affairs.
Doing business in Panama
So many have been attracted to the benefits on offer in Panama over the years, whether they be expats who have incorporated a company to support their application for residency, or act as a holding corporation for their international business activities or simply wanted an offshore structure to hold assets for succession planning. More recently, Panama has become an attractive destination for an increasing number of “digital nomads”. The common types of individuals looking for the advantages provided by offshore jurisdictions, such as Panama, are not just successful businessmen or multinational corporations but a diverse range of people with differing needs such as:
- Investors looking for different investment options
- People wishing to diversify their asset portfolios
- Entrepreneurs seeking globalization through multiple jurisdictions
- Companies looking to incorporate a subsidiary in another country
- Startups seeking to maximize profits with a tax efficient strategy
- Families looking for wealth management and estate planning
- People with an international lifestyle such as a dual citizen or “digital nomad”.
However, doing business in a foreign jurisdiction can be challenging and, without doing their proper due diligence, people setting up business affairs in Panama can fall foul of the local regulatory requirements, as they were unaware of their obligations. This can be for varying reasons such as language barriers, cultural differences or not receiving efficient or timely advice. It is essential that you choose guidance from professionals who are very familiar with the local culture.
How we can help you?
We consider ourselves Panama’s base for traditional British quality service from specialists who have been attending to the needs of professional firms, institutions and individuals since 1981.
Our international public and private sector experience in fiduciary and corporate administration is unrivalled in Panama.
Topaz Services provides consultancy services to both local and foreign clients, from varying backgrounds, on a wide array of subjects related to your business affairs in Panama.
Whether you are considering:
- Incorporating a Panamanian Company or a corporation in another offshore jurisdiction
- Setting up a Panamanian Private Interest Foundation
- Seeking accountants in Panama
- Seeking assistance with the new Law 254 for accounting records in Panama
- Panamanian tax advice
- Opening a bank account in Panama
- Obtaining guidance on your common-law trust
- Starting up your new operating business in Panama
- Buying or selling property in Panama
Topaz Services can provide you with a personalized and effective guidance, on a broad range of international business subjects, which is drawn from experience and practice spanning over 50 years in Africa, Europe, the United States, the Caribbean and Latin America.
Our excellent and dedicated team of professionals have the necessary technical skills and experience in advising you on a wide range of subjects related to the establishing of your business in Panama.
Our network
Since 1981, we have established excellent relationships with banks, custodians, brokers, lawyers and auditors in Panama and beyond. The collective experience and expertise of our team provides our clients with access to a wide array of unique and sophisticated estate and wealth planning tools and solutions. Our testimonials, as to our competence, can be viewed on this website.
Click here to view our testimonial
A Family Firm.
As a privately owned family firm, we fully understand the importance of privacy and confidentiality when it comes to family wealth management and business matters. We always retain our primary objectives; to act in the best interest of our clients and maintain the highest quality levels of service.
Setting up a Consultancy appointment
If you are considering Panama as a jurisdiction for your personal or business affairs but would like to seek some guidance from an experienced and professional source as part of your due diligence process you can book an appointment with us on the “Contact us” link above. Your appointment can be in person at our offices on Avenida Balboa in Panama City or through a call, by video or telephone.
Our consultancy fees are $200 per hour for a Senior Officer, or $300 per hour for an Executive Officer. The nature of your enquiry would determine which level of expertise would be delegated to provide you with a consultancy appointment.
In the event you choose to engage us to provide further services, such as incorporating a Panamanian company we would apply any consultancy fees paid as a credit towards the products and services selected.
Still a Doorway in the Woods
If you are considering Panama as part of your strategy for the future, but cannot see the wood for the trees when immersed in your search of the internet, Topaz Services can offer knowledge, efficiency and reliability with a proven track record of over 40 years in business. Importantly, we speak your language whether it be in English or Spanish and we still subscribe to Ralph Waldo Emerson´s observation: “if a man write a better book, preach a better sermon, or make a better mouse-trap than his neighbour, ´though he build his house in the woods, the world will make a beaten path to his door”. It certainly has proven to be so in our case. Our knowledge and experience, given through a consultancy appointment, and coupled with our local networking can open up all the right doors quickly and efficiently.