Privacy

We are constantly bombarded with representations from companies (and Nations) claiming to be the 'most private'.  We do not wish to down-play the importance of Privacy.  However, we usually find that paranoia about the need for privacy is based on a misconception that using an International Business Company (IBC) is inherently illegal*.  Notwithstanding the rules imposed on individuals by their home nation, it is important to understand some basic principles of limited companies (whether they be onshore or offshore) and how these principles can be used to create an efficient financial structure offshore (see Basic Principles).

Of the more established offshore jurisdictions, Panama is considered one of the most private and secure.  Legislation protects the private affairs of a Panamanian company and the banking industry is similarly protective of confidentiality. 

However, there is an active campaign by OECD member states to force 'Tax Havens' to increase accountability and openness in an attempt to identify criminal activities (including tax evasion).  The OECD nations are powerful and the threat of economic sanctions hangs heavy over many of these tax-free jurisdictions.  So it is important to understand that the privacy you have at outset may not exist in perpetuity.  Therefore, if privacy is so essential, it is important to closely monitor the political and legal developments in your IBC's jurisdiction. 

That said, it is very unlikely that any recognised tax haven will one day agree to voluntarily and systematically divulge the private information of a company (under its rule of law) to a third-party; without substantial and compelling evidence of wrong-doing.

For our part, if your need for privacy is to hide illegal activities then, not only would we question that right, we would ask you to seek assistance elsewhere.  If you have any reason to believe that your plans will contravene your nation's law, we strongly advise you take legal advice prior to implementation.

See Basic Principles

* This is not to be taken as confirmation that IBCs are legal in all countries at all times; and each individual should seek advice based on his/her nationality and the laws of his/her citizenship.