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Starting your own Panamanian Corporation for Land Purchase |
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Many people who invest in Panamanian real estate choose to register the land or property under the name of a Panamanian corporation instead of directly under their own name. |
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| Author: Andrew Cowan |
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The reason for doing this in a nutshell is anonymity. This can range from anonymity for a retired couple to anonymity for a company taking part in illegal practices that they want to be kept sheltered from the United States government.
The reality is that the U.S. government can at any time request information about its own citizens who hold land in Panama. If you have it directly under your name, it is a one step process to find you. If you have it under a corporation, although that information is technically public as well, it takes more effort to find you. If a person likes, they could also find someone to sign for them within the corporation, so that their own name is well hidden from curious authorities. It also helps separate the property owner from liability, and loss of assets in a lawsuit.
Most real estate agents would recommend taking this measure before purchasing a property. It also makes it easier to transfer the property if you are planning to sell it, because you just have to transfer shares of the corporation to someone else’s name.
About Author
Andrew Cowan lives and works in Panama with a Panama Real Estate Company as well as Yahoo Panama.
Article Source:
http://www.1888articles.com/author-andrew-cowan-4387.html
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