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Offshore Corporation Benefits Compared (Panama/Bahamas/Swiss)
Everybody knows that offshore jurisdictions are not created equally. In fact, once good jurisdictions like the Bahamas can change overnight. Once the Bahamas had strong bank secrecy. After pressure from the United States and other onshore players, they amended their banking laws making them almost completely useless for asset protection and anonymity.
Everybody knows that offshore jurisdictions are not created equally. In fact, once good jurisdictions like the Bahamas can change overnight. Once the Bahamas had strong bank secrecy. After pressure from the United States and other onshore players, they amended their banking laws making them almost completely useless for asset protection and anonymity.
Switzerland was once the star of the offshore banking world. After years of degradation and pressure from onshore countries. The once, high and mighty, offshore kingpin has fallen. The Swiss still claim to be an offshore privacy provider, for banking, but reality is that they turn their records over to the first government agency knocking at their door.
Panama has risen to the top of the offshore banking world, with large multi-billion dollar banks, backed with strong banking secrecy laws. The government of Panama is stable and has demonstrated time and again its commitment to the offshore banking and privacy world by upholding its privacy laws and enforcing strong anonymity banking laws. In fact, Panama, has been quick to hand out jail time to any person or entity challenging these laws.
What many people fail to realize is the power of the Panama anonymous bearer share corporation. This company has its share certificates issued in bearer share form. When a corporation with bearer shares opens a bank account, it is essentially bullet proof. The ownership of the corporation can only be established by physically locating the shares. The assets (and funds in the bank account) can be have ownership changed just by physically handing these shares to the new owner. Let the reader note that no record of this transfer is needed !
This author feels bearer share denominated corporations are better than numbered bank accounts because numbered accounts are obviously hiding something and draw attention in a wire system. Whereas, if you cable money to a bearer share corporation, the wire looks completely legitimate listing the corporate name as the beneficiary.