There are no double taxation agreements and no tax exchange agreements with other countries. The incorporation documents are in Spanish but are accompanied by certified English translations. It could be a problem if you sign many contracts worldwide, as attorneys may wish to have an independent translation of important clauses. The Panama Corporation Law is based on the Delaware Business Corporation Law of 1926. Unlike the laws of many offshore jurisdictions, there is no difference between domestic and offshore companies in Panama.
All corporations pay taxes only on income derived from Panama.
These three directors may also act as officers of the company i.e. President, Secretary and Treasurer, or other positions as desired. Directors and officers need not be shareholders and they may be non-resident aliens. Directors may be companies or natural persons. Nominee Directors are provided by Maritime International Ltd. if desired, at no additional cost. The capital may be expressed in any convertible currency.