Setting Up a Shell Corporation in Panama: Easy as 1-2-3

[reaveroftheflesh]

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[appatula]

Can you give me that phone number?

[shyhockeyboy]

... have fun with the money you made. The lawyers will have the ability to grab any amount of money out of your companies bank account. So if your doing this you better just do it yourself. Just watch out.... lots of FBI agents do work at local banks and they look just like employees. Big corps don't use panama... they use other places that I won't tell you. panama is hot and too much of a risk.

[shyhockeyboy]

This is a very old way to do it... plus seems she made a stupid call to a lawyer in panama... there are even nice lawyer deals on ebay. Problem is that they scam your butt.... they will do all the incorporation and open you a bank account. Yet, without you knowing it... they will sign their name and yours to access the bank account. You send your money to the banks there and watch them take percentage amounts out of your bank account. So basically they charge you a huge fee. then have fun

[shyhockeyboy]

LMAO!!!... are you guys restarted... panama is hot right now. I know cuz I got friends that are billionairs and they use it. They said the CIA and FBI have operations there ever since they found that nascar retard... that stashed his winnings in panama... this is where panama been exposed... and now if you use panama as a tax heaven your will get arrested... there is operations there from the U.S to caught anyone that uses this.

[Postscript624]

Why would I sign up to stop this? Fuck it, I'm getting in on this shit. I say we get every US citizen with income, from the guy working the fryolator at McDonalds to the college student waiter at TGIF setting these things up. Then let's see if the government takes notice.

[shyhockeyboy]

@Postscript624 : are you guys stupid? the U.S congressmen and senators they know about this the whole time. They used these tatics to not pay taxes on what they earned. They also get big bribe checks from big corp to make these loopholes and they do it. Most rich people in this country uses these tactics. So only poor and middle class pays full taxes. I have a friend that his dad only pays half the taxes he actually owes to the IRS.

[Postscript624]

@shyhockeyboy I think you might have misread me. I don't mean "take notice" as in "learn of this tactic", but take notice as in "begins to close these kind of loopholes".

[shyhockeyboy]

@Postscript624 : ya, I understood but what I am saying the people in government they used these tatics. It's nothing new and even if they do close the loopholes they will open new ones for themselves. They are only doing it because too many people found out of such ways. They want to eliminate those people so they themselves can only do it and people they know and love can do it also. They want the rest of us to pay full taxes.

[shyhockeyboy]

@Postscript624 : I am in college going for accounting and finance major. Yet, I asked about these questions and professors do the OMG... that never can happen. IRS will know everything. They will know where your money goes anywhere in the world. They told me that these shell corps are lies. It never works and you end up getting caught. Yet, I know of many senators that uses these methods. Major corps uses them too. They all will keep doing it.

[shyhockeyboy]

@Postscript624 : the government already took notice. The will close these loopholes and make new ones for themselves. It's only because the public finally found out of such tactics and they want prevent them from using it. The new loopholes will take professionals and the public another 10 to 20 years to figure those out. So since the U.S has alot of Debt they notice lots of regular people are using these tactics and they want to stop them from doing it. So everyone but gov will pay fully

[RetSquid]

As soon as any of that money goes to her or is spent for her exclusive benefit it is taxable income for her.

[darwincity]

You can also do this in any other tax haven in the world. Try Monaco, I'm from over there!

[goforthegoldful]

Ofcouse this official speaks good english! All the schools are taught in english, and the allmighty Dollar rules the land!

[codelyokoblue]

how can I set up a "shell" company or a tax-exempt company?

[eighth]

stop corporate tax havens really....you must not make enough money.

[codelyokoblue]

what is the going tax rate in Panama and how can I get money in a Panama Bank without getting caught? also what is the going tax rate here in the U.S.?

[nthnyl]

That Panamanian "official" speaks pretty good english!

[Poacherman]

Anybody saying that tax havens are a good thing is basically stupid. Without tax havens, it would much much harder for all the bastard dictators in this world to hide their money, money which they have stolen from their citizens. Paying tax makes society a better place You can't get private companies to do this well because they have vested interests. Tax havens are intrinsically linked with serious crime, end of story.

[mspatel724]

It still boggles my mind how people think that a corporation is a bad thing. My family has many convince stores, they are in fact incorporated.. Am I bad person? Am I an evil company exec? No. Trade helps the world. Learn some basic economics. Less taxes we pay as a society, workers get paid more. SIMPLE.

[Salladsdressing]

Most research on Tax havens actually says that they help world economy by allocating more reasources to investments which creates jobs and oppertunities for millions of people which wouldn't be there had the government wasted the money.

Don't take my word for it....the Cato institute have done reasearch on tax havens but also have links to other organisations reasearch.

Check it out!

[lalulofi]

This video is for those that still believe that taxes are used to finance public services.

The IRS is a FOREIGN CORPORATION. It´s proceeds go to the foreign owners. The budget is financed by "lending" from the Federal Reserve, which is neither federal nor does it have reserves, but represents a PRIVATE banking cartel. Wise up! Inform yourself beyond lying news papers and mass media. Don´t be idiots.

[Thetabiz]

Jess is not showing how to setup a corporation in Panama, but she demonstrates her lack of knowledge on international business matters. She is "exposing" in the video how Americans can "hide" their income in the Panamanian Corporation, while not knowing that Panamanian Corporation law has been initially setup by Americans for Americans.

Why not ask the I.R.S. and call the I.R.S. and ask why is it that United States is the largest tax haven in the world?

[sakurahichiro]

A otra cosa, por decadas panama no solo ha sido usada como lugra de lavado por Us sino tambie n que han acaparado las propiedades de los verdaderos dueños, asi que mejor BACK ooff!, que queires hacer queda mal r a un pais al que invaideron,, por cierto, sacquearon y matar inocentes so pretexto de sacar a UN CRIMINAL con el cual tenias relaciones amistosas pero no podian controlar su poder.....mjoer vete a estudiar que te falta demasiado para tener el cerebro de un graduado

[sakurahichiro]

Que demonios te pasa no seas tan idiota . Si de veras pensaran que esta mal los dueños de las compañias no vendrian a panama como respuesta a sus interese, porque mejor no miran que algo anda mal con YOUR pais si ustedes viene aca TAKE ADVANTAGE de nuestras facilidades, pobre ignoranted e la vida porque no vienes caca y vives lo que vieven los pobres trabajadores que apenas tiene un ingreso!!!!!RESERACH MORE ASSHOLE BEFORE SPITTING SHIT!

[yurikomuro]

how guys i am trying to incorporate in Panama, or Cyprus, but i dont know which service is legit...i have calculated the cost and i think it will be like $5000 USD for cyprus....is this the ballpark figure ?

[Thetabiz]

@yurikomuro First of all one has to decide what is the business goal, and after that, based on the accomplishment requirements for that goal, one decides a company structure.

Call us: +507-832-2811

[nani17ronaldo08]

No podemos continuar con estas practicas desleales que afectan la economia de Panama. Usan las facilidades del pais, residen en el pais, hacen negocios en el pais, Deben pagar impuesto para el pais. No puedes manejar un carro en la carretera que yo pagué con mis impuesto, sinverguenzas.

[sercam1985]

Leave Panama alone

[MrMarnix]

5. Tax-havens in general minimize the tax burden on multinational companies, thus making them more competitive, creating more jobs and cheaper products from which everybody benefits. Ask any economist and he will say that tax is harmfull to the economy.

[MrMarnix]

3. There is a big difference between using a Panamanian company legally and using it illegally. Just because kitchen knifes are used to kill wifes does not mean we should ban them.

4. If someone tries to use a Panamanian company to hide money, where does the money come from? Right, the US, which has enough means at its disposal at home to stop this individual.

[MrMarnix]

The five main arguments in favor of Panama:

1. In the US you can set-up simular corporations, known as Delaware Corporations. In fact, the US is the biggest tax haven in the world.

2. Like so many countries, Panama does not tax foreign in come. It does tax local (Panamanian) income. Unlike the US, they don't treat their citizens as workhorses.

[PTTurboe]

Now you morons - try to get the money down there. What a naive video...

[lagartijorey]

Panama's tax regulations (as in many other jurisdictions, like some one else mentioned here) tax every single income made in Panama, regardless of your Citizenship, but does not charges income made abroad. It has been like that for over 100 years and now you want to call us Tax Haven. Shit, I make $ 30,000 a year and paid of $ 4000 in taxes last year.

[lagartijorey]

Have any of you ever heard about Delaware corporations? Did you know you can easily set up a Delaware corporation, even from abroad, sending similar docs to the ones mentioned here via email? In fact, did you know Panama Company's Act is actually a photocopy of your Delaware's Corporation Act? Man, you created the damn thing in the first place and now you're complaning about how your good ol' American Citizens take care of their tax obligations.

[anilao87]

@lagartijorey isn't Wyoming also a tax heaven? I mean they charge tax on income made within the state but not out of state. They do however require a min of 50 annually as a minimum tax. But you also have to factor in the registered agent fees for having a corporation in a state you dont live in.

[lagartijorey]

Then according to your authorities, Wyoming should be qualified as a Tax Haven, as well. But that's not the case, right?

Maintenance fees on a Panamanian corporation are at least $ 450 (including resident agent fees)

[53398]

We need to know it's being done, not HOW it's being done. How about posting information on how to build a bomb? That would be good, right? Yeah, right.

[53398]

This video will have the opposite effect of the one desired. I can just imagine all the people interested in setting up an offshore "corporation" in Panama now. Thanks for the info.

[Casadh]

Oh give me a break. Information is evil, right? Bring back the Dark Ages! We can change things if we stop ourselves from knowing how they work, right? Yeah, right.

[clockworkorange1986]

Absolutely lol hell........ if I ever decide on having a business this video is my inspiration.

[hardrainsafall]

Its just an outrage...

[BilsonM]

uhh who the hell wants to pay taxes on income? shit, sign me up for opening a corporation in panama.

[cacaman01]

If this is true, I'm all for it. GO PANAMA!

[kari239]

NO LEAS ESTO POR FAVOR

porfavor no lea esto

el 13 de octubre de 1991

un niño llamado nick se tiro de un puente devido a problemas familiares

si ya leiste esto deves copiar y pegar

en otros 5 videos mas o si no

nick vendra por toda tu familia

haslo o moriran porfavor hasme caso

yo lo lei y lo hise

[ORFTC]

I can't believe President Obama and the Dems would even consider moving forward with the Panama Free Trade Agreement -- especially after all their campaign promises to fix our broken trading system.

[ooDriveoo]

It was your Bush who started the negotiations smarty pants

[ORFTC]

No kidding. Bush negotiated this beast, couldn't get it through Congress, and now President Obama is talking about moving forward with it. What's he thinking?

[Tamryn69]

This is propaganda BS...  What they didn't tell ya is how much it costs to set up.

[2twokty]

you can set one up for under $500....

[Tamryn69]

Post the phone number!

[madamsponge]

Its only a corproation, there is no banking, therefore no money is able to go there. Show how easy it is to get a bank account.....you tard!!!

[asphyxiafeeling]

LOL. good video but i'm almost positive the call is fake. you've gotta be kidding me the guy would talk so freely about tax evasion.

[uberswampmonsta]

nice view spamming

[cypher955]

everyone set one up immediately !!!

[jwiska]

hmmm, i think i might just set up one

[davefs25]

Incredible how the guy talks freely "about getting out of the legal trail"

[SCX2k]

i think the girl is cute

[cypher955]

just watch the video you fucking bonehead...can't you think with your brain for 5 minutes instead of your penis...it's not like she's naked

[SCX2k]

i watched it understood it (and btw i am not even american so it doesnt concern me) and i dont deny the fact that i love women ;)

screw you and your hypocrisy

[CJQuinn]

Wow, original content and cute intern ^.^

[Allan500]

Why would you want to STOP tax havens? The poor smuck on the street can set up a corp and gain the benefits. The US, apart from being a police state, has an oppressive system of taxation.

[WhiteQueen420]

Great job exposing corporate malfesceance. Peace!

[myY0UTUBEchanneI]

the G20 are putting an end to tax havens.

[rdutari1]

Yes, and Panama isn't even on that list. The call is fake.

[2twokty]

i implore you to google "off-shore panama" and call yourself.

[UniversalMeme]

The story confuses two ideas; opening a business in panama and hiding your money in panama.

The amount of taxes paid on savings in banks is pretty small for the average joe, but probably pretty large for people who are trying to hide their money.

However, this video conflates tax evasion and foreign taxes on income. The U.S. is one of the few countries that still taxes foreign profits. What Panama does is a worldwide standard, not an outrage.

[playswithknives]

i need one of those shell corporations!

[calvinjones]

great video

[georgep922]

This video should make the blood of every American boil.

We need to ban the export of money without a windfall tax.

And then we need to impose 10 year mandatory minimum sentence for violators.

America, wake up, every dollar that your rich boss sends to panama, is a dollar more you have to pay in taxes.

[eriqkk]

Exactly, George, you said it!! Americans have got to wake up and come to the realization that big business--especially the GOP form of it--is creating a feudal system in our country.

[misctube]

Is creating?! It done been created foo! Man, people don't realize just how screwed all the little people of the US are because they've got their heads so far up their asses caring about stupid shit like Hanna Montana and Paris Hilton and Dancing with the Stars and all that stupid shit that doesn't matter and no one cares to care about what does matter. ~misctube

[UniversalMeme]

The point of the video is to make your blood boil. Try not to be so easily manipulated. There are two sides to every story. Read some "positive" analysis economics to get the story right.

America is one of the only countries that actually taxes income from foreign operations.

Most countries don't tax foreign income because it puts their company at a disadvantage compared to companies from other countries.

[Thetabiz]

@georgep922 You are funny. There is no better indication for the governments' economy and its managers than the "export" of the money to other countries. As that is the point where the government has to look into internal matters and what does it do wrong that wealthy Americans are expatriating and renouncing U.S. citizenship.

Every dollar that your rich boss sends to Panama is a dollar back in America, as whatever is outside, comes back inside, as long as Americans are in America.

[casineroWest]

I love the country of Panama - beautiful people, natural beauty. But when I last visited two union activists were shot and killed by the police while they were protesting at job sites. This tax haven business is the icing on the cake. We could serve the people and the country of Panama better by re-negotiating this "Free Trade" agreement to be an agreement that will help strengthen the rule of law in Panama, rather than strengthening the rule of no law.