Bullion Dealers Panama

Category: Panama Bullion Dealers

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Buying Bullion In Panama

panama flag - panama bullion sectionAlthough not typically known for it’s bullion industry, Panama’s thriving offshore banking and corporation formation industry recommends buying offshore bullion as a means to legitimately circumvent recent crackdowns on offshore tax avoidance.

Taken as part of an overall offshoring or internationalizing strategy, offshore bullion bought in or through Panama is exempt from FATCA (Foreign Account Tax Compliance Act) and FBAR (Report of Foreign Bank and Financial Account) reporting regulations, giving absolute privacy in holdings held as an individual and outwith a financial institution.

Panama Corporations and Trusts can also be used to a similar effect with the added bonus being that they can reduce corporate taxation.

Choice of bullion companies in Panama are limited, with the exception of internationally acclaimed BMG Bullion – however Panama Corporations and Trusts can hold bullion as assets in external jurisdictions such as the well known bullion trading hubs of Hong Kong, Singapore, Dubai and Switzerland – where the added complexity of the ownership structure can further aid in securing assets.
 

It should be noted that there is a thin line between tax avoidance and tax evasion. Offshore gold ownership is a legitimate means to help with privacy and tax reduction as part of a wider strategy, whereas forming very complex corporate networks is more likely to fall into the latter without expert guidance.
IMPORTANT: Bullion.Directory are not tax advisors and nothing on this website can or should be considered as tax advice. You must always seek advice from a registered tax professional before making any decisions regarding your personal tax affairs as all individual circumstances will vary and tax law is subject to near constant change.
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