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IS PANAMA A GIANT MOUSETRAP (FOR ITALIANS) ?
- Thread starter ciccino
- Start date
Where did you assume Berlusconi went there to avoid personal taxes? He just did a great agreement with the former president Martinelli to allow a simplified residence program for Italians, I guess he was the ONLY western pm really intended to simplify the life of his fellow taxpayers!I mean if Berlusconi is going there it must be a RAT trap.
Panama is a great country and I love it, but as any other “fiscal paradise” like Dubai it means nothing if you still keep your fiscal residence in a western country!
Who will ever know if you gain a tax residency in Panama in addition to your original tax residency, open a bank account and a business there? Provide the banks with addresses and tax IDs in the respective countries. As a local resident of Panama, under the CRS your information won't be shared with your original tax residency, if you don't tell either side of each other's existence. Your local tax authority will think you're a local tax resident, your Panama tax authority will think you're their tax resident.
Better safe than sorry, in the specific Italian case start a real business and register yourself in the AIRE (register of Italian residents in a foreign country) in the local Italian consulate, they will issue a document that you can use with Italian tax authorities (dunno how it works for other western nationalities).
Sure if you don't mind losing your Italian tax residency, officially fully moving to Panama is the best solution as it's 100% legal and there won't be any doubt in the future as to where you should be taxed.
If you really want to do business there, go for it. It works. Ive met many Italians starting from Uber drivers to ppl doing business there, you can also naturalize eventually.
If you use it for an international lifestyle with banking/investments offshore and plan to be absent from Panama from the most part of the year, it is problematic in 2021.
For all other fellas, you need a 200k investment now and existing cedula holders from FN get grandfathered in.
Are you sure?
1) CRS is for private person accounts, not for active company accounts i read.!!
2) Panama is with OECD but doesnt do much/nothing. thts why they are blacklisted. Thats what my panama lawyer says(biased maybe)
Curious what you think about 1)
Nothing is shared through the CRS within the same country. If you have a tax residency in Panama, have their tax id, and open a bank account there, nothing will be reported to anyone.
I live in booth Colombia and Netherlands.
I have multiple panama bank accounts.(bancolombia panama)
But about 1):
https://www.libertymundo.com/index....7_Companies_with_Operations_are_Not_Disclosed
7. Companies with Operations are Not Disclosed
If your company has an operating business then it is not reported. CRS is only for financial investments. If the Company is operating a real business nothing can be disclosed. It is fairly easy to convince the bank that you have an operating business.
So in theory you can do this:
Send client correct invoice with Panama company info on it. Payment details you do this:
Let them pay to a ?Paysera? bank account owned by shell company in puerto Rico LT or whatever(not blacklisted) with equal company name.
After receiving the money in Paysera,forward the money to panama bank account.(Latin America has no block on panama)
Paysera will not report CRS, because its companie with operations right?
So in theory you can do this:
Send client correct invoice with Panama company info on it. Payment details you do this:
Let them pay to a ?Paysera? bank account owned by shell company in puerto Rico LT or whatever(not blacklisted) with equal company name.
After receiving the money in Paysera,forward the money to panama bank account.(Latin America has no block on panama)
Paysera will not report CRS, because its companie with operations right?
I have multiple panama bank accounts.(bancolombia panama)
But about 1):
https://www.libertymundo.com/index....7_Companies_with_Operations_are_Not_Disclosed
7. Companies with Operations are Not Disclosed
If your company has an operating business then it is not reported. CRS is only for financial investments. If the Company is operating a real business nothing can be disclosed. It is fairly easy to convince the bank that you have an operating business.
So in theory you can do this:
Send client correct invoice with Panama company info on it. Payment details you do this:
Let them pay to a ?Paysera? bank account owned by shell company in puerto Rico LT or whatever(not blacklisted) with equal company name.
After receiving the money in Paysera,forward the money to panama bank account.(Latin America has no block on panama)
Paysera will not report CRS, because its companie with operations right?
So in theory you can do this:
Send client correct invoice with Panama company info on it. Payment details you do this:
Let them pay to a ?Paysera? bank account owned by shell company in puerto Rico LT or whatever(not blacklisted) with equal company name.
After receiving the money in Paysera,forward the money to panama bank account.(Latin America has no block on panama)
Paysera will not report CRS, because its companie with operations right?
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Probably he is more interested in hot chicks from thereI mean if Berlusconi is going there it must be a RAT trap.
I can tell that you have never been to Panama. Almost all the hot chicks in Panama are Colombian hookers.
You will literally see more hot chicks in your short time passing through Tocumen International Airport than you will during your entire stay in Panama.
Panama is full of colombian and venezuelan girls that's why I said that tho
Girls from Venezuela are even sexier than Colombian ones
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