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There are a myriad of offshore jurisdictions clamoring for investment by offering favorable tax laws and easy offshore corporation formations. Making the correct choice for your personal situation can be a daunting task considering the wealth of information available on incorporating offshore available on the internet today. Every jurisdiction has it’s fans who publish information about how perfect their offshore jurisdiction is for investor’s and businessmen but they aren’t all telling the truth. Not all offshore jurisdictions were created equal. Corporations in Panama are allowed to do business with both onshore and offshore companies and individuals. Legitimate numbered bank accounts may be an outdated practice in Panama, but they offer an even better solution. Panama has bearer share companies which are standard Panama companies, but the shares of the company are issued in bearer form. This means that the person who is physically holding the shares is the actual owner of the company. The great part about that is that it is not outwardly visible that a company is a bearer share company, which is great for people looking for an increased amount of privacy. A bearer share company usually has a bank account that has a visa debit card and the card can be issued in the name of the company rather than the individual owner. Setting up your company this way enables you to have all the benefits of a traditional bank account. Many people find this practice to be even better than a traditional account because it makes it more difficult for people to notice that the money being deposited and withdrawn from the account is being done so anonymously. All the transactions appear to have been done in the companies name. Panama is also favored by many because its has stable weather patterns. There is no risk of a hurricane or earthquake delaying your financial needs and or putting your financial information at risk. Many other popular offshore jurisdictions have weather issues that can delay you transactions and leave your information up in the air. Many offshore professionals prefer Panama over other offshore jurisdictions for other reasons as well. Panama has some of the best banking secrecy laws in the world, which is an essential element to look for in a company where you are starting an offshore corporation. Many other offshore havens lack consistency of enforcing their laws of banking secrecy evenly between the locals and foreign business people. It is also worth noting that the strict bank secrecy laws of Panama are enforced equally for both citizens and foreigners alike. No one is above the law and violators are punished with fines and potentially jail time. Panama’s government and banks realize that presenting a united front and consistently enforced set of rules helps the country to attract more investment and keeps the money they have already accrued safely in their bank vaults. People who use Panama as their offshore jurisdiction need not worry about having to move funds or set up shop elsewhere, the laws were there long before all of this began to take place and the country and people like them that way. Overall, the process of setting up a corporation offshore is generally for asset protection purposes and it is for that reason that Panama is the best jurisdiction to work with. The unparalleled security measures that the country has in place and the level of intensity they have for up holding those measures really is unmatched by any other jurisdiction.