Offshore Characteristics

Many Law Firms speak a lot of the word "Offshore" within the legal services, but many do not know how to explain why a country is adequate for this.

A suitable country to offer services with the terminology "Offshore” depends on its structure, where it has to have as minimum the following 9 characteristics:

No tax - no capital generates tax, no tax on income generated outside of Panama, no inherited taxes, etc.
Stability of local currency, without regulation restrictions - it should not have restrictions in the funds movement inside or outside the country.
Strict Privacy Laws - strict privacy laws that protect their banking and corporative book information from any person, including external governments shall exist.
Stable Government - the Government of the country must be stable and shall use the opposite legal system of your country of origin (if its country uses the Anglo-Saxon Law, you shall look for a country that uses the Roman Law). The country must be safe to visit.
Stable economy - the economy of the country must be stable.
Excellent Banking System - the Banking System of the country must be advanced in both areas of the banking infrastructure, audit of government and technology.
Excellent Communication System - the Communication System of the country shall be technologically advanced in comparison with the first world countries.
Compatibility of Language - the language of the country shall be convenient for your understanding.
Compatibility of Time zone and Near Location - The Time zone of the country shall be the one that allows you to contact your “Offshore” supplier or financial institution, during its normal working hours and to travel quickly to the country if you need to handle a business.
Favorable laws for Corporation Establishment - Flexible laws and regulations in Panama make it simple to incorporate and maintenance.

Now, taking into consideration such features, you may know have a clear idea to know which country is more adequate to offer these services.