[PhoenixAtu]

I have been researching Offshore Asset Protection service providers for several months now. While there are a number of companies providing a variety of products and services, a few seem to "Have it all" at least according to their respective web sites/marketing efforts.

A couple of things about Panama Legal have raised red flags for me. They call themselves Panama Legal, yet they operate out of Guatemala. They say they are a Law Firm, however they can not be found on Martindale-Hubbell or any other law firm data base. Furthermore, unlike several of their competitors, they do not identify, with names, pictures or resumes who their lawyers are.

If you have done business with them, did they provide this information at some point in the process? I see no reason for being so "stealthy" and neither, apparently, do several of their competitors.

While I certainly appreciate privacy and confidentiality, I would prefer to be able to independently verify that they are what they claim to be (a law firm) and who their staff lawyers are, prior to seriously considering doing business with them.

Any feedback from prior clients would be much appreciated.

[Banker101]

I think that a better approach you can try is just tell on this forum what you're looking for. Take care.

[corimar]

They call themselves Panama Legal, because they were working in Panama until the offshore environment changed in Panama. This summer they decided to move to Guatemala, because they think it is a better jurisdiction for offshore, but they kept their name for marketing reasons.

They will ask a hell of a lot of documents from you. But have a try, I beleive you can trust them.

[PhoenixAtu]

Originally Posted by corimar

They call themselves Panama Legal, because they were working in Panama until the offshore environment changed in Panama. This summer they decided to move to Guatemala, because they think it is a better jurisdiction for offshore, but they kept their name for marketing reasons.

They will ask a hell of a lot of documents from you. But have a try, I beleive you can trust them.

There doesn't seem to be any shortage of companies and law firms, for that matter, in Panama, today, recent "changes" to the political/financial environment not withstanding, that are still operating in the Asset Protection realm. All of whom are more than willing to provide the information necessary to verify that they are legit.

I have perused Panama Legal's (Guatemala Legal?) web site extensively and can find no way to confirm that they are who and what they say they are.

The only documents they say they need to do business with you is a copy of your Passport and Drivers License. I would be VERY reluctant to provide them with that kind of information, without first being able to independently determine who I would be dealing with. Would you?

For all anyone knows or can readily find out, they could be working with or for some law enforcement/tax agency as a sting operation!

You say that you "believe" that they can be trusted. On what do you base that comment? Have you or anyone you know actually done business with them? If so, I and I might venture to say others on this Forum, would like to hear from you or anyone else who has had any personal experience in dealing with them.

I might add that their information on this very forum lists them as being a law firm located in Panama.

"In today's world, only the paranoid survive"

[corimar]

It's up to you, who and how do you choose your incorporator or trust company, but for me it's no doubt, that they they are much more paranoid, than you

Originally Posted by PhoenixAtu

There doesn't seem to be any shortage of companies and law firms, for that matter, in Panama, today, recent "changes" to the political/financial environment not withstanding, that are still operating in the Asset Protection realm. All of whom are more than willing to provide the information necessary to verify that they are legit.

I have perused Panama Legal's (Guatemala Legal?) web site extensively and can find no way to confirm that they are who and what they say they are.

The only documents they say they need to do business with you is a copy of your Passport and Drivers License. I would be VERY reluctant to provide them with that kind of information, without first being able to independently determine who I would be dealing with. Would you?

For all anyone knows or can readily find out, they could be working with or for some law enforcement/tax agency as a sting operation!

You say that you "believe" that they can be trusted. On what do you base that comment? Have you or anyone you know actually done business with them? If so, I and I might venture to say others on this Forum, would like to hear from you or anyone else who has had any personal experience in dealing with them.

I might add that their information on this very forum lists them as being a law firm located in Panama.

"In today's world, only the paranoid survive"

[PhoenixAtu]

Originally Posted by corimar

It's up to you, who and how do you choose your incorporator or trust company, but for me it's no doubt, that they they are much more paranoid, than you

Corimar,

Frankly, I don't know what Panama Legal would have to be "paranoid" about! If they are a legitimate Law Firm, with real Lawyers, licensed to do business in Guatemala, why don't they just prove it. I'm starting to think something kind of smells here!

The premier Law Firm verifier, Martindale-Hubbell, has never heard of them. Why don't they post their credentials on-line as their competitors do?

Why do you suppose they are apparently reluctant to proudly market themselves as a Guatemalan Law Firm? Their own web site now states that they have no affiliation with Panama and are specifically, "not doing any business there".

If you can't or won't answer any of my legitimate questions, why don't you just save the bandwidth and don't bother.

[PhoenixAtu]

Originally Posted by Banker101

I think that a better approach you can try is just tell on this forum what you're looking for. Take care.

I have already done that. My initial post on this forum detailed what I am trying to accomplish. Basically, an effective Offshore Asset Protection Program. Complete with all the bells and whistles that are offered by a number of companies purporting to provide, among other things; International Trust Agreements, Offshore Corporations and associated Bank Accounts, complete with online access and Credit/Debit Cards to access funds with. All anonymously!

All this is supposedly possible, at least according to the web sites where these are offered. Great!

I particularly like the Law Firm approach that Panama Legal (and others) bring into the equation. Lawyer client privilege being paramount to maintaining anonymity and privacy. However, the anonymity I am seeking is for me, not them!

The way I understand how these trusts work, an International Trust Agreement requires that you turn control of your assets over to the Trustee, in this case the Law Firm. To be able to do so you have to TRUST them. Without being able to "Trust but verify" who and what you are dealing with, how can you provide someone with the amount and type of information necessary to give them, to set the Trust up. We are talking about sensitive personal and financial information about yourself and your assets.

OK. Again, what I am looking for is firsthand knowledge that anyone on this forum might have regarding any business dealings they have had with Panama Legal.

I am trying to determine "independently" whether or not they are TRUSTWORTHY. It really should not be that hard. They have been in business since 2006, at least that's how long their web site has been up and by all rights based on their extensive product line, surly there are plenty of satisfied clients out there, who can give me some feedback!

Anybody, anybody, Bueller, anybody?

[BossOfHyips]

Originally Posted by PhoenixAtu

I have been researching Offshore Asset Protection service providers for several months now. While there are a number of companies providing a variety of products and services, a few seem to "Have it all" at least according to their respective web sites/marketing efforts.

A couple of things about Panama Legal have raised red flags for me. They call themselves Panama Legal, yet they operate out of Guatemala. They say they are a Law Firm, however they can not be found on Martindale-Hubbell or any other law firm data base. Furthermore, unlike several of their competitors, they do not identify, with names, pictures or resumes who their lawyers are.

If you have done business with them, did they provide this information at some point in the process? I see no reason for being so "stealthy" and neither, apparently, do several of their competitors.

While I certainly appreciate privacy and confidentiality, I would prefer to be able to independently verify that they are what they claim to be (a law firm) and who their staff lawyers are, prior to seriously considering doing business with them.

Any feedback from prior clients would be much appreciated.

Hmm. I am not interested in finding information about the company you have asked for.

I am just providing you the directory of 100% legitimate companies (since I am giving the directory from the regulatory body's website) in Fiduciary and asset protection in Mauritius and Seychelles. A big percentage of them offer their services in Panama and other jurisdictions as well.

http://www.gov.mu/portal/sites/ncb/fsc/index.html

http://www.siba.net/index.php?s=links-icsp



By the way, don't hesitate to negotiate. Last time I require some fiduciary services in Mauritius and most of them quoted for $8,000 to $13,000 however I settled with a good vendor for $6200.

Better send email to the companies with fully functional websites. All send the quotes to you and you make a list based on the quotes and company's experience.

[PhoenixAtu]

Originally Posted by BossOfHyips

Hmm. I am not interested in finding information about the company you have asked for.

I am just providing you the directory of 100% legitimate companies (since I am giving the directory from the regulatory body's website) in Fiduciary and asset protection in Mauritius and Seychelles. A big percentage of them offer their services in Panama and other jurisdictions as well.

http://www.gov.mu/portal/sites/ncb/fsc/index.html

http://www.siba.net/index.php?s=links-icsp



By the way, don't hesitate to negotiate. Last time I require some fiduciary services in Mauritius and most of them quoted for $8,000 to $13,000 however I settled with a good vendor for $6200.

Better send email to the companies with fully functional websites. All send the quotes to you and you make a list based on the quotes and company's experience.

---------------------------------------------------------------
Thanks for the information regarding Asset Protection companies in Mauritius and Seychelles. I will add them to my list of possible service providers. After taking a quick look at their lists, I see that they all provide contact names and direct phone numbers to be able to identify and contact the principals who operate the companies.

Just makes me wonder that much more why Panama Legal doesn't do the same. Not to mention, the documentation and certification information that the financial regulatory agencies in those countries can provide. That's the kind of independent verification I am looking for for Panama Legal.

[BossOfHyips]

@PhoenixAtu,

The list I gave to you had more than 150 companies collectively. At least 60 of them provide the type of asset protection services in Panama as well, you are looking for.

Rather than just finding more information about Panama Legal, why don't you contact the companies in that list?

It will help you in 2 ways - i) You are ensured that you will be contacting only legitimate companies. So you don't need to additionally verify the legitimacy of the companies.
ii) You have much more choices and compare the price, so that you don't pay surplus.

I could only suggest, rest lies on you. Good luck