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Q & A
We meet the firms, tour their facilities, analyze their products, gather background information from independent resources, and when possible interview past / current customers. There are some who ask to be in our network which we happily accept after they’re qualified. There are others who just don’t make the cut.
Do your contacts pay OA to be a part of the network? No. We do not accept payment for being listed as a contact in our network; nor do we accept money to refer one contact over another. We only work with those who have demonstrated quality, integrity and follow thru worth recommending. We are in the business of getting people where they need to be while having the confidence they’re receiving quality service once they get there.
How many law firms do you deal with? We work with four law firms in Panama and two in the United States; but this does not limit us in the least. On rare occasions, there are cases which require unique consul that doesn’t fit the profile of our firms. In these situations, one of our firms will recommend the best for your circumstance to get you squared away, asap.
How does OA get paid when providing Legal Networking services? Similar to attorneys in the United States or Canada, OA is awarded compensation for referring clients to the firms we deal with. IMPORTANT NOTICE: Using our network service DOES NOT INCREASE the fees you pay the firms we recommend. Because of our relationships, fees for the services our firms provide (hourly rates, incorporation, etc.) are fixed. In fact, with staple products such as corporations, foundations, LLC’s, nominee services, etc., you will actually be saving money as opposed to contacting them directly.
Can I contact the firms you recommend directly? You can however, like many of the banking contacts we deal with, our law firms are not in the business of taking clients off the street.
Is it important to have a reputable firm in Panama for simple things like Corporations or Foundations? Absolutely. This question may seem obsolete to some, but there are many who need clarification of why it’s very important. A few reasons why: 1) Reputable firms have proven their value over the years, needless to say their staying power in Panamas legal community. 2) Most generic firms concentrate on turnover rather than follow up. Furthermore, they don’t have the quality support staff available if needed in the future. 3) You could be putting your company’s resident agency, nominee directors and /or shareholders at risk. 4) Not many have a local reputation to uphold like the ones we can provide. Are there any confidentiality concerns when using OA? Absolutely not. We serve only as the gatekeepers between you and the firms we recommend. Everything that transpires between you and your attorney is kept under the strictest of aspect of attorney / client privilege.
What if I have done my homework and just want a Corporation or Foundation? You’re in the right place. The corporate and foundation structures we can provide are created by one of our network firms who have 50 years in the field. Though negotiations, we offer fixed prices for these products designed to meet or beat prices you’ll find elsewhere. Needless to say, your resident agency and nominee directors will be in the hands of a firm with a stellar reputation to uphold.
How many banks do you deal with?
We deal with six: Five local Panamanian banks and one multinational which you’ve likely heard of. Depending on your need, each bank offers its own benefits.
Can I contact a bank by myself? Of course. If you're in Panama, walk into the lobby, talk with the front desk and they may be able to get you squared away. Don’t worry we’ll be here on standby!
Can I open an account without being in Panama? Absolutely. We can fully open an account without your presence here in Panama. However, not all banks will work with applicants in absentia, so you will be limited to those that do. If you plan on coming to Panama in the future, we can always prequalify you at any of the banks in our network. Before you arrive to Panama, simply send us the necessary documents. When you get here, we’ll pick you up, go to the bank and verify the account. 95% of the time the account is activated that same day.
How many stock brokerage firms do you deal with? We deal with three firms here in Panama all having their own level of exclusivity. Each firm uses an omnibus structure allowing accounts to be insured and trades to clear at major banks in other jurisdictions such as Europe, US, Canada and Asia.
Can anyone trade in Panama? Yes and no. There are many firms in Panama who will not accept US citizens. In fact, one of our firms has this stipulation. Our other firms require US citizens to have a Panamanian corporation or foundation to apply. Do you have any questions not listed here? If so, we're we're on call! Don't hesitate to contact us!
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What are OA’s criteria for a ‘recommended’ contact in the network?
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