set uping company in off shore (Panama, Costa Rica, Belize)

[ernest1a]

Let say I move to Panama where I set up a company and do work from there. It is off shore so I thought I don't need to pay taxes if I don't do business with Panama customers. I only need to pay taxes to my home country if I have any personal incoming from that company. Right?

I was asking that in some forums and I received follows answer which is making me confused:
"If you for example want to repatriate money out of a country where the income was not subject to taxation then mostly the 'receiving' country will not exempt that 'income' from taxation. Most tax structures revolve arount this 'subject to tax' issue. You should search for a location where sufficient tax is levied to qualify for the 'subject to tax in the source state' -criterium (i.e. for the purpose of tax treaties). Maybe you can find some more info on sites of pwc or ey."

Can anybody explain me that please.