Advantages
Flexible legislation. This established jurisdiction is ever popular.
Long standing reputation for corporate services.
Very cost effective with low annual fees. Transactions carried on by
these companies outside Panama are from all Panama taxes.
Disadvantages
Not recommended for high profile trading operations
Company Status
Corporation
Corporate legislation source
Law No. 32 of 1927 on Corporations
Company name
Certain words are prohibited, e.g. Assurance, Bank, Building
Society, Insurance, etc. Names must end with an appropriate suffix
such as ‘Incorporated’, ‘Societe Anonyme’. The ending Limited is
not applicable in this jurisdiction
Time taken to incorporate
2-3 days
Are shelf companies available?
Yes
Usual minimum capital
US$10,000.00
Capital Duty
US$60 / Sliding scale above $10,000
Minimum number of shareholders
One
Are bearer shares/shares of no par value possible?
Yes/Yes
Directors: minimum number/corporate: directors allowed/location
Three/Yes/No restriction
Secretary: mandatory/corporate Resident: secretary allowed/location
Yes/Yes/No restriction
Is there a requirement for a Registered Office/Registered Agent?
No/Yes
Is any information required by the authorities prior to incorporation or prior to tax status being granted?
None
What information is available on the public file?
Articles of Incorporation & public file? Reg. Agent, Directors, Officers.
What documents must be kept at the Registered Office?
None
Corporate books & seal
N/A
Are accounts required/filed?
No/No
Is an annual return required?
No
Where are meetings to be held?
No restrictions
Annual fees payable to the government: Tax/Annual Return Filing Fee
US$300/Not applicable
Are there any exchange controls?
No
