Panama does not depend on tourism and financial services and although Panama does have a thriving tourism and financial services industry, we also provide many other services, like the Free Zones, a robust Banking Center and the Panama Canal, Maritime services in general (ports, communications), plus manufacturing and agricultural industries growing day by day and being more competitive as well.
Panama has a stable democracy, a growing and competitive economy that has consistently grown at a rate of 2 to 5% per year, in addition to:
- Absence of major natural disasters such as hurricanes, tsunamis, or earthquakes.
- Panama’s Sovereign Debt has been granted Investment Grade by Moody’s, S&P
and Fitch Ratings.
- Banking facilities for companies acting as holding companies or in any case doing
business from Panama and the possibility of opening accounts remotely, meaning, without having to travel to Panama.
- Panama provides more security for the Beneficial Owner or Shareholder, as any
amendment or modification to the articles has to be recorded publicly and authorized, if so expressed on the certificate of incorporation, by the shareholders, whereas in other jurisdictions (typically common law jurisdictions) these changes may be done privately and with no obligation to register, thus a shareholder could very well not be aware or have knowledge of an amendment.
Common uses of Panamanian Companies
- As a holding entity for shares, bonds, bank accounts, term deposits, investment projects, IP rights or any other financial or commercial title
- Owner of shares in other companies, be them Panamanian or foreign.
- Owner of immovable property, such as apartments, lots, houses or any other asset, be them movable or unmovable
- Manager or promoter of international commercial transactions
- International lease of aircraft, vehicles, machinery, vessels, and others
- The instrument to receive and deliver loans in cash or commissions for products and services
- Marketing and promotion of products and services
- Other financial or commercial activities.
For over eighty-five (85) years the Panamanian Corporation (“Sociedades Anónimas”) has been recognized, worldwide, as a corporate vehicle that can be successfully used in a variety of International Business, Asset Protection, Estate Planning Structures, among others.
- Quick registration in 24 to 48 hours
- The Panamanian Corporations can be registered notwithstanding the nationality of its directors or shareholders.
- The income produced by a Panamanian Corporation outside the territory of the Republic of Panama is exempt from paying Income Tax in Panama.
- The capital of the company does not have to be paid partially or fully at the moment of incorporation.
- There is no obligation to file annual reports, financial statements, or sworn income declarations, always that the company does not generate Panamanian source income.
- Legal entities of any country can be appointed as directors, officers, or shareholders.
- There is no obligation to undertake annual meetings of the Board of Directors or Shareholders.
- The directors and shareholders can meet in person, by Proxy, phone, or by any other electronic means.
- The shares can be issued in a nominative or bearer form. In any case, the name of the shareholder is not required to be registered at the Public Registry, thus privacy is preserved. Bearer shares do need to be kept with an authorized custodian in Panama.
- A Panamanian company may issue shares with no par value.
- May issue different classes of shares and series.
- A Panamanian company may purchase its shares.
- Foreign currency incorporations are permitted.
- Incorporations in foreign languages are always permitted if a translation to Spanish is also filed.
- The corporate books can be kept in any part of the world and can be managed by electronic files or programs.
- Shelf companies are available.
- A Panamanian Corporation can do transactions and own assets in any part of the world, without having the obligation to maintain assets in the Republic of Panama.
- The Panamanian Corporation can undertake any type of legal business activity in any part of the world.
- The use of the Apostille is permitted.
The current international view of Panama by International Organizations.
|International Organization||White List||Grey List||Black List|
Company registration US$1,000.00
- Certificate of Incorporation issued by the local registrar.
- Articles of Incorporation.
- Registered address and Agent.
- Share certificate(s).
- Resolution naming the director and issuing the shares of the company
- Annual license fee
- Registered address and Agent.
- Verification the company complies with local legislation.
|OPTIONAL SERVICES||FEES IN USD|
Apostille per document or set
|Notarization of documents (per doc)||US$50.00|
|General powers of attorney (if we provide nominee)||US$150.00|
|Nominee director (yearly per nominee)||US$150.00|
|Nominee shareholder (yearly per nominee)||US$500.00|
|Certificate of Incumbency||US$150.00|
|Certificate of Good Standing||US$150.00|
|Redomiciliation *||US$1,000.00 (estimated)|
|Transfers out (exit fee)||US$400.00|
|Resolutions post incorporation||US$150.00|
* Redomiciliations cost like a new company + the cost of translating the documents to Spanish (usually US$20.00 per page).