THE MAIN CHARACTERISTICS OF PANAMA COMPANY

General

Type of entity IBC
Type of law Civil
Shelf company availability Yes
Our time to establish a new company 3-4 days
Minimum government fees (excluding taxation) USD 300
Corporate Taxation Nil
Double taxation treaty access Yes

Share Capital or Equivalent

Standard currency USD
Permitted currencies Any
Minimum paid up USD 1
Usual authorised USD 10,000

Directors

Minimum number Three
Local required No
Location of meetings Anywhere
Publicly accessible records No

Shareholders

Minimum number One
Publicly accessible records No
Location of meetings Anywhere

Company Secretary

Required Yes
Local or qualified No

Accounts

Requirement to prepare Yes
Audit requirements No
Requirement to file accounts No
Publicly accessible accounts No

Other

Requirement to file annual return No
Change in domicile permitted Yes

Presentation of jurisdiction

Located at the heart Central America, Panama enjoys is established first-rate jurisdiction and has developed a good reputation over the years. The legal bases of Panama are well developed and the professionals within Panama have commercialized and worked hard to maintain and improve the jurisdiction. This jurisdiction is considered as “low tax jurisdiction” because of its territoriality; Panama has caught the glance and attracted several multi-national companies, banks, re-invoicing operation, small manufacturing companies and other activities.

Panama raise as a well-known offshore jurisdiction comes from its geographical position and its stable and robust jurisdiction, rather than a conscious attempt to be one. It’s considered in the International Community as a country with a wide range of Investment Opportunities than go beyond tax optimization.

Who should choose Panama Company and what activities benefit the most?

Who?

  • Entrepreneurs;
  • Consultants;
  • Stockbrokers.

Which activities?

  • International trade;
  • Inheritance tax purposes;
  • Holding of intellectual property rights (IP);
  • Ownership of movable and immovable property;
  • E-Commerce.

INTEREST OF THE JURISDICTION OF PANAMA

Advantages of a company in Panama:

  • No corporate tax – 0%.
  • A very well established jurisdiction that has developed a good reputation as its experience has grown.
  • The legal infrastructure is well developed and the professionals within Panama have actively marketed the jurisdiction over an extended period.
  • Well-known flag of convenience for shipping purposes.
  • No Accounting.

Disadvantages of a company in Panama:

  • One of the few non-English language offshore centres.

How to proceed

To incorporate or purchase a company the following documentation should be provided:

  • A completed application form signed by the company or by the representative;
  • Copy of valid passport;
  • A personal bill, which is less than 3 months old from the date of the application;
  • Payment of our fees.

Note: additional documents may be required depending on the certain offshore bank.

Set-up time: From the moment, we are in possession of all required documents:

  • Incorporation of a company or purchase of an existing company: 3 days;
  • Delivery of the original company documents: 15 days;
  • Offshore Bank: offshore bank account opening: 3 weeks.