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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

INTEREST OF THE JURISDICTION

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.

Possible disadvantages of a company in Panama

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

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.

HOW TO
PROCEED

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

01

A completed application form signed by the company or by the representative

03

A personal bill, which is less than 3 months old from the date of the application

02

Copy of valid passport

04

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:

3 days

Incorporation of
a company or purchase
of an existing company

15 days

Delivery of the original
company documents

3 weeks

Offshore Bank: offshore
bank account opening