COMPANY SET UP REQUIREMENTS

Our corporate attorneys are expert to set up a company in Panama for you and they ensure that your company is in compliance with the Panama corporate laws. 

LIST OF PANAMA COMPANY REQUIREMENTS:

• Name of the company ( we do search for unique name )
• Three people is needed to form a company such as; president, secretary and treasurer
• Address of the company in Panama
• Capitalization of the Company ( minimum capital amount is $10,000. )
• How many shares are being issued?
• Who owns the shares of the company?
• Name of the registered agent ( Panama attorney )
• Name of the accountant ( CPA )
• Types of activities of the company

The Board of Directors consist of president, secretary and treasurer. The corporate laws require that a company have a Panama attorney to act as its registered agent. In addition, each company needs to have a certified public accountant on its board. We would assist you to appoint a corporate attorney and a CPA to join your company. Share certificates will be issued to the shareholders and owners of the company when the company is established.

When a Panama company has been established, there is a need to apply to the Panama Tax Office ( DGI ) to obtain a unique company tax identification number ( RUC ). In addition, there is a need to apply and receive a BUSINESS LICENSE from municipality of Panama. (Aviso de Operacion ).

 Panama IBC Corporation Characteristic

GREAT NEWS FOR INVESTORS! Yes, our corporate lawyers can assist international investors to set up an IBC company in Panama. In fact, Panama is one of the best jurisdictions in the world for setting up a company. The Panama IBC (also known or referred to as a Panama Offshore Company) is a legal structure known for its unique benefits.  Panama IBC company is an internationally recognized and accepted corporate structure in the business and financial community.

Our corporate lawyers has over 15 years of experience establishing Panama companies for foreign investors. We also can assist you with legal, tax issues as well as accounting  and maintaining them. 

In addition, our team is available to assist you with opening a bank account to support your IBC company activities.

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TOP 10 ADVANTAGES OF PANAMA IBC COMPANY

• IDENTITIES OF SHAREHOLDERS ARE ANONYMOUS

The identities of shareholders of a Panama company are kept strictly confidential and are not registered at the Panama Public Registry. There is a beneficial owner registry of companies, however, it remains private and guarded by a superintendence in case they are required by a Panamanian authority.

• SHARE CERTIFICATES PRIVACY

Share certificates are issued in private documents, and the officers and directors of the corporation are not required to be shareholders.

• PRIVACY

Panama offers a globally recognized financial infrastructure that values and safeguards financial privacy.

• SHAREHOLDER MEETINGS

Shareholder and director meetings can be held in the Republic of Panama or they can be held in any other country.

• NO BUSINESS LICENSE REQUIRED

Corporations that engage in business outside of Panama are not required to obtain a commercial license or operation notice (this is called “Aviso de Operacion” in Panama).

• NO NATIONALITY RESTRICTIONS

The directors and shareholders of the company can be members of any nationality and residents of any country.

• NO NEED TO DEPOSIT CAPITAL

The registered capital for the corporation is simply a nominal figure that projects the estimated value of the entity and does not need to be paid or deposited.

• TAX ADVANTAGES

The territorial source principle is the basis of taxation in the Republic of Panama. This means that any income that is obtained from operations outside of the country of Panama is not taxable. The client must consult with a legal or tax specialist in his country of residence or nationality to comply with his local tax responsibilities.

• ACCOUNTING RECORDS/ANNUAL FRANCHISE TAX

The accounting books of the corporation may be managed within Panama, abroad or even by electronic means. Records associated with international corporation activities can be kept anywhere in the world; however, the Resident Agent must have copies of said records and be shared if required by a Panamanian authority. An annual government franchise tax is also required keep the corporation in good standing.

• PERSONAL PRESENCE IS NOT REQUIRED

Interested parties do not need to be present in Panama in order to form a corporation. This is achieved with the use of appointed incorporators in Panama who act on behalf of the interested parties by executing the Articles of Incorporation.