Panama Corporation - Company Incorporation
Panama key points
- Time - only 5 - 7 days to incorporate your company
- Cost - a Panama company will cost £940
- Directors - only three directors of any nationality, are necessary for your Corporation
- Shareholders - only one shareholder of any nationality, is required
- Share Capital - the standard authorised share capital for your company is US$10,000 and may be expressed in any currency
- Share Capital - The capital of the corporation need not be paid at the time of the incorporation
- Support - using our 20 years experience we guide you throughout every step of the company formation process
- A company secretary must be appointed
Panama Corporation have been recognised across the world as offshore vehicles that can be successfully used in a variety of International Business, carry out commercial and industrial activities, business structure, business transactions, Asset Protection and Estate Planning Structures. Panama Corporations are incorporated under the Corporation Statute Law 32 of the 1927 Panama Commercial Code.
Documents and InformationTo incorporate an offshore company in Panama, all we require to start are the following details:
- The name of the company
- Name and address of the directors
- Name and address of the shareholders
Incorporating your Corporation
After you have submitted the name of your Corporation to us, approval of the company name can be obtained within several hours. We then present the Memorandum and Articles of Association of the company to the Registrar, a certificate of incorporation will be issued and your new company is incorporated.
All Panamanian corporations must end with the following designations or their abbreviations: Corporation (Corp), Incorporated (Inc) or Sociedad Anónima (SA); the designation Limited (Ltd) may not be used. The company name may not be identical to that of an existing company. This name may be expressed in any language. Formacompany can reserve your company name for up to 10 ten days.
Under Panama's Corporation Law it is possible to have a corporation owned by only one person. The Law requires a minimum of three officers (a president, a treasurer, and a secretary) and three directors. However, one person may hold two or more offices. It is not necessary that the directors or officers be Panamanian nominees or shareholders.
Both corporations and individuals may act as directors and the minimum number of directors is three. They may be of any nationality and need not be residents of Panama. Panamanian companies are also required to appoint a minimum of three officers - president, secretary and treasurer - who may also be the directors.
The minimum number of shareholders is one, and the may be of any nationality and may reside anywhere. The name of the shareholder is not required to be registered in the Panamanian Public Registry, providing you with complete confidentiality.
Procedure to Incorporate
Companies are incorporated by means of presenting the proposed corporation's signed Articles of Incorporation to a Notary Public, who will create a Public Deed for registration at the Public Registry.
Language of Legislation and Corporate Documents
Spanish and certified English translations.
Is a requirement, and must be maintained in Panama at the address of the Registered Agent.
A company secretary must be appointed, who may be an individual or a company. The company secretary may be of any nationality and need not be a resident of Panama
- No restrictions on nationality
- No requirements to disclose ownership
- No restrictions concerning ownership of shares
- No residence requirements for directors/officers
- No paid up capital requirements
- No income tax, if income is produced outside Panama
- Total tax exemption on all and any business activity or transaction carried on outside the jurisdiction
- No exchange controls
- No requirements to file annual financial statements
- No requirement to hold Annual General Meetings of shareholders or directors
- Total Secrecy and anonymity
- Reasonable annual registration tax and resident agent fees
- Articles of Incorporation may be done in any language