Panama International Business Company (IBC) Company Formation

Panama is a popular offshore jurisdiction because of the large number of privacy and tax advantages from which offshore companies incorporated there benefit. Incorporating an IBC in Panama provides extensive confidentiality for the beneficial owners as company registers are not available for public inspection, and shareholders enjoy exemption from all local taxes and duties, including income tax, capital gains tax and corporation tax.

Company Name

A Panamanian IBC can have a name in any language provided that it is unique and that it ends with the following designations or their abbreviations: Corporation (Corp), Incorporated (Inc) or Sociedad Anónima (SA); the designation Limited (Ltd) may not be used. Formacompany can reserve your company name for up to 10 ten days.

Registered Agent

It is a requirement that a Panamanian IBC must have a registered agent and a registered address in Panama; this is where all official correspondence is sent. These are both provided as part of our incorporation service.

Directors

A Panamanian IBC requires three directors. Director details are not filed on the public register.

Shareholders

A Panamanian IBC requires a minimum of one shareholder. Shareholders’ names are not filed on the public register.

Share Capital

The standard authorised share capital is US $10,000 divided into 100 common voting shares of USD 100 each or 500 common voting shares of no par value; the capital may be expressed in any convertible currency. The minimum issued capital is either one share of no par value or one share of par value. Share Capital does not have to be paid into a bank account before the incorporation.

Filing Requirements

There is no need to file any company tax returns in Panama if all the income was derived from offshore transactions. There is no requirement to file financial statements if the income is from sources outside of Panama.

Timescale

The incorporation of a new company takes approximately one week from the date we receive proof of address and identification.

Panama Company Formation Fees

Panama Corporation Company Formation – 5 – 7 days

  • Reserving Company Name
  • Certificate of Incorporation
  • Articles of Incorporation
  • Share Certificates
  • Minutes of Board Resolution
  • Government Registration Fee (US$350)
  • Public Notary costs – (US$130)
  • 3 Resident Directors can be supplied
  • Nominee Company Secretary
  • Nominee Shareholder
  • Certified English translation of documents
  • Certificate of Incorporation with Apostille
  • All documents and certificates supplied in a professional folder
  • Delivery of documents by FedEx / DHL
£1000
Additional Services
Company Administration & Registered Office (required)£590
Compliance (3 directors required) service with apostilled documents£600
Company Secretary (if required)£300
Annual Renewal Fees
Company Administration

  • Provision of the Registered Office and Registered Agent in Panama
  • Compliance with local domicile requirements
  • Payment of Government Fees
  • Maintaining statutory records
  • Maintenance of Shareholder Register
  • Maintenance of Director Register
  • Statutory Due-Diligence
  • 12 months basic consultation
  • Ensuring that your company is kept in good standing through payment of the annual government fee and filing of annual documents
£590
Provision of Resident Director£400
Company Secretary£300
Annual Government Fee – US$300£250
Directors Register Maintenance£175

 

Your company will be incorporated using your chosen name and we will ensure that the procedure is as simple as possible.

The whole incorporation process can be completed online and we will administer the preparation and filing of all registration forms on your behalf.

Proof of Identity

As part of our due diligence we require proof of identity in the form of a passport copy for all directors and shareholders of the company.

Travel

A visit to Panama is not required to incorporate your company.

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