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International Corporation – Features and Requirements of a Panama Corporation

Panama corporations are a means for interested people from around the world to conduct international trade, to settle foundations or trusts, to hold assets and to establish and own bank accounts and brokerage accounts. They offer the benefits of confidentiality, affordability, convenience, tax minimization, asset protection and investment diversification.

For a Panama corporation established as an off-shore entity by non-residents, there are no requirements to report to the Panama government. Also, there are no taxes imposed by the Panama government on the corporation for business activities that are carried out outside the country.

Non-resident Panama Corporations do not require a commercial business license to operate business internationally.

Panama law ensures that all activities and accounts of the corporation remain strictly confidential.

It is not necessary to have a paid-in capital, nor time limit in which the authorized capital must be fully paid.

When registering a new Panama corporation, it is required to have a legal physical address that is included in the articles of incorporation.
Every Panama corporation requires 3 directors/officers (President, Secretary and Treasurer). The directors/officers can be either individuals or entities. Directors, officers and shareholders may be of any nationality and residents of any country. The names of directors and their identifications must be presented in the public registry when the corporation is formed.

It is not necessary for the interested parties to be present in Panama, for the purpose of organizing a Corporation. A facility exists to form corporations through nominee incorporators (directors) in Panama who execute the basic instrument for the incorporation called Articles of Incorporation. The nominee directors have no control over the corporation or funds and only serve to fill in the blanks on the corporations articles of incorporation at the Public Registry. The nominee directors can also be used to sign contracts, agreements, or sign for any other type of transaction that the owners wish to engage them in.
Neither the directors nor the officers need to be shareholders in the corporation.

Panama corporations are allowed to implement a system of anonymous ownership in the form of nominative or bearer shares, with or without par value. The shares of the corporation are not registered to the owner, but to "The Bearer". In other words, they are like cash and can be passed from one person to the next without having to re-register them or report it to anyone.
Annual general meetings of the shareholders or directors are not mandated. Meetings of directors and shareholders may be held in the Republic of Panama, or in any country by proxy – via telephone, email or other electronic means. Any resolutions passed in the meetings are valid regardless of whether they are signed on different dates or in different jurisdictions.

The accounting books of the corporation may be kept within Panama or abroad. However, every corporation is required to maintain a minute book and a stock register, which can be kept anywhere in the world.

Non-resident Panama corporations are required to pay an annual corporate franchise tax of US$150 to remain in good standing.

Corporations from other jurisdictions may be "re-domiciled" to Panama, and vice-versa

For information or our fees for forming a Panama Corporation, please lcik the link below, or contact us for more information.