The Republic of Panama is located in the centre of the American Continent and lies between Costa Rica to the north and Colombia to the south. It has a growing banking and insurance sector. There are no restrictions on foreign investments or exchange control. Panama is one of the oldest offshore centres in the world and has a strong professional infrastructure as well as favourable commercial secrecy laws. As an established tax-friendly investment and offshore financial services centre, Panama also possesses the worlds principal yacht and ship registration.
The provision of Corporate Law of Panama has enabled it to make the Panama Corporation a preferred vehicle for foreign investors. The law imposes minimal reporting requirements, as well as simple and fast incorporation procedures. This corporate vehicle is very cost-effective because of the low government fees and it is not subject to exchange controls or currency controls. If Bearer Shares are issued they must be fully paid up.
Minimum of 3 directors required, of which 0 must be residents.
Corporate directors are permitted.
Director's meetings are not required
There is a public director's register
Other notes: No location restrictions for meetings. Only one Shareholder is required after Incorporation
Minimum of 1 secretaries required, who need not be residents.
Corporate secretaries are permitted.
There is not any requirement for secretaries to hold a professional qualification
Minimum of 2 shareholders required
Corporate shareholders are permitted.
There is not a public shares register
Bearer shares are permitted.
No par value shares are permitted.
Usually the Authorised share capital is 10000 shares of USD100 each.
Where some or all of the shareholders are nominees, the ultimate beneficial ownership of the shares does not have to be declared to the authorities.
A registered agent is required.
An annual return is required.
Incorporation Fee: Please see Our Fees Schedule Heading
(The package fee includes government fees, local secretary fees, local agency fees, registered office fees and our service fees, and have the following after incorporation: a) certificate of incorporation b) Original formation documents and minutes c) Five copies of M & A
Opening Offshore Bank Account: Refer to Fee Schedule
Incorporation Time: 1-2 Weeks