Panama is located between North and South America. This region is economically and politically stable. Many international companies are situated in Panama City. Panama is mostly service-oriented country. Panama Canal and Colon Archipelago are great contributors to Panama’s success.
Country’s jurisdiction advantages
- Panama was the first country, which implemented a modern offshore companies creation legislation.
- Panama is a classical tax free jurisdiction.
- No regular finance reports submission, no audits.
- Full confidentiality of commercial information. This information will not be disclosed until the company sticks to Panama's laws.
- No forex control. Financial operations can be performed in any currency.
Country’s jurisdiction disadvantages
- All papers should be in Spanish
- To open a company, you should have a local office and a local agent, who should be a resident of Panama.
Types of companies available
Companies, registered according to General Corporation Law as Corporation (Сorp.), can have any activity worldwide outside Panama.
Who will benefit the most
Panama’s Corporation is suitable for companies, who are dealing with international trade. They can also be used to manage assets and investments (incl. their protection). Such company can register planes, yachts and other transport vehicles .
- “Corporation”, “Societe Anonyme”, “Incorporated”, “Gesellschaft mit beschankter Haftung”, “Sociedad Anonima” or shortened “Corp.”, “SA”, “Inc.”, “GmbH”, “AG” can be written in a name of a company.
- At least two people should be the among the founders of a company
- At least three people should be among directors of company
- Names and addresses of directors and agent should be stated.
There is a zero tax for revenue, interest, dividends, royalties set for Corporations in Panama. Companies will only have to pay an annual state fee.