With a territorial tax system, Panama is a significant offshore financial centre, where many offshore companies are registered for various types of business and asset protection purposes, privacy, investment diversification, tax minimization, affordability and convenience. Panama’s offshore banking sector is well regulated and provides a broad variety of services.
Incorporation takes up to 3-5 working days. Initially a name search will be conducted before the registration is submitted. We will let you know if your preferred name is not available and may offer some alternatives.
Classes of shares permitted are Registered or Bearer shares. There are no minimum capital requirements.
Standard authorized capital is US$ 10,000 divided into 100 registered shares of US$ 100 each. Such capital minimises the incorporation and annual cost of the Panama offshore venture.
A Panama offshore company can issue up to 100 registered shares and receive a minimum of US$100 for each issued share from its shareholders.
There is no obligatory time limit within which a Panama Corporation is required to issue all its shares for the total amount of authorized capital. One share can be issued to a single shareholder and remaining or any part of them can be issued any time in the future or not issued at all.
All issued shares must be paid up by shareholders.
A Panama offshore company requires three directors/officers: President, Secretary and Treasurer. These can be either individuals or entities. One shareholder is required. There is no restriction on the nationality of residence for either of the directors/officers or shareholders. The names of these company officials will appear on the public registry where the company is incorporated. For anonymity purposes, we offer nominee directors service.
Non-resident Panama Corporations do not need a commercial business license to run offshore businesses.
A company must maintain a registered office in Panama, at the address of the registered agent.
The Panama offshore company is not required to audit or file its accounts each year and public accessibility of accounts are not required as well. There is also no requirement for filing Annual Returns.
There is 0% tax on offshore income, capital gains, interest, sales, issuance of corporate shares and dividends to shareholders. Non-resident offshore Panama companies are only required to pay the flat annual corporate franchise tax of US$300.
The Panama offshore corporation will be charged a late penalty of US$50 per year that the tax is not paid. A second late penalty of US$300 per year for every extra “deadline” period missed subsequently will have to be submitted.
- Registered Address and Agent
- Company Secretarial Maintenance
- Government fees
- Certificate of Incorporation
- Memorandum & Articles of Association
- Appointment of First Directors
- Consent Actions of the Board of Directors
- Share Certificates
- Register of Directors and Members
- Services Office
- Nominee Director
- Nominee Shareholder
- Audit Exemption Certificate
- Bank Account opening
- Company Seal*
* Delivery of the physical seal will be extra.