1989 - 2018 29 years in business Wednesday, 24th October 2018

PANAMA



 
Features of  Panama Corporations

BUSINESS TRANSACTIONS

  • Panama corporations may engage in any lawful business in any country and may carry on transactions  in whatever currencies they choose.

TAXATION

  • Full Exemption from taxation for any business activity or transactions carried out outside Panama.

AUTHORISED CAPITAL / SHARES

  • Nominative/registered or bearer shares at owner’s option.
  • No paid-in capital is required.
  • No minimum or maximum capital requirements.

DIRECTORS, OFFICERS AND SHAREHOLDERS

  • Shareholders, directors and/ or officers can be either corporate entities or natural persons.
  • Initial or ongoing changes in directors and / or officers need to be filed with Panama Registry.
  • The directors may grant special or general powers of attorney.
  • Neither the directors nor the officers need to be shareholders.
  • Shareholders, directors and officers may be of any nationality and may be residents of any country.
  • Shareholders and directors may hold their meetings in any country and may attend such meetings by proxy or  by any electronic means (phone, fax, etc.)
  • The directors may establish the company’s business address in any place/country of their preference.

ANNUAL FILING

  • No requirement to file annual returns or financial statements, no requirement to hold annual general meetings of   Shareholders or directors.

INCORPORATION AND ADMINISTRATION

  • Excellent availability of company names for incorporation.
  • The words “Corporation”, “Incorporated”, “Société Anonyme” or  “Sociedad Anónima” or the abbreviations “Inc.” or “S.A.” may be used as a company’s name ending.
  • Incorporation documents may be drafted in any language and submitted together with their Spanish translation.
  • Speedy incorporation procedures and simple ongoing administration.
  • Incorporation procedure takes 3 to 4 days.
  • The Panama Registry is equipped with modern sophisticated computer equipment improving speed and efficiency in the processing of documents.
  • Shelf companies are available.
  • The directors may establish the company’s business address in the place/country of the preference.

RECORD KEEPING

  • The company’s accounting books, records and minutes may be kept in any place or country chosen by the   director

CORPORATE SEAL AND LEGALIZATION

  •  Corporate seal is optional.
  • The apostille is normally used to legalize documentation. Legalization via a consulate is also available for some  countries.

COSTS AND FEES

  • Reasonable formation and maintenance costs and fees.

CONTINUATION

  • Foreign companies can be speedily continued to Panama.

 

USES OF PANAMANIAN  CORPORATION

  • Holder of bank accounts, fixed deposits, investments plans and any other financial or commercial title.
  • Owner of the shares of other companies or legal entities.
  • Owner of apartments, houses, buildings, vessels and any other movable or immovable property or  goods.
  • Manager and promoter of international business transactions.
  • International leasing of vehicles, machinery, vessels and others.
  • Appropriate vehicle for borrowing or lending money, paying or receiving commissions, royalties or others.
  • Marketing and promotion of products and services.
  • Other commercial and financial activities.

 

HIGHLIGHTS OF THE REPUBLIC OF PANAMA

  • Excellent corporation law.
  • Flexible company law.
  • No taxes levied on offshore and banking transactions.
  • No exchange control regulations.
  • Political and economic stability.
  • Serviced by major world airlines.
  • Excellence hotel accommodations.
  • Excellent worldwide communication facilities.
  • Skilled personnel.
  • No capital gains, income or other kinds of taxes.
  • Conveniently located close to the largest Latin American markets.
  • One of the most important Financial centres of the region with many international banks.
  • Panama is one of the major gateways for trade investment and finance into Latin America.

SOCIAL AND ECONOMIC INDICATORS

Location:                                              Latin America, joining North & South America.
Area: 77,082 square kilometers
Population: 3,360,474 (July 2009 Est.)
Climate: Tropical
Official Language: Spanish (official), English
Government: Constitutional Democracy.
Living Standard: High
Banking: International banking centre. Major worldwide banks  operate from Panama.
Legal Tender: Balboa ( At par with the U.S Dollar which is the only paper currency in Panama)
Industry: Financial services, Panama Canal, Colon Free Zone and Tourism.

 

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