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