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Companies registration in Panama

The Republic of Panama is a country located between North and South America. It is bordered by Costa Rica to the west, Colombia to the southeast, the Caribbean to the north and the Pacific Ocean to the south. Its area is 75,517 square kilometers; the capital of Panama is Panama City; political system is democratic republic; official language is Spanish (English is also used).

Panama is one of the most popular jurisdictions in the world. The reason is not only for the exceptional financial and tax benefits, but also, as a democratic republic, the government offers a special combination of monetary and political stability. Panama was the first country to introduce a modern legislation that authorizes the formation of offshore companies for tax planning purposes.

Companies established in accordance with the Law №32 from 1927 (General Corporation Law) may conduct business in the foreign countries, attract cash loans, issue bonds and bills of exchange and other securities, to carry out any legal action aimed at achieving the objectives of the company, as long they comply with the statutory regulations.

The Panamanian company is not obliged to disclose confidential information to local or foreign authorities  if there is no violation of Panamanian law.

Requirements for the registration of companies:

  • the company name must end with the following:

SA (sociedad anonima - Joint Stock Company), Corporation, Corp. Incorporated, Inc.

  • subscribers may be two or more natural or legal persons;
  • no requirements to the size and terms of the payment of  authorized capital (except for the issue of bearer shares);

In practice, there is allotment of 500 shares, the authorized capital is 10,000 USA  dollars;

  • the law anticipates a minimum of three directors and three officers: president, treasurer and secretary;

Panama has strictly perform the territorial principle of taxation: income of any Panamanian companies from foreign sources is fully exempt from tax in Panama. An offshore company may conduct business with residents of Panama and invest in any kind of Panamanian property, but will be subject to taxation of income from local sources.

Panama offers some of the most beneficial conditions in the world for the ship registration.

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