• Panama Corporation

  • GENERAL
    Legal Framework

    The Panama Corporation is governed by the Panama Corporation Statute Law 32 of the 1927 Commercial Code.

  • SHAREHOLDERS
    Liability of Shareholders

    The liability of the shareholders of a Panama Corporation is limited up to the unpaid amount of the shares they hold.

    Minimum Number of Shareholders

    The minimum number of shareholders of a Panama Corporation is 2 and the maximum is unlimited.

    Restriction on Nationality/Residency of Shareholders

    There is no restriction on the residence of the shareholders of a Panama Corporation.

    Corporate Shareholders

    The shareholders of a Panama Corporation can be individuals and/or legal persons.

    Nominee Shareholders

    The use of nominee shareholders is allowed.

  • DIRECTORS
    Minimum Number of Directors

    The minimum number of directors of a Panama Corporation is 3.

    A Panama Corporation needs to also appoint three officers, a President, a Secretary and a Treasurer.

    Restriction on Nationality/Residency of Directors

    There is no restriction on the nationality or residency of the directors of a Panama Corporation.

    Corporate Directors

    The directors of a Panama Corporation can be individuals and/or legal persons.

  • SHAREHOLDER MEETINGS
    Shareholder Meetings

    There is no requirement for a Panama Corporation to hold annual general meetings.

    Annual general meetings can take place anywhere in the world.

  • CAPITAL
    Minimum Capital Requirement

    The minimum capital requirement for a Panama Corporation is US$1.

    Currency of Capital

    The share capital can be denominated in any currency.

    Non-par Value and Bearer Shares

    Shares can be denominated in par and non-par value. However, non-par value shares must be fully paid when issued.

    Bearer shares are allowed but must be fully paid up when issued.

    Capital Duty

    There is no capital duty on the issuance of shares of a Panama Corporation.

  • REGISTERED OFFICE
    Registered Office

    A Panama Corporation is required to have a registered office, which should be located in Panama, at the address of its Registered Agent.

    Company Secretary / Registered Agent

    A Panama Corporation should have a company secretary. The company secretary does not need to be licensed. The company secretary can be an individual or a company and can be resident in any country of the world.

    A Panama Corporation is required to have a Registered Agent in Panama. The Registered Agent should be licensed.

  • FOREIGN INVESTORS
    Restrictions on Foreign Investors

    There are no restrictions on foreign investors investing in a Panama Corporation.

  • FORMATION
    Time Needed for Incorporation

    It usually takes between 2 - 5 days to register a Panama Corporation.

    Shelf companies are available.

  • CONFIDENTIALITY
    Beneficial Owners

    The details of the beneficial owner are disclosed to the service provider and are not available on public record.

    Registered Shareholders

    The details of registered shareholders are not available on public record.

    Directors

    The details of directors are available on public record.

    Financial Statements

    The accounts are not publicly accessible.

  • FILING REGUIREMENTS
    Filing with the Registrar of Companies

    A Panama Corporation is not required to file an annual return.

    Filing with the Tax Authorities

    A Panama Corporation is required to file a tax return within 3 months from its accounting year-end.

  • RECORDS
    Accounting Records

    A Panama Corporation needs to maintain accounting records.

    Accounting records can be maintained outside Panama and in any currency.

    Financial Statements

    A Panama Corporation is not required to prepare annual financial statements.

  • AUDIT
    Audit Requirement

    There is no requirement for a Panama Corporation to audit its financial statements.