Company formation in Panama
The Republic of Panama is a Central American state, the state favorably focuses on attracting foreign investment. Therefore, registering a company in and opening a bank account in Panama is a very smart decision in favor of your business. In addition, Panama has agreements with many countries to avoid double taxation.
Considering Panama
Panama has all the necessary conditions for a foreign entrepreneur to develop their business. These are 7 top factors such as:
- State tax policy. Income derived from domestic activities is subject to taxation.
- Fast terms of organizing a company in Panama and the simplicity of its registration.
- Low cost of company maintenance and business. Simplified documentary reporting, which does not require annual financial reports on the company’s activities. Especially it is possible to note a wide range of offers and a low price for office space rent.
- The quality of the infrastructure, namely the provision of high-speed broadband Internet. In this direction, Panama ranks first in Central America. The banking sector of the state is one of the most powerful in the world, there are about 100 international banks.
- Progressive laws to provide a legal way to stay in the country allow you to choose the most suitable type of visa to live and work in Panama.
- Availability of free trade zones that are suitable for different types of activities. The use of a stable currency – the US dollar, also should be noted in Panama, the inexpensive labor cost.
- English is widely used in business environments and is not limited to Spanish.
Register business
Choosing the right legal form is a responsible task and requires a lot of knowledge and experience about each of the type of legal entity. Our team of experts has a lot of experience in this field and help with legal services on daily bases.
Business formation steps
Entrepreneurs who are interested in starting a business in Panama must meet several requirements to quickly and correctly get started on the Panama market.
1st Market research
The very first step in the company formation process is market research and entry.
2nd Choosing the company name
The second step is to choose the legal name of a company in Panama. The selected option must be submitted to the Chamber of Commerce.
3rd Document preparation
The third step includes a lot of paperwork and document preparation. We will help you prepare the necessary documents for registering a company.
4th Bank account
Every company goes through a corporate bank account opening step. If you need help choosing corporate banking options in Panama then our experts can help with that.
5th Tax identification number
Obtaining from the tax service a tax identification number and a VAT number. The entire process of applying for a VAT number can be completed within 5 business days.
6th License acquisition
The last step is to acquire a business license for the company. We also provide assistance in obtaining a license in Panama.
Our company offers comprehensive services for the formation of a company, we will help you prepare documents, obtain the necessary licenses, open a bank account so that your company successfully enters the Panama market.
Market research and entry
The very first step before starting a company is doing the research of the market. Only when research is done, the next step is the market entry and company registration.
Market research
Market research is the systematic analysis, search, presentation and collection of data, information related to a specific market situation faced by an enterprise. Based on well-conducted research, the business reduces business risks and losses.
Market entry
The very necessary question for any businesspersons who would like to enter the market is “why?” The businessman should figure out whether it wants to increase turnover, expand the geography of sales, or attract foreign currency. When you have set a clear task and wrote a business plan, then the entrepreneur should analyze the market, the market dynamics, the country’s trade balance, production volume, and import volume.
Consultation about company formation
Given the state’s interest in a transparent and continuously developing investment climate on its territory, according to local legislation, the registration of a business in Panama is not burdened with complicated requirements. Our team of lawyers will help you register a company in Panama, and will advise you on all matters of registering a company.
You can register a company by these legal forms:
Limited Liability company
The most common form of incorporation In Panama is a Limited Liability Company. This type of company is suitable for all commercial purposes – from commodity trading to asset management.
Corporation
Corporation has a very similar structure as an LLC. SA stocks(shares) can be the subject of public trade. These shares of the stock can be bought and sold by other shareholders.
Holding Company
Holding Company is meant to hold the outstanding stock of other companies’. This type of companies purpose is to own shares of other companies to form a corporate group.
Branch Office
The branch office is used for companies to satisfy customer needs for face-to-face interaction. Depending on the needs of the business, the Branch office can consist of a single individual or It can be staffed.
Entrepreneurs who wants to expand the boundaries of business open a company abroad. The Republic of Panama is a great starting point for successful business development into foreign market.
For more information about company formation in Panama contact us.
Accounting solution
All businesses need to do bookkeeping for their business and complete all conditions and laws of the country. We will take care of all the paperwork. We have an accountant with huge work experience.
We have many years of experience and the necessary knowledge to register a company in Panama and provide a solution for your business. Our lawyers, accountants, and business consultants will help you with the process of registering a company and the further conduct of your business. Register the company with us!
Form a company
Ready for next step
Accelerate your business growth while we take care of everything else.