The Republic of Panama is a popular jurisdiction in the world for all types of business activities and is recognized as the best country for the formation of a corporate business structure. The Corporation – Sociedad Anónima (SA) is one of the most common types of companies in Panama. This form of the company offers many advantages, in terms of limited liability (limited to the level of contribution) and regulated access to capital.
The SA is often the legal form of company chosen by large businesses, but it can also be used, as the shares in this type of company can be bearer shares and are therefore more easily transferable.
The founder must agree with a law firm in Panama or with a private (licensed) attorney. The attorney will be the official legal entity of the company authorized to represent the company in the government of Panama. Shareholders of the company must obtain an individual taxpayer number. Founder must create company management rules – company charter and signing of this main corporate document. It is necessary to obtain the appropriate license for the company (according to the business profile) for the possibility of conducting commercial activities. Each company must Open a corporate bank account in a Panama bank (the company account can be either Panamanian or foreign).
Register a corporation in Panama with our professional assistance. We are experts in company registration and formation, bank account opening, and doing business in Panama.
The presence of the founder is not required when registering a Panamanian company. The registration procedure can be carried out based on a power of attorney provided by the founder of a local law firm. The company can be registered within 5-7 business days. Taking into account opening a corporate bank account in Panama and obtaining the necessary licenses to allow the company to operate locally, the term of the registration process can take 6-7 weeks.
Registration of an offshore company in Panama is possible in the form of a corporation or limited liability company and is accompanied only by the payment of a one-time state fee of $ 250. The fee is paid in the same amount for the second and subsequent years of the company’s existence.
- A foreigner can own 100% of the shares of a Panamanian corporation. There are no restrictions on the founder’s citizenship and residency requirements;
- High confidentiality of the name of the beneficiary and shareholders of the company. Nominee directors can be used by the company officially;
- The minimum number of shareholders in the company is 1 (one) person (natural or legal);
- There are no requirements for the size of the company’s authorized capital;
- Lack of government control over corporate capital;
- The company must have a legal address in the country;
- Appointment of a registered company agent (official legal representative) is required;
- Foreign words may be used in the title, but the following words or their abbreviations must be used: Sociedad Anónima (SA), Corporation (Corp.), or Incorporation (Inc.).
You should provide the list of the following documents:
- Proof of address
- Legal address approval
- Name reservation application
- Articles of Organization
Consultation about company registration
Our specialists are the best on the market – they have vast experience in this field of activity. We also provide a consultation service for the opening of JS company in Panama. We will talk about the possible risks and benefits of opening a JSC. We will also make sure about taxes, fees, and opening a bank account. We will provide up-to-date information on any of your questions.
Other types of companies
If you feel like Corporation does not fit your needs, click the button below and you will see other legal forms like Limited Liability Company, Holding Company, Branch office and more.
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