Panama Company RegistrationDownload Information Sheet
The key features of a Panama Offshore Company Formation are:
- Exemption from all local taxes, when income received from outside of Panama
- Offers some of the tightest financial privacy
- Panama is the ideal jurisdiction for international investors
- A Panama Company may not carry out business in Panama
- No minimum share capital requirement
- Minimum number of directors is three – can be any nationality and can reside anywhere in the world
- You do not need to visit Panama for your Panama Company Registration
- Shareholder details are not held on public record
- A Panama company pays no income or withholding taxes on offshore operations
- Bearer Shares are permitted and they would need to remain in the registered agents custody - please contact us for further information.
The Republic of Panama is the leading offshore jurisdiction on the American continent. With its investor friendly offshore legislations and additional benefits like anonymity for investors, full liability protection, and a complete tax exemption it has become a first choice destination for a large number of investors. The most popular type of company in Panama is a Panama Corporation.
To request a free consultation about your Panama company formation with our experienced team, please call us on +44 (0)1302 729041 or email [email protected]. Alternatively, use the live chat facility on our website.
Why not take a look at our article on offshore company benefits?
What’s included for £995.00
- Panama Company Registration
- Panama Government Registration Fees
- Registered Office for 1 Year
- Registered Agent for 1 Year
- Corporate Company Seal
- Articles of Incorporation Certified and Translated to English
- First Minutes of the Board
- Share Register Form
- Share Certificates
Once all the required identification documents are produced, the Panama company formation process will take approximately 3-5 working days subject to compliance review,
Please note: Due to the difference in time zones we work on, the replies will not always be immediate from the agent and can impact the response time.
Offshore Bank Account
After forming your offshore company you may wish to open an Offshore Business Bank Account. CFS International Formations have a close working relationship with a major bank in Panama.
The Bank we have chosen to work with in Panama meets our high standards of confidentiality, has a high reputation and offers a wide range of banking services which we believe will best suit your requirements.
To apply for an Offshore Bank Account in Panama, you will need to comply with the identification requirements. Like us, the Bank must ensure they are complying with the authorities, as this will help to reduce the chances of Money Laundering.
Why Form a Company in Panama
Panama is one of the most popular and established tax havens. Panama is also well known for its highest confidentiality and privacy. A Panama company is usually used by individuals who are interested in global asset protection, privacy, tax minimisation and affordability.
For Panama Offshore Companies there are no statutory requirements of accounting and audit. It is the Directors responsibility to keep records of the company, it is also their choice what records are stored. Annual meetings for the Directors and Shareholders are not required, although the Directors may decide that they wish to conduct annual meetings. If a meeting is held, it should be held within Panama unless otherwise stated within the Articles of Incorporation.
Panama offers the strictest corporate book and banking secrecy laws available in the world. A Panama company formation provides legal protection of your assets and your identity through the confidentiality of business and banking transactions being conducted through a Panama Company.
Tax Information for your Panama Company Registration
One of Panama’s main tax advantages is due to the fact that it has a territorial tax system. This means that there is no tax on any income which is earnt outside of Panama. This applies to both personal and business income.
Panama Companies are required to pay income tax when a company is trading within Panama or for any individuals employed in Panama. If a Panama Company is conducting business outside of Panama, it is exempt from all local taxes including income tax, capital gains tax, dividend tax and stamp duty on transfer of corporate taxes and other property.
When choosing a company name for a Panama company formation, the name can be in any language as long as it is unique and ends with the following phrases or abbreviations Corporation (Corp), Incorporated (INC), Sociedad Anonima (S.A.).
Limited or Ltd may not be used at the end of a company name.
The company name should be unique and therefore different from companies that are already registered with the Panama authorities.
Directors, Shareholders and Secretary
For a standard Panama company formation, a minimum of one Shareholder and three directors is required. The Directors and Shareholder can be any nationality and they can reside anywhere in the world, corporate Shareholders are permitted.
The details of the Directors and Shareholder are not displayed on public records. Nominees are also permitted.
Please note that if the company has a complex corporate structure, an additional compliance fee may apply.
The standard currency for a Panama company formation is USD, and the standard authorised share capital is 10,000 USD divided into 10,000 shares worth 1.00USD. The minimum issued capital is either one share of no value or one shares with a value.
The company Share Capital does not need to be paid into a bank account before the company is incorporated.
The shares within a Panama company formation can be various classes, can have a value or may not have a value. The Shares can be registered or bearer, however strict regulations do apply to bearer shares.
We are able to assist with forming Offshore Trusts. A Trust is usually setup to manage assets, such as money, investments, land or buildings. If you would like more information on setting up a trust, please contact us with your enquiry.
Annual Requirements for your Panama Company Registration
For a Panama company registration, annual requirements are minimal. There is no requirement to file a company annual return.
It is a requirement that government fees are paid annually along with the renewal of the company registered office address and the registered agent – all of these services are included in the CFS annual renewal cost.
All Panama Companies are required to comply with law 52 of 2016 on accounting records. The legislation requires all companies to keep their accounting records at their registered office in Panama.
This is included in your CFS renewal package.
Accounting records are defined as transactions in respect to the company’s assets and liabilities, receipts and expenditures, and any other transactions they conduct. This could include:
- Bank Statements
- Title Documents
- Contracts and Agreements
- Any other documentation underpinning a transaction
Please Note: We are unable to renew your company without the full accounting records.
If the Panama entity is holding assets, we require information that shows the value of the assets, income and expenses that affect the asset or assets. We can provide a template where you can declare this information, please contact us for more information.
If the company is dormant, we will provide a declaration for you to complete to confirm.
The accounting records must be filed before April 30 regardless of incorporation date.
Yearly Renewal £695.00
On a yearly basis a Panama Company must be renewed with the Registered Agent and Authorities in Panama.
By renewing your company this ensures that it is kept in Good Standing with the authorities in Panama, there are no other accounting requirements for a Panama Company.
Any Nominee Officers will require renewing on a yearly basis.
The price for a Panama yearly renewal is £695.00
The following is included in a Panama yearly renewal:
- Registered Agent
- Registered Office
- Government Registration Fees
- Accounting Records
Panama, officially called the Republic of Panama, is a country in Central America. It is bordered by Costa Rica to the west, Colombia (in South America) to the southeast, the Caribbean Sea to the north and the Pacific Ocean to the south. The capital and largest city is Panama City, whose metropolitan area is home to nearly half of the country's 4 million people.
We offer a few Additional Services for a Panama Company Formation.
The services which are listed below can be ordered whilst you are in the process of entering your company details for your new Panama Company.
If you would like to order any of the below services for a company which has already been formed, please contact us as the prices may vary.
|Additional Services||Price||For more information|
|Panama Offshore Apostilled Incorporation Documents||£154.96||Contact Us|
|Panama Offshore Apostilled Power of Attorney (if nominees used)||£154.96||Contact Us|
|Panama Offshore Certificate of Good Standing||£149.50||Contact Us|
|Panama Offshore Nominee Individual Director||£229.00||Contact Us|
|Panama Offshore Nominee Individual Shareholder||£229.00||Contact Us|
|Panama Offshore Apostilled Certificate of Incorporation||£139.96||Contact Us|
Please Note: the services listed above are starting from.
Due Diligence Documents:
To comply with Money Laundering regulations, CFS Formations are requried to collect Due Diligence documents for officers within your company.
For a Panama Incorporation we would require the following documents:
- Certified colour Passport Copy or ID Card
- Certified utility bill date within the last 3 months – this could be a Bank Statement, Gas or Electricity Bill
- Tax Identification Number
- Proof of Income in the form of of the last tax return, letter of employment, financial/bank statements dated in the last 12 months or investment portfolio
- Reference Letter – this can be obtained from a Bank, Solicitor, Lawyer or Attorney. The Reference Letter must include:
- How long they have known you
- How you met
- Characteristics about you
If your business activities are classed as high risk, involve gambling or crypto currency, they may incur additional costs. We can check this before you order. Please contact our team for any further assistance you may require.
There is presently no regulation in Panama for Crypto Currency or any business related to Crypto.
Ready Made Offshore Companies
A Ready Made Company is a company which has previously been formed and been stored as a non trading company. By purchasing a Ready Made Company you can:
- Boost your business with an established company
Appear to be a reliable company that has been in business for several years
- Establish Business Relationships Easily
Business and Banking relationship are easily established with an older previously registered company
- Gain Confidence from customers
New and existing clients will feel more confident in dealing with you as your company has a history
- Be Reassured
All our Ready Made Companies are non trading companies, are totally clean and clear of any business debts and liabilities
Please click here to view more information about Offshore Ready-Made Companies and how they may benefit you. You will also be able to view a list of the countries where we can offer Offshore Ready-Made Companies. Unfortunately, the list of company names is always changing due to customer purchases. Therefore, we are unable to provide an exact list of the available company names on our website. To obtain the most recent list of available companies, please contact us.
Why use CFS for your Panama Company Registration
CFS have been dealing with Panama company formations for over 9 years and we pride ourselves on not only the speed in which we can incorporate but also the efficiency of the service we provide.
All work carried out by our specialist team for your Panama company registration is done with the utmost confidentiality and urgency.
Our Panama company formation package includes the requirement of a registered agent and registered office in Panama. We also provide fully completed company documents confirming the existence of the company. We have one of the lowest prices for the annual renewal of the company.
We have an easy to use online order form which can be used for a Panama company registration, this reduces the need for lengthy forms to be completed.
Once you place an order you will have a dedicated business administrator who will deal with all the necessary requirements of the Panama company formation on your behalf.
Most jurisdictions have laws which require a licenced agent be located in their specific jurisdiction and for them to submit all incorporations and other relevant applications.
The on boarding, compliance and formation will be processed by the agent with CFS acting as introducer and intermediary.
How long does it take to set up a Panama Company Formation?
Approximately 3 - 5 working days
How private is my information when I open an Offshore Company?
Most locations do not provide any information to the local authorities about the Directors, Shareholders or Beneficial Owners of the Company. However, we do have detailed information on our locations information pages where you can find this information for your chosen country.
“I was very impressed with the service that CFS provided for our Panama company formations. I will certainly be using them again”
Accountant - Netherlands