Panama

Panama

Panama

Location

Situated on the isthmus connecting North and South America.

Economy

Heavily weighted towards banking, commerce, tourism, and trading. The canal opeation brings lots of revenues for the country. Well known for the best place for offshore company formation and ships registration.

Language

Spanish, English

Legal System

Panamanian civil law
Panama Company
Type ociedad Anónima (S.A.)
Name Ens with "Corporation", "Incorporated", "Société Anonyme", "Sociedad Anónima" or with the abbreviation "Inc." or "S.A.".
Capital No minimum requirement.;  Standard capital US$ 10,000.
Share Bearer shares and registered shares are permitted. Bearer shares must be deposited with a trustee.
Share Index Yes
Registered Agent Yes
Registered Address Yes
Public Disclosure No
Min. Shareholder Minimum of 2 founding shareholders; thereafter a minimum of 1 (natural person or legal entity; must not be resident, can be any nationality.
Min. Director Minimum of 3 natural or legal persons; further 3 officers (1 president, 1 secretary and 1 treasurer), who may also form the Board of Directors.
Disclosure of Shareholder No
Disclosure of Director Yes
Trading restriction rade in the banking and insurance sectors is not permitted.
Taxation  None; Profits gained outside the jurisdiction are tax free in Panama.
Financial Statement Yes
Tax Returns No
Account Filing No
Audit Report No
Accounting Yes
Incorporation Cost USD 1,050
Annual Fee USD 1,000

 

 

No avoidable double taxation agreement with other countries.

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