Panama Corporation

About Panama

Panama is a small country located in Central America; bordered by the Caribbean on the North, the Pacific Ocean on the South, and connected by the infamous Panama Canal. Panama is the fastest growing economy in the Americas and has become a well-known international hub for business with the highly developed banking sector and sophisticated infrastructure for commercial and financial activities.

Panama has become a well-known international hub for trade, finance, and banking services and has set the world standard for offshore corporations and companies amongst other offshore services. With a favorable legal environment, businesses and entrepreneurs can take advantage of setting up their businesses in the premier destination of offshore corporations.

Current president:
Laurentino Cortizo

Government:
Constitutional democracy

Economy:
Services sector including the Panama Canal, banking, commerce, and the Colón Free Trade Zone

Currency:
US Dollar

Capital City:
Panama City

Population:
Over 4.2 million

Language:
Spanish

Tax system:
Territorial Tax System

Members of:
United Nations, Inter-American Development Bank, OAS (Organization of American States)


Benefits

Setting up an offshore corporation is simply setting up a corporation in a different jurisdiction other than the home country or the country of the company’s main operations. Offshore jurisdictions typically offer better corporate and financial laws as opposed to onshore jurisdictions. The offshore industry is addressing and offering viable solutions to address the ever-changing needs of global business and banking, creating offshore entities with an array of benefits.


Characteristics


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Process

1. While many offshore jurisdictions offer similar advantages and benefits, there are no one-jurisdiction-fits all. Our advisors will discuss your needs and goals and ask you the right questions to help determine which jurisdictions are right for you.

2. Defining the objectives of the corporation will help establish which legal structure is right for you. Our advisors will assist in setting up the corporation along with any related services.

3. Choosing a local resident agent is key in establishing a well-defined foundation that adheres to local laws and offers the corporation the most protection and privacy. As this is an ongoing relationship, it is advisable to set up an offshore foundation with a reputable and trusted firm.

4. Each jurisdiction will have their own set up process and set of due diligence processes. Panama requires clients to fulfill KYC (Know Your Client) by proving your identity with proof of address, as well as completing a simple form to provide the necessary information to set the corporation up.

5. Once the required documentation is received, the provider can then file the corporation deed, creating a legal entity in the public registry.

6. After the corporation is set up, clients can request any additional services such as business licenses, permits, banking etc.

7. Annual fees including resident agent and tax/maintenance fee must be paid in order to keep the corporation in good standing with the tax offices in Panama. Financial statements are required to be maintained, though filing of the statements are not required. Annual meetings must be held, either local or abroad.

While many offshore jurisdictions offer similar advantages and benefits, there are no one-jurisdiction-fits all. Our advisors will discuss your needs and goals and ask you the right questions to help determine which jurisdictions are right for you.

Defining the objectives of the corporation will help establish which legal structure is right for you. Our advisors will assist in setting up the corporation along with any related services.

Choosing a local resident agent is key in establishing a well-defined foundation that adheres to local laws and offers the corporation the most protection and privacy. As this is an ongoing relationship, it is advisable to set up an offshore foundation with a reputable and trusted firm.

Each jurisdiction will have their own set up process and set of due diligence processes. Panama requires clients to fulfill KYC (Know Your Client) by proving your identity with proof of address, as well as completing a simple form to provide the necessary information to set the corporation up.

Once the required documentation is received, the provider can then file the corporation deed, creating a legal entity in the public registry.

After the corporation is set up, clients can request any additional services such as business licenses, permits, banking etc.

Annual fees including resident agent and tax/maintenance fee must be paid in order to keep the corporation in good standing with the tax offices in Panama. Financial statements are required to be maintained, though filing of the statements are not required. Annual meetings must be held, either local or abroad.


Our Services

Corporation
Formation

We assist with advising possible jurisdictions to suit your business needs and goals along with the incorporation process.

Continued
Support

We assist with corporation maintenance as well as providing on-going support

Related
Services

We assist with related services such as offshore trust, foundations and offshore.


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