Panama
Panama, officially called the “Republic of Panama”, is a country usually considered to be entirely in North America or Central America. The capital and largest city is Panama City, whose metropolitan area is home to nearly half of the country’s 4.1 million people. Panama’s economy, because of its crucial geographic location, is mainly based on a well-developed service sector especially commerce, tourism, and trading.
Key Benefits:
- Any profit obtained from an outside source of Panama is free of tax, due to Panamas’ territorial tax system.
- No paid-up capital requirement.
- Incorporation procedure is fast and maintenance fees are at the minimum.
- No currency exchange controls
- Confidentiality through legal protection is offered from legislations of Panama; for businesses and banking transactions.
Fact Sheet
General
| Type of Company | Non resident |
| Type of Law | Civil |
| Shelf company availability | Yes |
| Our time to establish a new company | 1-2 days |
| Minimum government fees (exl. Tax) | US $300 |
| Corporate Taxation | 0 |
| Double Taxation Treaty Access | No |
| Share capital or equivalent | |
| Standard currency | US $ |
| Permitted currencies | Any |
| Minimum paid up | US $1 |
| Usual authorised | US $10.000 |
Directors & Secretary
| Minimum Number | 3 |
| Local Required | No |
| Publicity accessible reports | Yes |
| Location of meetings | Anywhere |
| Secretary |
Shareholders
| Minimum Number | 1 |
| Local Required | |
| Publicity accessible records | Optional |
Accounts
| Annual Tax Return | No |
| Audit Requirements | No |
| Requirements to file accounts | No |
| Publicity accessible records | No |
Other
| Requirement for file annual return | No |
| Change in domicile permitted | Yes |
| Recurring Government costs | |
| Minimum annual Tax/ License Fee | |
| Annual Return Filling Fee |