INCORPORATION
PANAMA
See also: LCG-Special-Website Panama
Company formation in Panama, Legal and Taxation Aspects
| Company Type: | Sociedad Anónima (S.A.) |
| Name: | The company name must include "Corporation", "Incorporated", "Société Anonyme", "Sociedad Anónima" or end with the abbreviation "Inc." or "S.A.". |
| Capital: | No minimum capital; Standard capital 10 000 US$ (no obligation to pay up shares). |
| Shares: | Bearer shares and registered shares are permitted. Bearer shares must be deposited with a trustee. |
| Shares Index: | Yes |
| Registered Agent Requirement: | Yes; Office in Panama not required. |
| Registered Headquarters: | Yes |
| Entry in the Public Register: | Yes; Entry in the commercial register. |
| Shareholders: | Minimum of 2 founding shareholders; thereafter a minimum of 1 (natural person or legal entity; must not be resident, can be any nationality). |
| Directors: | 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. |
| Secretary: | Yes |
| Incorporation Period: | 10 days; shelf companies are common. |
| Disclosure of Beneficial Owner: | No |
| Disclosure of Shareholders: | Limited; Anonymity can be retained through nominees. Furthermore, the obligation to register founding shareholders only applies to first company formations and not to subsequent formations. |
| Disclosure of Directors: | Yes; Particulars of the directors must be entered in the register. Anonymity can be retained through nominees. |
| Trading Restrictions: | Trade in the banking and insurance sectors is not permitted. |
| Taxation: | None; Profits gained outside the jurisdiction are tax free in Panama. |
| State Tax Charges: | 300 US$ annually |
| Double Taxation Agreements: | None |
| Financial Statements: | No |
| Tax Returns: | No |
| Accounting: | No |
| Annual Reports: | No |
Acquisition Fees Panama Sociedad Anónima (S.A.)
| Shelf Company or new Incorporation Included: + Registration Fees (for standard authorized capital) + Notarial Deed + Two Share Certificates + Nominee Shareholder + Share Register + General Power of Attorney + Registred Agent + Nominee Directors | |
| TOTAL | 1450,00 Euros |
Annual Fees Panama Sociedad Anónima (S.A.)
| Included: + Annual License Fees (for standard authorized capital) + Shareholder Service / Nominee Shareholder + Registered Agent + Directorship Service / Nominee Directors + Company Management Services / Offshore Service + Professional Virtual Office in Berlin or Luxembourg (incl. address, phone and fax numbers, life call answering) + State Tax Charges of $ 300,00 per year (1st year on a pro rata basis) | |
| TOTAL | 1980,00 Euros |
LCG International offers its services and manages the companies by LCG's Lawyers or Tax Consultants.
General Information
| Area: | 77 082 sq km |
| Capital: | Panama City |
| GDP per capita: | 7 050 € |
| Unemployment Rate: | 13% |
| Population: | 3,2 Million |
| Language: | Spanish, English |
| Currency: | US$ |
| Rate of Inflation: | 2,5% |
| Political Risks: | None |
| Cost of Living: | Low |
| Communications: | Good |
| Residence Permit: | Easily acquired |
| Legal System: | Panamanian civil law is based on Spanish civil law; company law is equivalent to that of Delaware, USA. |
| Exchange Control: | No |
| Patent Law: | Yes |
| Tax Information Exchange Agreement: | No |
