Domicile of Companies in Panama
The redomiciliation of Companies and Foundations or corporate redomiciliation is a process that consists of companies moving their domicile from one place to another, changing the country in whose laws they have registered while maintaining the same legal identity.
Why do you do a redomiciliation of Companies?
The redomiciliation of Companies is carried out for various reasons, among which we can mention:
1.Take advantage of favorable tax laws
2. Enjoy less strict regulatory provisions;
3. Align your place of registration with your shareholder base or to access specialized capital markets, among others.
How to redomiciliate a company to Panama?
The Company redomiciliation in Panama is a very interesting alternative offered by Panamanian legislation to the shareholders of a company, through which the domicile of the company in question is transferred to the Panamanian jurisdiction, in order to enjoy a favorable tax regime or enjoy less strict provisions.
The domicile of companies in Panama is regulated in the Commercial Code, specifically in Articles 11-B, C and D and to do so, the following documents must be prepared and recorded, among others:
– Certificate of Validity of the company, which has been issued by the competent authority and was duly apostilled.
– Agreement, Resolution or Act of the competent organism where the authorization to continue the existence of the company is recorded in accordance with the laws of the Republic of Panama. This document must be duly apostilled.
It is important to emphasize that the social pact of the foreign company must also be adapted to a Panamanian social pact. Likewise, the requirements established by the Panamanian Companies Law regarding the minimum number of directors and the appointment of a resident agent in Panama must be complied with.
In addition, the due diligence requirements dictated by Panamanian laws must be met.
These documents must be registered in the Public Registry.
It is important to highlight the fact that the company will continue to own all assets, rights, privileges, powers and franchises that belonged to the company in its place of origin.
If you are interested in the Company redomiciliation in Panama, you must have qualified lawyers in Panama to guide you, contact us by email at consultas@ba-lawfirm.com . We have specialized Panamanian lawyers.
