LLC Company in Panama

Panama Limited Liability Companies (LLC) work similar to a Corporation but with less complexity. Law 4 from January 9, 2009 regulates their requirements and operations. These companies can carry civil or commercial activities, whether in Panama or anywhere in the world.

LLCs must carry a name available at the Panamanian Public Registry, and such name must include the suffix Sociedad de Responsabilidad Limitada or the initials S. de RL The LLC can be established for a finite period of time, or indefinitely.

Characteristics

Subscribers: The law requires a minimum of 2 persons, whether natural or legal, to open an LLC. These persons can be Panamanian or foreigners, and they are NOT required to be a company owner.

Initial Investment: The initial capital to open the LLC does not have to be liquid or available up front, and can be registered in any currency. The responsibility of each partner is limited and proportional to the capital invested.

Partners: The law requires a minimum of two partners or owners to open the LLC, whose information must be recorded in the Public Registry. These can be natural or legal persons, and there’s no maximum cap on the number of partners. Owners can dispose of their stake in the company at any time with a private document.

The process

The law requires a private notarized document or a notarized public deed to open an LLC and register such company in the Public Registry. This document will include:

The personal details of subscribers and partners
The LLC official location
The LLC duration, whether for a finite period of time, or indefinite
The purpose of the LLC, which can be open or limited
The initial capital investment in any currency, which we recommend to be of US10,000. However, the minimum capital investment can be less or more than that
The personal details of managers responsible for the LLC administration and the legal representation. These managers may or may not be LLC owners
The personal details of any other administration member (e.g., secretary, treasurer, etc.), persons with general or special power of attorney, and their designated responsibilities

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