The Notice of Operation in Panama is regulated by Law No. 5 of January 11, 2007. The Ministry of Commerce and Industry is the entity in charge of supervising.
A Notice of Operation or Commercial License is a document issued by the Panamanian Government and that enables a natural person or a company to carry out commercial activities within the territory.
Requirements to obtain a Business License.
- It must contain the name of the commercial establishment, place of operations, start date, number of employees and activities that will be developed.
- The applicant decides whether to apply as a natural or legal person. You must take into consideration that this document will be of a personal and non-transferable nature and it will cover the declarant only under the activities that are declared in this notice.
- In the event that the request is in the name of a natural person, this will entail a legal risk that puts the individual and his personal property in the event of a lawsuit.
- The Notice of Operations for a duly registered company is obtained the same day. However, the start date of operations cannot be more than 12 months from the time the license is obtained.
- Off Shore companies whose operations are exclusively outside the country) do not need a Business License.
If you need advice, do not hesitate to contact us, at Ba-Lawfirm.com, we have specialized Panamanian lawyers, who have solutions to your requirements.
If you need advice, please contact us at ba-lawfirm.com or through our email consultas@ba-lawfirm.com, we are ready to help you.