The Public Limited Companies in Panama according to Law 32 of 1927 are mercantile companies whose owners or holders have a participation in the share capital, represented through Share Certificates, of the company and whose shareholders do not respond with their personal assets of the debts of the society.
The minimum social capital to start a Public Corporation in Panama is ten thousand dollars ($ 10,000.00), can be used by the financial and business community for purposes as diverse and varied as the acquisition of goods, the reservation of the identity of their owners, the limitation of the personal responsibility of the shareholders in the realization of investments or in the execution of commercial operations that involve some risk, the acquisition of business, the structuring of businesses or the structuring of operations or financial transactions of high economic impact, both in Panama and abroad.
Advantages offered by Law 32 created in 1927
It is fast to set up the constitutions of the societies and have a more flexible formality.
The usefulness of corporation is broad, since it allows any lawful business.
The payment of the subscribed capital is not required, only that it must be established in the Pact.
As for the shares, a certain number of shareholders is not required, so that only one person can own all of the shares and consequently of the Company.
Regarding the tax regime, companies only pay Income Tax, only on income derived from activities carried out within the territory of the Republic of Panama.
Taxes of Corporations in Panama
The Public Limited Companies must pay annually the sum of three hundred dollars (US $ 300.00) in concept of registration tax or validity, called the single tax rate to the General Directorate of Taxes (DGI).
Failure to pay this single fee may result in a fifty dollar surcharge ($ 50.00) up to a fine of three hundred dollars ($ 300.00) in addition to your annuity. In case of not paying the rate for 3 consecutive years, they will delimit the functions of the Company for the non-exercise of commerce.
What do we offer?
B&A Law Firm offers its clients the formation, constitution and operation of Corporations in Panama for local and offshore activities. Our package includes:
- Power in your name
- Original Social Pact
- 2 share certificates
- Legal services
- Translations of the social pact (additional)
- Subscribers (optional)
- 3 resignation letters from the directors (optional)
- 2 letters of assignments of shares of the subscribers
- Resident Agent
A Corporation in Panama gives you
the flexibility you need
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