Partnership Companies in Panama

Partnership Companies are corporations for professionals. They are widely used by law firms, architects, accountants, doctors, and consultants, or whenever two or more licensed Panamanian professionals with the same qualifications want to open a business to pursue their occupation.

The Panama Partnership Company is similar to the Limited Liability Partnership (LLP) in the USA, Canada and India, the PartG in Germany, or the Special General Partnerships in China.

Characteristics of Panama Partnership Companies

It is an independent legal entity, separate from its partners. However, partners are legally liable for the company’s operations
As a legal entity, it can own assets and bank accounts, and can also file lawsuits
It does not require a minimum initial investment
It requires 2 or more licensed Panamanian partners
It pays no annual corporate tax
It pays no annual resident agent fee
It is the simplest and least expensive way to open a business, but it does not protect the partner’s personal assets in lawsuits

Requirements to open a Partnership Company

The process to open a Partnership company takes 3-5 working days, and requires the following information:

Partnership name
Name and address of all partners
The objectives of the company
Legal representative

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