In Panama there are two types of Corporations in Panama
– One operating in the republic and
– offshore where their operations are outside the territory.
Capital Requirements
The corporations must be constituted with a capital of no less than 10,000.00 dollars, which does not have to be deposited.
For the creation of a company you need 2 directors who are associated to the company.
If they are not in Panama we can provide the directors of the company.
For the board of the company a minimum of 3 directors is required, these 3 hold the offices of President, secretary and treasurer and may be part of the board of the company as president and secretary the same person, adding another person to be listed as treasurer.
The shares can be divided into as many parts with a minimum of 1.
Regarding the tax regime, companies only pay Income Tax, only on the income derived from activities carried out within the territory of the Republic of Panama.
Offshore Companies would not have to declare income, if they do not issue not invoiced in the Panamanian territory but if it would have to keep its accounting records, the new law for offshore companies requires that they must keep their accounting records up to date either physically or digitally.
Accounting can take you here in Panama or where the company maintains its activities but will not have to declare either in Panama or the country where the company has operations, you only have to pay the one-time annual fee of 300.00 dollars to the DGI and the lawyer’s service as resident agent of 350.00 dollars per year, serving as your representatives of any type of corporations in Panama.
Benefits for shareholders in the different types of Corporations in Panama
The shareholders of a limited company (SA) are not liable with their personal assets to the debts of the company.
The constitution of the corporation is broad, since it allows any lawful business.
Regarding the shares, a certain number of shareholders is not required, so only one person can own all of the shares and consequently own all of the Company.
