Panama Company - Corporate Environment Summary

Panama Corporation has been recognised across the world as offshore vehicles that can be successfully used in a variety of International Business, carry out commercial and industrial activities.

Panama IBC, is a limited liability company which conducts its trading and business outside the Panama and is intended for offshore activities. It takes up to 4 days to incorporate a company in Panama.

The Directors of the company may be of any nationality and may reside anywhere. At least three directors are required and there is no requirement to appoint a local resident director.

The Shareholders of the company may be of any nationality and may reside anywhere. At least one shareholder is required, this can be the same person as one of the directors. There is no upper limit to the number of shareholders and a shareholder can be a person or a corporation

The standard share capital of a Panama IBC is $10,000 USD. However, only one share of the share capital must be issued and paid up. Your company's share capital can be issued in any currency.

Company Secretary / Registered Office / Registered Agent

The company must have a registered agent and registered office in the Panama. There is no requirement for local secretary.

Privacy

The details of Shareholders do not appear on public record compared to Directors details which are fully accessible.

Company Records

The company must maintain accounting records, however it does not have to keep records in the Panama and there is no requirement to file accounts or financial statements. There is no requirement for having audited accounts.

Corporation and other taxes

There are no corporate taxes for a Panama IBC, except for annual government levy of US$300 for standard share capital.

Why use a Panama Company.

Panama offshore companies are commonly...