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.
The details of Shareholders do not appear on public record compared to Directors details which are fully accessible.
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 used for
- Holder of bank accounts, fixed deposits, investment plans and any other financial or commercial title;
- Owner of the shares of other companies or legal entities;
- Owner of real estate and any other movable or immovable property or goods;
- Manager and promoter of international business transactions;
- International leasing of aircraft, vehicles, machinery and others;
- Borrowing or lending money, paying or receiving commissions, royalties or others;
- Marketing and promotion of products and services;
- Other commercial and financial activities
- Ship ownership
Our Formation Package
- Registered Address and Agent
- Company Secretarial Maintenance
- Government fees
- Certificate of Incorporation
- Memorandum & Articles of Association
- Appointment of First Directors
- Consent Actions of the Board of Directors
- Share Certificates
- Register of Directors and Members
- Company Seal
We also offer Nominee and Management Services (Substance requirements) along with bank account opening and international tax planning.
Prices and fees included on our website
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.