Introduction to Panama
USA Corporate Services has been helping businesses, investors, attorneys, accountants and other professionals with their offshore company needs since 1992. We offer services in Spanish and Mandarin Chinese as well as in English, in order to best serve the needs of our diverse clientele. Our staff provides you with fast, efficient and friendly service, and will be glad to handle your questions regarding the jurisdictions we handle.
Advantages
- A very well established jurisdiction that has developed a good
reputation over a number of years
- The legal infrastructure is well developed and the professionals
within Panama have marketed the jurisdiction aggressively and
actively over an extended period.
- Well-known flag of convenience for shipping purposes.
- Based on Delaware Corporation Law
Disadvantages
- The professionals who once worked solely from Panama now have
interests in other jurisdictions such as the BVI and Bahamas and tend to
concentrate less on Panama.
- One of the few non-English language offshore centers.
Company status
Non-Resident Corporation
Corporate legislation source
Civil Law; Delaware Corporation Law of 1927
Company name
The name of the corporation may be in any language and must end with an appropriate suffix: Corporation, Incorporated, S.A., etc.
Time taken to incorporate
2 to 3 days
Are shelf companies available?
Yes
Usual minimum capital
No minimum
Capital duty
Registration fee of $50 for capital of US$10,000. Sliding scale operates
above this level.
Minimum number of shareholders
One
Are bearer shares/shares of no par value possible?
Yes/Yes
Directors: Minimum number/corporate directors allowed/location
Three/No/No restriction
Secretary: Mandatory/corporate secretary allowed/location
Yes/No/No restriction
Is there a requirement for a Registered Office/Registered Agent
No/Yes
Is any information required by the authorities prior to incorporation or prior to tax status being granted?
None
What information is available on the public file?
Deed of Incorporation, names and addresses of Directors, Registered Agent
What documents must be kept at the Registered Office?
None
Corporate books & seal
The company must maintain a minute book and stock register, both of
which may be maintained in any part of the world.
Are accounts required/filed?
No/No
Is an annual return required?
No
Where are meetings to be held?
No restrictions
Annual fees payable to the government: Tax/Annual Return filing fee
US$150/None
Are there any exchange controls
No
Double tax treaties
None
