Thursday, 21 March, 2019
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Panama – Sociedad Anonima
  • Panama is an independent state that connects both the North and South parts of the American continent and is consequently a strategically beneficial location.
  • Panama was a colony of Spain until 1821, and then it became a colony of Colombia. In 1903 it became independent.
  • Toll revenue of the Panama Canal owned by Panama since 1999 has been a considerable contribution to the budget of Panama. The Colon Free Zone situated in Panama is the second largest in the world after the Hong Kong Free Zone.
  • Panama adheres to territorial taxation of revenue, and any revenue received abroad is exempted from taxes. Consequently, Panama companies that derive no income in Panama are totally tax-free.

GENERAL INFORMATIONTotal area - 75,515 sq km
Population - 3,600,000
Location - click here to see the map of offshore jurisdictions
Political status - republic
Capital - Panama City
Official language - Spanish (English in general use)
Official currency - USA Dollar (USD); Balboa (PAB)
Time zone - GMT - 5
Company typeCorporation
Directors/OfficersPanama Corporations require a minimum of 3 Directors, who may be natural persons or corporate bodies from any legal jurisdiction.
Each Panama Corporation must file information on its Directors with the Register of Enterprises of Panama.
ShareholdersShareholder/s of Panama Corporation may be natural persons or corporate bodies from any legal jurisdiction.
Information about shareholders has to be kept in company files, and is not to be filed with Register of Enterprises.
SecretaryPanama Corporations require a minimum of 1 Secretary, who may be a natural person or a corporate body from any legal jurisdiction.
Each Panama Corporation must file information on its Secretary with the Register of Enterprises of Panama.
Authorised share capital Standard authorised capital = USD 10,000.
There is no statutory requirement for capital to be fully or partly paid on incorporation.
Company Names The name of a Panama Corporation must end with the words "Sociedad Anonima", "Incorporated", "Corporation" or suffixes such as "Inc.", "Corp.", "S.A.", etc.
Company names containing restricted words such as "Bank", "Insurance", "Trust", "Assurance", "Imperial" etc. will not be permitted unless an appropriate national operating licence has been obtained by the company.
Beneficial Ownership information Information with regard to ultimate beneficial ownership must be disclosed to the Registered Agent of the company and is held by the agent on a confidential basis.
Filing of Annual ReturnThere is no requirement to file an Annual Return.
Filing of Financial StatementsThere is no requirement to file Financial Statements in Panama for Corporations.
Corporate TaxationPanama companies that do not carry on commercial operations in Panama, are not subject to taxation in Panama.
Tax TreatiesPanama companies that do not carry on commercial operations in Panama, are not regarded as resident for tax purposes in Panama, and therefore are not entitled to take advantage of Double Tax treaties concluded by Panama with other countries.
Timeframe for incorporation 6/7 working days. A complete set of company documents can be delivered in 5/6 weeks.
Takeover of management & secretarial services for an existing Panama CorporationPossible, following verification of Beneficial Ownership and agreement with and discharge of liabilities to previous corporate service provider in Panama.
Description of incorporation documentsClick here for itemised description of company documents.
"Ready-made"("Shelf") companiesToday we have 1 "Ready-made" companies available in this jurisdiction
Price of Panama CorporationEUR 1,180, including incorporation costs, full domiciliary (Registered Agent/Office) costs, set of documents legalised by Apostille, including General Power of Attorney.
Cost of annual support servicesEUR 790 per year, including annual Government Duty, full domiciliary (Registered Agent/Office) costs, General Power of Attorney for current year.
  • INTERNATIONAL OVERSEAS SERVICES has the following comments: -
  • Panama is a classic offshore jurisdiction that is very popular and provides high-quality corporate services.
  • The current Panama corporate and financial legislation is developed in full compliance with current international standards. These achievements are appreciated by organisations such as OECD and FATF.
  • Therefore, Panama is an ideal option where a classic offshore company is required.
Info Lines:
Tel Aviv:+972-37-382009