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Panama Offshore Company (IBC) Formation

Panama is located in Central America between Costa Rica and Colombia. It is an international centre for trade and financial services.

Panama has a long history and good reputation for financial and offshore excellence. They offer complete confidentiality, tax-free opportunities, progressive legal environment and a supportive banking infrastructure.

  • Favourable Incorporation Laws
  • Privacy – Confidentiality and anonymity
  • Stable Government
  • No mutual legal assistance treaties
  • No Corporation Tax
  • Corporate books Privacy
  • Anonymous Ownership
  • Exemption from all local taxes and stamp duty
  • Asset security
  • Minimum capital requirements
  • No requirement to hold annual general meetings
  • Highly competitive fees
  • Forex and Stock Trading
  • E-Commerce
  • Private Interest Foundations
  • Professional Services Company
  • Holding Company
  • Licensing Company
  • Internet Services
  • Offshore Savings and Investments
  • Asset Protection Company
  • International Trading Company

A Panama Offshore Company is restricted from trade within Panama. There are also restrictions on banking, insurance, assurance, reinsurance, collective investment schemes, fund management, trust management, these require Licensing or Authorisation.

The requirements for incorporation are that two subscribers must be present at the Public Registry, for incorporation. The subscribers are usually Registered Agents or Lawyers, which submit the Articles of Incorporation. The Articles include, the Name of the corporation, the corporate objectives, name and domicile of the subscribers, corporate capital, the duration of corporation, Name and addresses of the Directors (President, Secretary and Treasurer) and the name and address of the registered agent.

The Subscribers have a right to own one share of the corporation. Once the company is established, these “Agent” subscribers, sign a documents and effectively resign their rights to the one share of the company. These are then given to the client who intended to incorporate the company, along with all other company documentation.

Overview
Company TypeLimited by Share Company - Offshore
Country LawCivil Law
Company Law

General Corporation Law of 1927

Commercial Code Law 17

Coded Bank Accounts Law 8 of 1959

Registered Office RequiredYes
Local Registered Agent RequiredYes
Shelf Companies PermittedYes
Migration Of DomicileYes
Average Time To Form Company3 to 5 Business Working Days
Government Fees
Minimum Government Formation Charge$250 USD
Recurring Minimum Annual Company License Fee$250 USD
Annual Return Filing FeeNot Applicable
Corporate Tax
Corporation TaxNo
Access to Double Taxation TreatiesNo
Directors
Minimum Required Directors3
Local Director RequiredNo
Records PublicYes
Board Meeting LocationAnywhere in the World
Corporate Directors PermittedYes
Privacy - Publicly Available RecordsYes

A minimum of three directors is required – Also to appoint three officers, President, Treasurer and Secretary, which may be the Directors.

Company Secretary
Secretary RequiredYes
Local or Qualified PositionNo
Share Capital
Standard CurrencyUS Dollar
Permitted Share CurrencyAny
Minimum Paid Up Shares$1 USD
Usual Authorised$10,000 USD
Bearer Shares PermittedYes
No Par Value Shares PermittedYes
Shareholders
Minimum Number Of Shareholders1 Shareholder
Corporate Shareholdes PermittedYes
Meeting LocationsCan be held anywhere in the world
Privacy - Publicly Available RecordsNo
Company Accounts
Requirements To PrepareNo
Audit RequiredNo
Keep Financial RecordsNo
Requirement To File AccountsNo
Requirement to File Annual ReturnNo
Accounts Publicly AccessibleNo

A Stock Register must be kept by law. This register contains the names in alphabetical order, place of domicile and date of acquisition of shareholders, other than the holders of Bearer Shares. This may be held anywhere in the world.

There is also a requirement for a Book of Minutes to be kept, but may be kept anywhere in the world.

All Panama Offshore Companies are exempt from Corporation Tax. As well have having no tax reporting requirements, other tax exemptions, include:

  • Sales

  • Income

  • Capital stock

  • Property

  • Estate

  • Gift

  • Stamp

  • Inventory

  • Capital Gains

  • Shareholder

  • Stock Sales or Transfers

  • Succession

  • Issuance of Corporate Shares

Panama Facts
LocationCentral America situated between North and South America
SizeApproximate area of 75,517 sq. km
PopulationApproximately 3,608,431
Languages SpokenMain and Official Language is Spanish
Currency

Balboa PAB

United States dollar USD

PoliticsUnitary Presidential Constitutional Republic
Economy

Main Industries:

Tourism

Financial Services

Agriculture

Exports

Transport

Air

Road - Driving on the Right

Boat

Time ZoneEST (UTC−5)
International Dialling Code+507
Internet TLD.pa

Contact us today to enquire about the Cost of Formation or if you have further questions regarding the application process.

Panama Offshore Company (IBC) Formation Enquiry

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