Panama Company Formation
Panama International Business Company (IBC) Company Formation
Panama International Business Company (IBC) Company FormationPanama is a popular offshore jurisdiction because of the large number of privacy and tax advantages from which offshore companies incorporated there benefit. Incorporating an IBC in Panama provides extensive confidentiality for the beneficial owners as company registers are not available for public inspection, and shareholders enjoy exemption from all local taxes and duties, including income tax, capital gains tax and corporation tax.
Company Name
Company NameA Panamanian IBC can have a name in any language provided that it is unique and that it ends with the following designations or their abbreviations: Corporation (Corp), Incorporated (Inc) or Sociedad Anónima (SA); the designation Limited (Ltd) may not be used. Formacompany can reserve your company name for up to 10 ten days.
Registered Agent
Registered AgentIt is a requirement that a Panamanian IBC must have a registered agent and a registered address in Panama; this is where all official correspondence is sent. These are both provided as part of our incorporation service.
Directors
DirectorsA Panamanian IBC requires three directors. Director details are not filed on the public register.
Shareholders
ShareholdersA Panamanian IBC requires a minimum of one shareholder. Shareholders’ names are not filed on the public register.
Share Capital
Share CapitalThe standard authorised share capital is US $10,000 divided into 100 common voting shares of USD 100 each or 500 common voting shares of no par value; the capital may be expressed in any convertible currency. The minimum issued capital is either one share of no par value or one share of par value. Share Capital does not have to be paid into a bank account before the incorporation.
Filing Requirements
Filing RequirementsThere is no need to file any company tax returns in Panama if all the income was derived from offshore transactions. There is no requirement to file financial statements if the income is from sources outside of Panama.
Timescale
TimescaleThe incorporation of a new company takes approximately one week from the date we receive proof of address and identification.
Panama Company Formation Fees
Panama Company Formation FeesPanama Corporation Company Formation – 5 – 7 days
| £1000 | |
| Additional Services | ||
|---|---|---|
| Company Administration & Registered Office (required) | £590 | |
| Compliance (3 directors required) service with apostilled documents | £600 | |
| Company Secretary (if required) | £300 | |
| Annual Renewal Fees | ||
Company Administration
| £590 | |
| Provision of Resident Director | £400 | |
| Company Secretary | £300 | |
| Annual Government Fee – US$300 | £250 | |
| Directors Register Maintenance | £175 |
Your company will be incorporated using your chosen name and we will ensure that the procedure is as simple as possible.
The whole incorporation process can be completed online and we will administer the preparation and filing of all registration forms on your behalf.
Proof of Identity
Proof of IdentityAs part of our due diligence we require proof of identity in the form of a passport copy for all directors and shareholders of the company.
Travel
TravelA visit to Panama is not required to incorporate your company.