Compliance Requirements

Authorised and Issued share capital: The standard authorised share capital is US$ 10,000 divided in to 100 common voting shares of US$ 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.

Classes of shares: Non-voting shares, preferred shares, registered shares.

Bearer shares permitted: Yes, but not available.

Taxation: No corporate tax on foreign-sourced income.

Double Taxation Agreements: None.

Financial Statements: not required, if income is of non-Panamanian source.

Licence Fees: Annual Franchise Tax of US$ 250 is payable.

Annual renewal fee: Both for corporations and foundations it includes resident agent, registered office, nominee directors. The 1st year annual fees are paid together with the incorporation costs .

Directors: The minimum number of directors is three. Either a natural person or a corporate entity may be a director. There are no restrictions as to their nationality and country of residence.

Panamanian companies are required to appoint a minimum of three officers – president, secretary and treasurer, - who may also act as directors.

Company Secretary: A company secretary is required to be appointed; he may be a natural person or a corporate entity. There are no restrictions as to the nationality and country of residence of company secretary.

Shareholders: The minimum number of shareholders is one.

Our latest offshore news
30/09/2006
Welcome to join our discussions
on Offshore Companies, Incorporations,
Jurisdictions, etc..
01/09/2008
The IMF has reported that Panama was one of the fastest growing economies in the world last year.
22/08/2008
Cable & Wireless has announced that its principal operations in the Channel Islands, the Caribbean, Panama, Macau, and Monaco are expected to invest more than USD 400 million in Caribbean telecommunications development.
05/07/2008
The IMF concluded the 7th Annual Regional Conference on Central America, Panama and Dominican Republic and examined how globalization and economic integration is impacting Central America's tax structures.
14/03/2008
The President of Mexico Felipe Calderon has initiated talks with Panama regarding a free trade agreement that has been awaited for a long time.
29/02/2008
Panama's long-term sovereign credit rating has been raised by Standard and Poor's to BB+ from BB. This new rating is based on strong economic growth of Panama and continued improvement in fiscal health of its government.
19/11/2007
Recently, a new law was passed by Panama's National Assembly to give multinational companies that perform certain tasks a significant tax break. As a result, according to a company specialising in investment property in Panama, the country's real estate sector is expected to experience an unprecedented boost.
19/09/2007
The WTO has announced completing a Trade Policy Review of Panama and published the results of the review. The report suggested that the rationalization of assistance programmes and the simplification of the trade regime would help Panama to sustain the economic growth.
22/08/2007
Economic growth in Panama is expected to exceed last year's 8.1% because of a strong investment climate, a dynamic services sector and the Panama Canal expansion programme.
03/07/2007
The Trade Promotion Agreement has been signed by Panama and the United States to eliminate tariffs and other barriers to the trade in goods and services between Panama and the US.
21/03/2007
The Panama Canal Authority (ACP) held a public hearing in Balboa, Panama, with the participation of fourteen representatives from shipping and government.
11/01/2007
Panama banks Banco General and Banco Continental have come to the agreement to merge. This merger will create one of the largest financial services companies in the region. The merger is expected to close during 2007.
07/11/2006
Panama hopes to become Argentina's replacement on the UN Security Council after Latin American and Caribbean Group (GRULAC) of the UN Security Council delayed as far as some English-speaking Caribbean members were reportedly upset about not being adequately involved in this process.
08/09/2006
At a meeting of Panama's President and Executive President of the Central American Bank for Economic Integration (CABEI) agreed that by the end of 2006 Panama will become an 'extra-regional' partner of CABEI. This status will provide Panama with the access of funding of about USD 60 million.
28/06/2006
Chile and Panama signed the free trade agreement that opens up 92.5% of the Chilean economy to Panamanian producers. Now most Panamanian products will enjoy a zero tariff when entering Chile's market.