set up a company in panama

Incorporate in Panama

$2,150.00

Set up a Panama company limited by shares

Panama is an international trade and financial center strategically located between the Americas. Its politically stable environment, its pro-business legislation, its attractive tax regime, and its developed and large banking sector have made Panama one of the most popular jurisdiction to establish international companies.

Panama levies taxation in a territorial basis, hence corporations in Panama that exclusively conducts its business outside of Panama, are exempt from all local taxes including income tax, capital gains tax, withholding taxes, and stamp duty on transfer of corporate shares, and other property. Furthermore, interest paid by local banks are tax-exempt and there are no foreign exchange controls.

Panama corporations are commonly used for residency visas, international tax structuring, international commercial transactions, banking, and merchant account access, e-commerce and internet services, trading, asset management or as a holding company.

Learn more about incorporating in Panama:

Friendly Nations Visa (Permanent Residency)

Launched in 2012 to attract foreign capital and immigration to Panama, the Friendly Nations Visa grants individuals who set up a business in Panama a permanent residency permit.

Foreign-nationals of the following countries are eligible for the Friendly Nations Visa:
Andorra, Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, Costa Rica, Croatia, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hong Kong, Hungary, Ireland, Israel, Japan, Latvia, Liechtenstein, Lithuania, Luxembourg, Malta, Mexico, Monaco, Montenegro, Netherlands, New Zealand, Norway, Paraguay, Poland, Portugal, San Marino, Serbia, Singapore, Slovakia, Spain, South Africa, South Korea, Sweden, Switzerland, Taiwan, United States of America, Uruguay and United Kingdom.

Panama Corporation (SA) Formation and First-Year Fees – USD 2,150.00 (All Included)

Note that our incorporation and annual corporate service fees are “all-included fees”, and cover all the required services to incorporate a Corporation in Panama, and keep it in good standing, as well as government fees and duties, disbursements such as courier fees, and assignments such as the preparation of a certificate of incumbency, and the notarization of documents, which are generally required for opening bank accounts.

  • All applicable Registration and Government Fees (Registro Publico)
  • Preparing the Incorporation Deed and Articles of Incorporation (Spanish)
  • Acting as the First Subscriber and executing the Incorporation Deed before Notary
  • All applicable Notary Fees
  • Filing the Incorporation’s Notarial Deed with the Commercial Register
  • Preparing Subscriber’s Resolution for the Appointment of Directors and Resignation of Subscriber’s Rights
  • Preparing the Company Bylaws
  • Providing the Certificate of Juristic Person, and Company Extract issued by the Registro Publico
  • Providing a Certified English Translation of the Corporate Documents
  • Preparing the First Board Meeting Minutes for the allotment of Shares, the Appointment of Directors, Registered Agent and office, and other related matters
  • Preparing the Share Register Book
  • Preparing the Share Certificates
  • Preparing and executing a Certificate of Incumbency
  • Providing Registered Office Services, including business address, for one year
  • Providing Registered Agent Services for one year
  • Providing Notarized and Apostilled copies of the Corporate Documents
  • Delivering Original, and Notarized and Apostilled copies of the Corporate Documents via Courier, inclusive of Courier fees

Time to form

It generally takes us 1-3 days to prepare the incorporation documents, executing them as a deed before Notary, and file them with the Registro Publico. Once the company is filed, it takes from 1 to 5 business days for the Registrar to release stamped incorporation documents and issue the Certificate of Juristic Person and related documents.

Nominee Services (Optional)

All Panamanian Corporations are required to have at least 3 directors/officers (President, Treasurer, and Secretary). Officers’ details are available for public inspection in the public registry. Most clients opt to appoint from one to three Nominee Directors to fulfill the aforementioned positions.

  • One Nominee Director (Natural Person) – USD 700.00 p.a.*
  • Two Nominee Directors (Natural Persons) – USD 1,200.00 p.a.*
  • Three Nominee Directors (Natural Persons) – USD 1,500.00 p.a., including Notarized and Apostilled Power of Attorney

*If the client wishes to appoint one or two Nominee Directors, we assume that a Notarized and Apostilled Power of Attorney shall not be required.

Bank Account Opening Services (Optional)

We can open bank accounts for Panamanian corporations in the following jurisdictions:

  • Panama Bank Account (1 Bank Remotely, 2 Banks In-person) – USD 1,200.00 – Debit/Credit Cards Available
  • Cayman Islands Bank Account (5 Banks, Remotely) – USD 900.00 – Brokerage Accounts and Debit/Credit Cards Available
  • British Virgin Islands Bank Account (1 Bank, Remotely) – USD 900.00 – Brokerage Accounts Available
  • Mauritius Bank Account (3 Banks, Remotely) – USD 600.00 – Debit/Credit Cards Available
  • Labuan Bank Account (1 Bank Remotely) – USD 500.00
  • Bahamas Bank Account (4 Banks, Remotely) – USD 500.00 – Brokerage Accounts Available
  • Curaçao Bank Account (2 Banks, Remotely) – USD 500.00 – Debit/Credit Cards Available
  • Singapore Bank Account (5 Banks, Remotely) – USD 900.00 – Debit/Credit Cards Available – Remote account opening available due to COVID-19
  • Hong Kong Bank Account (3 Banks, In-person) – USD 2,000.00 – Debit/Credit Cards Available
  • Armenia Bank Account (1 Bank, Remotely) – USD 1,200.00 – Debit/Credit Cards and Brokerage Accounts Available
  • Turkey Bank Account (1 Bank, Remotely) – USD 1,200.00 – Debit/Credit Cards and Brokerage Accounts Available
  • Cook Islands Bank Account (1 Bank, Remotely) – USD 600.00 – Brokerage Accounts available
  • Puerto Rico Bank Account (2 Banks, Remotely) – USD 300.00 – Debit/Credit Cards Available and Brokerage Accounts available
  • Antigua Bank Account (2 Banks, Remotely) – USD 300.00 – Debit/Credit Cards Available
  • Nevis Bank Account (1 Bank, Remotely) – USD 300.00 – Debit/Credit Cards Available
  • Belize Bank Account (1 Bank, Remotely) – USD 300.00 – Prepaid Cards Available
  • Saint Lucia Bank Account (1 Bank, Remotely) – USD 300.00
  • Dominica Bank Account (2 Banks, Remotely) – USD 300.00 – Debit/Credit Cards Available

All our bank account options provide for accounts in major currencies (USD, EUR, GBP, CHF, etc) as well as internet banking facilities. Note that “Remotely/In-person” means whether the account can be opened remotely or a personal visit to the bank is required to finalize the application.

Our bank account opening service is not just a mere introduction to the bank. We assist you in filling out the business plan forms appropriately and help you understand and provide business details, commercial information, and purpose/use of the bank account that a given bank wants to know in order to approve your account application.

Banks want certainty and clarity on how the account will be used. Everything must be watertight. We will work with you to make sure there is minimal ‘back and forth’ and a smooth account opening process.

Panama Company Annual Fees – USD 1,600.00 (payable one year after incorporation, and annually thereafter)

  • Annual Government Franchise Tax
  • Maintaining Minute Book, Registers and Statutory Records
  • Providing Registered Office Services, including business address, for one year
  • Providing Registered Agent Services for one year
  • Providing a Certificate of Good Standing

Other Services (Optional)

  • Establishment and maintenance of Private Interest Foundations, and provision of Council Members (either Nominees or Executive Managers)
  • Establishment of Financial Services Companies, and Private Funds (20-PF or 50-PF)
  • Assistance with establishing Economic Substance in Panama (Physical Office, Employees, etc)
  • Opening of Merchant Accounts for E-commerce businesses
  • Obtaining Operations Notice (Aviso de Operación) for companies with a physical presence in Panama
  • Registration with Municipal Authorities (Panama City, Colon) for companies with a physical presence in Panama
  • Accounting and Tax Services. Note that tax filings are required for companies with a physical presence in Panama and/or carrying on certain business activities with residents

Please, contact us for further information.

Panama Permanent Residency (Friendly Nations Visa) – USD 3,500.00 (All Included)

To qualify for Permanent Residency, you will first need to show that you conduct some professional or economic activity in the country. This can be done by being hired as an employee for a Panama corporation or directly incorporating and operating with a company. While there is no requirement for this company to have any employees, it cannot be a dormant entity and must show some degree of activity. It is up to the authorities to determine if a company’s activities are adequate, however, officials tend to be quite lenient on this.

Next, you will have to prove that you are economically solvent by depositing USD 5,000 in a Panamanian bank account. If you have dependents who are also applying for the visa, you will have to deposit USD 2,000 per dependent. Dependents include the applicant’s spouse, and children under 18 years of age, or 25 if they are full-time university students.

You will receive a temporary residency card, which is valid for one year, while your application is under review. Once it is approved, you will get a permanent residency card and you will be allowed to apply for a work permit.

Our fees are “all-included fees”, and cover all the required steps and services for obtaining Permanent residency in Panama.

  • Assisting with preparing the required documentation for applying for the visa
  • Assisting with opening a Personal Bank Account in Panama
  • Obtaining Notice of Operations for the Company
  • Guiding and accompanying the client for passport registration with the Immigration office
  • Preparing the full residency application package for submission with the Immigration Office
  • Submitting the residency application with the Immigration office
  • Guiding and accompanying the client to the Immigration Office for receiving the temporary card
  • Applying for and obtaining multiple-entry/exit visa on behalf of the client
  • Providing certified translation to Spanish of the relevant documents, as required
  • Following up with the immigration office during the residency approval
  • Assisting with applying for and obtaining the permanent residence card

Step 1
Opening a personal bank account. You have two options:

  • Opening a Personal Bank Account – The minimum deposit is USD 5,000 and you will have to travel to Panama to open. You should plan to be in Panama for 2-3 business days.
  • Opening Private Banking Account – The minimum deposit is USD 20,000. The account opening can be carried on remotely without needing to personally visit the bank branch.

It takes around 3-5 weeks to open a personal bank account (either option).

Step 2 
Incorporating a Panama company, which takes 2-8 business days.

If you want to open a corporate bank account, this can either be set up remotely (if Private Banking option is chosen) or upon your visit to start the Friendly Nations Visa Program.

Step 3
Once the bank account is opened, you can travel to Panama to fill out the initial Friendly Nations Visa (Permanent Residency) application forms and file the required documents. You will get a Temporary Residency Permit. This step will take at least 8 business days.

Step 4
After 3-4 months, you will need to travel to Panama (if you are not there) to receive the Permanent Residency status. This step usually takes 2-3 days.

Step 5 
After another 3 months, you will need to travel to Panama (if you are not there) to receive your Panama Cedula  (ID Card) and conclude the process.

The whole permanent residency process takes approximately 10-12 months. However, you can freely travel in and out of Panama and establish there, after receiving temporary residency (Step 3).

Nominee Services

Panama Friendly Nations Visa

Please select this option if you wish to obtain Permanent Residency in Panama

SKU: INC-PA-001 Category:
Cart

No products in the cart.