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A.
GENERAL INFORMATION
- Registration: Incorporation by agents is mandatoryThese must be local residents and authorised under licence.
- Type of Company: Non resident
- Legislative source: The Corporation Statute Law 32 of the 1927 Commercial Code
- Authorised suffixes: Sa. Corp……
- Duration of incorporation: 3 days
B.
TAX
- Government taxes: Minimum 250 USD
- Company taxes: No
- Capital gains on yielded subsidiary securities: No
- Retained at source for dividends/interestsroyalties paid by the company: No
- Taxation of royalties received by the company: No
- Fiscal convention: No
C.
LEGAL CHARACTERISTICS
- Number of directors: Minimum 3, no restriction with regard to nationality
- Company requiring director: Not recommended
- Director local resident: No
- Secretary required: Yes
- Company requiring secretary: Not recommended
- Secretary local resident: optionnel
- Minimum number of shareholders: 1
- Standard Issued capital: 10.000 USD
- Bearer shares possible: Yes
- Type of shares: Anonymous
D.
MANDATORY LOCAL REPRESENTATION
- Local head office: Required by law
- Local agent/secretary: Required by law
E. STATUTORY AND BENEFICIARY INFORMATION
- Public information: Head office, local agent, director
- Disclosure of economic beneficiaries: Optional
- Information on statutory modifications: Yes
F. ACCOUNTING - ANNUAL ACCOUNTS
G.
PROHIBITED
- Trading as a bank without a licence
- Trading as an insurer or re-insurer without a licence
- Having an activity in Panama (with the exception of re-insurance companies)
H.
MANDATORY
- Have a head office in Panama
- In order to benefit from the fiscal advantages the owner must be non-resident
- Hold an annual general assembly
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