Panama is a country on the isthmus linking Central and South America. The Panama Canal, a famous feat of human engineering, cuts through its centre, linking the Atlantic and Pacific oceans to create an essential shipping route. In the capital, Panama City, modern skyscrapers, casinos and nightclubs contrast with colonial buildings in the Casco Viejo district and the rainforest of Natural Metropolitan Park.
Population: 4,058,374 (2016)
Capital: Panama City
Currency: Balboa (PAB) & USD dollar
|Services Included||Year 1||Year 2 onwards|
|Corporate Domicile||£550 annual|
|Government Fee||$375 annual|
|Director & Nominee Service||Optional Extra||Optional Extra|
|Estimated renewal costs in year two: £1,200.00|
Details of Exempt Non-Resident Corporation:
|Minimum number of directors||3|
|Local registered office required||Yes|
|Local company secretary required||Yes|
|Local company director required||No|
|Public register of beneficial owners||No|
|Public register of directors||No|
|Taxation on profits derived outside Panama*||Nil|
|Annual tax return required||No|
|Annual submission of accounts required||No|
|Corporate director permitted||Yes|
|Annual general meeting required||No|
|Annual general meeting location||Anywhere if held|
|Minimum paid share capital||$1|
*This does not remove tax liability for profits in the country in which they have been obtained.
Please note that information given on this page is subject to change at any time without notice as a consequence of changes made in local legislation.
A member of the banking team will be able to advise on the most suitable offshore bank account.
A Panama corporation needs to also appoint three officers, a president, a secretary and a treasurer.