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Panama Offshore Company Formation

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.

Country: Panama
Population: 4,058,374 (2016)
Capital: Panama City
Currency: Balboa (PAB) & USD dollar
Language: Spanish

Panama Offshore Company Formation £1340.00 + Vat
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Services Included Year 1 Year 2 onwards
Incorporation N/A
Corporate Structuring N/A
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.

Banking

A member of the banking team will be able to advise on the most suitable offshore bank account.

Additional Information

A Panama corporation needs to also appoint three officers, a president, a secretary and a treasurer.

Turner Little and its affiliates do not provide tax, legal or accounting advice. Material on this page has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for, tax, legal or accounting advice. You should consult your own tax, legal and accounting advisors before engaging in any transaction.