OFFSHORE CORPORATIONS OR COMPANIES IN PANAMA
Law N° 32 of February 26, 1927 requires for the constitution or incorporation of a company or an offshore corporation, the agreement of two (2) or more persons of legal age, of any nationality, even if they are not domiciled in the Republic of Panama.
Our office provides the service of Corporate Charter subscribers, without any additional cost.
Offshore Corporations and Private Interest Foundations can be constituted from the place where you are, without the need for you to travel to our country.
For their existence, Panamanian Corporations do not require any capital advances before or after constitution.
Shares of corporations can be nominative or bearer and the shareholders of the Corporation can be conformed by natural persons or other corporations, be it national or foreign, one or more persons being able to be titleholders, and not needing to be present nor residing in the Republic of Panama.
Organization of a Company or Offshore Corporation in Panama
Offshore corporations, as they are also known, are organized in accordance to a constitution document denominated Corporate Charter, which must be duly notarized and registered in the Mercantile Section of the Public Registry of Panama.
The Corporate Charter of Corporations must, among other things, contain the following:
» The name of the corporation
» Name and domicile of the subscribers
» Business in which the corporation can engage in
» Authorized capital, amount, share distribution and share types
» The duration of the corporation
» Name and address of directors and dignitaries
» Name of the resident agent
Additional to the Corporate Charter of the Corporations, it is necessary to include the Share Registry, preferably duly authenticated.
Corporations which will not engage in commerce in the Republic of Panama, do no require commercial licenses to operate outside the territory of the Republic of Panama, for this reason they are called "Offshore" Corporations.
Names of a Corporation and / or Private Interest Foundation in Panama
Offshore corporations require of a name to identify and individualize them. This name must be available at the Public Registry of Panama.
Our company will verify the availability of names for Corporations as well as Foundations, as part of the constitution services of the corporation, reason why we request you provide us with three (3) possible names, in order of preference, in order to inform you the availability of same.
Social or Foundational Objective
Corporations can have any licit objective and engage in any commercial activity. A Standard Corporate Charter establishes a generic social objective, which allows the corporation to engage in any licit activity. However, the ordering party can request the expansion of the Social Objective and specify any activity he wishes.
Social or Foundational Capital
Companies or offshore corporations do not require their Nominal Capital to be paid in at the moment of constitution of the corporation, nor are deposits of any kind required. It is sufficient that the subscribers subscribe to one share, even if they subsequently renounce said share.
The corporations we have to offer have a nominal capital of USD. 10,000.00, which can be increased depending on the wishes of our clients, if and when the additional cost of the registration fee generated by this increase is paid.
Shares (only for Corporations)
The shares of a corporation can be nominative or bearer. In the event the corporation was to carry out commercial activities in Panama, the Law frequently demands the shares to be nominative. In other jurisdictions, bearer shares are restricted or simply not admitted.
Bearer shares grant the proprietor of the corporation a higher level of confidentiality. As a rule, a General Power of Attorney and Nominative Directors accompany bearer shares.
Distribution of Shares (only for Corporations)
The distribution of shares does not require registration in the Public Registry of Panama. The distribution of shares is recorded in the Register of Shares Book of the Corporation and depends on the clients instructions.
Directors and Dignitaries
The Client can freely appoint directors and dignitaries of the corporation, but can also decide to appoint Nominal Directors, proposed by our Law firm, in which case a corresponding fee will apply.
Corporate Charter or Foundational Act
Normally, corporate charters are "standard", except in those cases where a special structure is requested.
Constitution Period and Remittance of a Company or an Offshore Corporation in Panama
An Offshore Corporation can be constituted in an average period that ranges from 48 to 72 hours, if and when we have the necessary information and the corresponding payment has been carried out.
The remittance period will depend on the place and the availability of the service provided by FEDEX or DHL. Remittance takes place generally from 5 to 7 working days after the confirmation of payment has been received.
STEPS TO CONSTITUTE A COMPANY OR AN OFFSHORE CORPORATION IN PANAMA
To create a corporation is easy, but time must be taken to clarify ideas and to communicate them to us to better serve you.
The formation process of a Corporation or a Foundation is easy and fast:
1-Fill the attached forms, as well as the
sworn declaration included with same
2-Resend the forms with a copy of your
3- Once we receive the forms and the
passport copies of the shareholders and directors, we will proceed to prepare a budget adjusted to your services request
4- Approval of the budget presented
5- Carry out payment
6- Registration of the Corporation
7- Remittance of package via DHL or FEDEX
to the addressee / ordering party or owner of the Corporation
Any additional need regarding the requested services, we will gladly take care of, since the consulting related to corporations, is included within the cost of the service.