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.

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.

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.

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.

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.

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.

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.

Normally, corporate charters are "�standard"�, except in those cases where a special structure is requested.

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.