Corporate Structures

Are you looking for an effective corporate solution? Open a virtual office in Panama!

8/15/2023 8:00:00 AM
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The question of how to reduce business expenses concerns us all, especially those of us who are dedicated to corporate legal services. An IBC, LLC, or sole proprietorship can be an excellent vehicle to turn our ideas into actual services or products. Corporate structures in Panama follow the same principle as they provide an array of benefits. Today, Mundo presents an excellent way to save money for your company.

Open a virtual office and say goodbye to unnecessary expenses

Today’s economic environment is not getting any easier, especially in a post-covid world, which makes budget management more important than ever. With our corporate legal services, we offer the opportunity to open a virtual office and thus cut expenses avoiding paying rent, maintenance, and cleaning services. Moreover, this is perfectly legal, and it comes with benefits. Panama corporate law encompasses a wide range of structures: Sociedad anonima, foreign sociedad anonima, SRL (LLC), and limited partnerships.

Moreover, the country offers ideal options when it comes to Panama business registration. Here, individuals can open companies swiftly and safely within a three-to-five-day period. Local legislation allows both natural and legal persons to conduct business in the country. Thus, natural persons will be identified by their local ID, also known as “cedula”. On the other hand, legal persons will be identified through an RUC number, i.e., a tax ID. Any legal entity to be registered in Panama needs to be verified by a public notary and then be properly filed in the public registry. 

With this, the company owner will be able to operate and enjoy the advantages of Panama as a business destination. At some point, the person will probably wonder how to reduce business expenses, and this is when they should open a virtual office to optimize their corporate structures in Panama.

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Guide to opening a virtual office in the land of Birds and Butterflies

The first thing to consider in this guide is why you need an office and why affordable virtual offices in Panama can be an interesting solution. Every corporation conducting business in the country must have a local address while complying with requirements like tax returns, financial statements preparation, and bookkeeping. Fortunately, by getting the right corporate legal services you'll obtain the best advice possible and you'll know that a public accountant can help you with all this paperwork. 

When it comes to your address, this is a key requirement to get your tax number, receive government notifications, and manage clients’ requests. For this, the local registry address is not enough, thus the best alternative is to open a virtual office. 

This will give you the address that you need while keeping expenses down and still maintaining a good reputation. Top corporate services providers will give you a good guide to opening a virtual office and, in many cases, the services include a landline. Let clients find your phone number on your website or social pages and appoint a person to answer the phone at your virtual office. This will help create brand awareness and provide a sense of confidence that will encourage clients to purchase your product or service.

Disclaimer: This article provides general information on Panama companies; however, it should not be considered legal advice. Before incorporating a legal entity, make sure to consult with a corporate expert. 

How can Mundo help you get Panama virtual office services

We are in touch with the best experts in the region who have wide and long experience working in every aspect of Panama corporate law, immigration, banking, and even real estate. We have an office in Panama and a large part of our team lives or has lived here at some point, which means that they can give you the most accurate advice.

If you're wondering how to reduce business expenses, add a virtual office to your list of options and find ways to establish one. There's no reason to keep a brick-and-mortar venue that requires maintenance, cleaning personnel, utility expenses, and, in many cases, involves rental contracts and costs.

This guide to opening a virtual office shows us that all you need is somebody answering the phone and a local address that you can use for your legal processes. All this can be done while keeping an open communication path with your clients.

If you have any doubts about the benefits of this approach, don't hesitate to contact your representatives at Mundo. Both the editorial team and the experts will be happy to assist you.

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