Corporate Structures

Upgrade Your Business with a Virtual Office in Panama: The Ultimate Solution for Remote Work

4/10/2023 8:00:00 AM
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During the lockdowns, we've all understood the benefits of remote work. In our days, more and more processes are being carried out online, whether at a state or private level. In this context, it's not surprising that virtual office services are thriving. Also, they bring many benefits and help you lower your costs. 

If you're looking for business solutions in Panama and want to open a company, you'll be surprised by all the benefits that you’ll find here. Today, Mundo presents the possibility to create a virtual office in Panama that helps you access the best of the digital world while keeping your corporation in compliance.

Why open a virtual office in Panama

The benefits of a virtual office are many. Besides being the ultimate solution for remote work, they bring interesting advantages when it comes to legal processes. All in all, a virtual office in Panama can give you everything its brick-and-mortar counterpart would provide but at a much lower cost. Check out the benefits of getting virtual office services.

Have an address in the said country without extremely high costs

For starters, a virtual office grants you a local address without the extra expenses that a brick-and-mortar venue demands. Even if it's not physical, the virtual office allows you to receive letters and notifications from local authorities.

You’ll find that it’s vital to have a local phone number where you can get government notifications regarding the legal status of your company. This is the type of message that you don't want to miss, and virtual address rental is a great solution. 

In many cases, the company provides the address of the registered agent for this purpose, nonetheless, this is not the best option because this address must be used exclusively for government notices. It’s essential to understand that the registered agent is not obligated to answer commercial consultations. You’ll find that the benefits of a virtual office encompass much more than receiving notifications. 

Give your customers the attention they deserve 

When it comes to substance, it's a whole new story. All companies that conduct their activities in Panama must have an office, and a virtual office service provider is a good alternative. For certain types of goods, you must get a physical space but, when it comes to online purchases or consultancy services, a virtual office in Panama will work just fine. One alternative is to provide your own residential address, but this will affect your privacy. Besides being the ultimate solution for remote work, these offices will help you keep your personal life protected and separated from your business. 

Your interactions with your customers need a space where they can be. For example, clients can't call the registered agent to ask for the company's information or to find out about the services and activities of the said company. If the agent would give this information away, they would be breaching the law. They can't share confidential information and only answer to local authorities every time there's a legal issue or special request.

Remember that the main responsibility of the registered agent is to keep registries of the directors, shareholders, and officers, provide advice regarding the legal aspects of the structure, keep copies of the accounting records, and comply with due diligence.

All in all, if you're wondering why open a virtual office in Panama, remember that this address will give you a better reputation, a solid image, and wider visibility within your market. 

Get all the corresponding licenses

In order to get an “aviso de operaciones”, which is the basic license that you must get to operate a commercial business, you need at least a virtual office in Panama.

The benefits of a virtual office in Panama will change your life for good. When you ask for your tax number, the address might be a key factor. If your entity doesn’t have any operations or if it operates outside of Panama, your agent will serve as your official address. Nonetheless, entities that operate domestically need to have their own address which can be either a physical or a virtual one. All in all, virtual address rental is a great alternative if you’re looking for business solutions in Panama. Also, domestic-operating companies will need a CPA who will also be responsible for the bookkeeping, preparation of financial statements, and/or submitting tax returns.

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Other Mundo services

With our virtual office services, we provide a local landline (not a cell phone). This is included in the price for a year after which you need to renew the benefit by paying the corresponding fee.

Another thing we can include in your package is the company's logo. If you want to create brand awareness, it's vital that your customers are always in touch with your marketing elements. Thus, you can add this to the benefits of a virtual office: your client will see your logo on the main screen. 

Connect with your partners in person in the city center

With the correct virtual office package, you can access certain discounts to use the meeting rooms. Moreover, the venues are located in a strategic area, the banking district, to be more specific. This area is easily accessible from all the corners of Panama, so it will be easy for people to attend.

Also, Mundo offers the ultimate solution for remote work at accessible prices through our virtual office services. Some of our extra services include printing and scanning documents so that you can get your paperwork done easily while saving money. You can also enjoy a 20% annual discount if you decide to renew your package on a yearly basis. 

Panama: the best location for your business

If you’ve ever wondered how Panama was able to grow from having a simple infrastructure to a world-class center, you probably haven’t heard this story yet. Since the local government started to manage the Panama Canal, everything has been going smoothly for this country. 

Moreover, the government was smart enough to support this process with business-friendly policies that include free zone regimes. These offer tax incentives and exemptions to companies under certain conditions, i.e., where are they located, what types of services they offer, how many employees they have, etc. 

The banking sector has also developed to accompany this growth. For 20 years already, the country has been receiving foreign companies that are either established in Panama or simply do business here. Since this has brought lots of foreigners into the country, who not necessarily have settled down here, the banking sector had to develop to cover their needs. As a result, the most important banks have excellent online platforms for people that live abroad or that travel often. 

Panama’s real estate market has developed accordingly. There are plenty of properties that you can use for residency purposes, rental, or business. We’re talking about first-class real estate with state-of-the-art facilities. Naturally, there are different options but, in general, they include, a social area, amenities, a gym, a business lounge, water tanks, emergency power plants, and a pool. The units have fine embellishments and equipment to fit the needs of any modern family. 

Throughout these 20 years, Panama has received lots of ex-pats that now are happy to call Panama their home. This translates into fine international cuisine, excellent gastronomy, high-level international bilingual schools, luxury stores, and plenty of entertainment options.

Find the best business solutions in Panama through virtual office rental

Remote work is becoming more and more popular not only in Panama but the world, and a good virtual office service provider can help you put together a virtual space for your staff. But this is by far not the main reason why someone should establish a virtual office in Panama.

In essence, this service is about getting everything you need from a commercial point of view while keeping practicality and cost-effectiveness as priorities.

An address with your registered agent is only useful when it comes to receiving official notifications and getting a tax number as long as you don’t have operations in Panama. Nonetheless, to interact with your customers, or obtain a commercial license, you'll need a virtual office in Panama.

If you want to know more about offices in Panama, you can browse our Mundo.Expert platform and write to us. Our team has lots of experience in opening corporations all over the world and Panama is one of our specialties. Embrace the benefits of a virtual office in Panama with Mundo.

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