Panama company $2,065
This product stands out from all Mundo’s services and offers. There are different corporate jurisdictions around the world but this one has certain characteristics that can’t be overlooked. Registering a company in Panama gives you access to a stable financial environment, a reputable jurisdiction, and a trade hub. Besides, its strategic location makes it the ideal option for businessmen around the world: Panama is easily accessible from Latin America, the United States, and Europe.
Incorporate in Panama: advantages
As the home of the Panama Canal, Panama’s history is strongly tied to business development. This country has had many pro-business governments that boosted the economy and provided solid financial frameworks. Thus, Panama company formation has become accessible and profitable.
The said tendency has been particularly clear and strong for the past 20 years after Panama got the administration of the canal. Since then, we have seen this city grow from a small rural town to a world-class center. This resulted in improved infrastructure, the creation of international schools, and a boom in the real estate market.
Panama company registration becomes more attractive when you consider the tax advantages it brings. Our favorite one is that the country has a territorial taxation regime. In simple words, this means that companies are not taxable for the income generated abroad. This makes Panama the perfect soil for international companies to grow. Many of them establish their operational centers here to reduce the tax burden.
Moreover, the country has established free economic zones for registering a company in Panama. These come with important benefits like the simplification of work visas and tax incentives.
The local currency is the Balboa which has a 1:1 exchange rate with the US dollar. Actually, the Balboa is only issued in coins and the USD is the legal tender being used for transactions in everyday life.
International companies should not overlook this fact as it simplifies international transactions. You won’t have to pay exchange rates nor be subject to exchange restrictions.
Flexibility and straightforwardness
Setting up a company in Panama brings many advantages, and simplicity is one of them. Its flexible corporate legislation makes it ideal for offshore companies. For instance, there are no restrictions regarding the share capital, and paid-up capital is not mandatory. These structures allow for all kinds of shares: voting, non-voting, and per-value shares. In line with this, the company’s key players can live in any country and have any nationality. This applies to shareholders, directors, and officers.
When it comes to banking, Panama is the best sector in the region. It works under the principles of Basel and has over 90 institutions including foreign banks. Since it doesn’t have a central bank, the sector is regulated by the National Banking Commission, which recorded profits of 1.8 billion dollars in 2017. The commission is responsible for the fast growth of the industry which was supported by excellent services and state-of-the-art technology. Needless to say that online banking is top-notch which makes it really easy to manage accounts from abroad. Account-holders can transfer, check their balances, and invest even if they are not in Panama at that moment.
Incorporate in Panama: Prices
Basic incorporation: $2,065
Standard incorporation: $2,815
Basic incorporation includes:
- Articles of Incorporation
- English Translation of Articles of Incorporation
- Good Standing Certificate
- Minutes Issuing Shares
- Share Certificates
- Minutes of Accounting Records
- Share Register Book
- Certificate of Incumbency
- Resignation of the Subscribers
Standard incorporation includes:
Basic package plus:
- Nominee Directors for Panama Company (3 physical persons/one year) incl. simple copies of IDs and utility bills
- Apostilled Power of Attorney
Incorporate in Panama: Requirements
1. Certified copies of the passports of shareholders and directors.
2. Certified copy of a utility bill from shareholders and directors.
3. Proof of funds which can be:
a. Latest income tax returns.
b. Financial reports by a certified accountant
c. Bank references where account balances are stated.
4. Professional reference by a lawyer or accountant.
5. Bank reference
6. Curriculum Vitae
7. Fill out the attached forms.
Why us: Setting up a company in Panama with Mundo
Our experts have wide experience in Panama company formation. We have an office in Panama that has been settled there for over 5 years. This means that we have lawyers and financial advisors that live and work in the country. This gives Mundo an advantage as we can provide comprehensive services with deep knowledge of the environment, regulations, and the country. Contact us now for more information on Panama company registration.
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