There are many reasons why an overseas company can bring us benefits. For starters, these jurisdictions usually have convenient financial incentives and reduced tax rates. They are usually small countries with stable economies and pro-business governments that offer investment opportunities for business people around the world. 

Offshore accounting and substance 

However, these nations are not as flexible as they used to be. While they maintain a higher level of flexibility when compared to large big-brother governments, the introduction of substance regulations has resulted in tougher conditions. 

In other words, “offshore” companies now must prove that they have meaningful economic ties and activities in the country of registration. Thus, requirements for local employees, physical offices, and bookkeeping for offshore companies must be met. The detailed requirements depend on the jurisdiction but are pretty much the above-mentioned ones. 

Does this mean that the offshore world is over? Not necessarily: the only difference regarding the old offshore hubs is that now you have to comply with more regulations, but the benefits are still there. 

Accounting services in Panama 

The secret to running a successful company overseas lies in your provider. Since November 2021, Panama has modified the IBC legislation to add more restrictions that prevent money laundering. This includes offshore accounting. Now, financial statements for IBCs are mandatory. Companies in Panama must keep accounting records that reflect the activities of the entity, including the assets that it holds, and the income it receives. 

Luckily, our Mundo experts have wide experience working with companies registered in this country and can provide solid accounting for a company in Panama. 

Accounting for a company in Panama with Mundo 

Small companies (1 to 30 operations a year)

The price is $3,550 and it includes personal and corporate tax declarations, municipal declarations, VAT (only for companies whose income is over 36,000), and accounting bookkeeping*.

Middle-sized companies (1 to 100 operations a year)

The price is $3750 and includes all the above. 

Large companies (1 to 600 operations a year)

The price is $6750 and includes all the above. 

Mundo also provides other services like financial statements for dormant companies ($600), audited financial statements ($2000), Financial statements for Panama company signed by CPA ($1000), cash flow protection ($300), RUC ($300), reference letter ($150).

*For prices of each service separately please contact our experts 

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Accounting services in Panama: why us?

Mundo was born from a fiduciary firm founded in 1994. For almost 30 years, this company has provided top trustee services on the island of Nevis and has become one of the most reputable CBI providers in the Caribbean and Vanuatu. 

Mundo was created to support this firm and to be its portal to the world. Originally published only in Spanish, Mundo has grown to gather more followers, readers, and providers. Now, we have a unique interactive portal in four languages, and we managed to expand our network of partners.

With this reputation to back us up and our own innovative views and nomad capitalist philosophy, Mundo is one of the top financial publications for international business.

Moreover, our office in Panama has some of the best experts in the industry. Some of them are foreigners themselves, which means they have first-hand experience when it comes to residency, corporate services, and accounting in Panama.

It’s better to err on the side of caution and provide yourself with the best accounting for a company in Panama. Contact us and schedule your first consultation.

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