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Panama – How to Form an
Offshore Company in Panama?
www.bizlatinhub.com
ABOUT US
The Biz Latin Hub Group was established in 2014 to
assist both local and foreign companies doing business
in Latin America, by providing a full suite of multilingual
Commercial Representation and Back Office Services.
The group is owned and managed by an experienced
team of local and expat professionals, dedicated to
assisting clients to navigate their way through the
complexities of Latin American business environment.
www.bizlatinhub.com
www.bizlatinhub.com
What is an Offshore Company?
• Offshore companies, often called
international business companies,
are companies that do not conduct
substantial business activity (often
none) in the country in which they are
formed. Due to this, the companies are
not bound by the local tax jurisdictions.
• An offshore company is a business
strucutre that ensures effective wealth
managment. There are many negative
connoations that surround offshore
banking; most of which are untrue.
www.bizlatinhub.com
Why Should You Set Up an Offshore
Company in Belize?
• Straightforward set up process
• No income tax for income earned outside
of Panama
• High levels of assest protection
• Full confidentiality
www.bizlatinhub.com
7 Steps
www.bizlatinhub.com
Key Considerations When Forming a
Company in Panama
• Yes
Can Company Sponsor
Foreign Employees?
• Zero
Capital Controls
• 2-3 weeks
How Long Does It Take
(Including Bank Account)
• Panamanian Balboa
Currency
• 2
Min # of Shareholders
• Yes
Is Foreign Ownership
Allowed?
www.bizlatinhub.com
Step 1 – Choose the Type of Company
You Want to Form
Sociedad
Anonima
There are different kinds of companies
you can choose from to start your
business. The most common company
types used by foreign investors are:
• Sociedad Anonima
• Limited Liability
• Sociedad en Comandita
The majority of companies that are set up
in Panama are Sociedad Anonimas.
This presentation will outline the process
of setting up a:
www.bizlatinhub.com
Step 2 – Structure of the Company
Get the ball rolling…
• The client (or their legal representation)
will be required to fill in a Company
Incorporation Form with the following
information:
• Three (3) possible names of the
corporation; in order of preference
• Name(s) and address(es) of all of the
shareholders
• Names of the 3 mandatory members of
the Board of Directors/Officers; namely
the President, Secretary and Treasurer
• Physical address where corporate
documents will be sent.
www.bizlatinhub.com
Naming an Agent
• By law, every company must have a
resident or registered agent.
• The resident or registered agent is
normally a lawyer or a law firm in
charge of the legal representation of
the company in Panama.
• In addition, this person will be in
charge of paying the annual fees of the
company as required by law in
Panama.
Step 3 – Resident Agent
www.bizlatinhub.com
Step 4 – Certification of Incorporation and
Bylaws
Elaborating the Articles of
Incorporation…
The company representative will have to
organize the certification of the
incorporation and bylaws.
The corporation has the option to adopt
bylaws for the regulation of its internal
affairs and procedures.
www.bizlatinhub.com
Step 5 – Tax Registration
• Every Panamanian corporation has to
pay an annual tax for an amount of
US$300.00 imposed by law.
• The law requires corporations to pay
this amount in order to remain in good
standing. Good standing is taken to
mean having a valid registration at the
Public Registry of Panama.
• If the company is not involved in
business activities in the country for the
specific fiscal year (for example, when
it is solely used for holding assets),
formal tax registration is not required.
Paying annual tax to ensure good
standing...
www.bizlatinhub.com
Step 6 – Registration in Public Registry of
Panama
Once the tax registration is completed, you
will be able to obtain the registration of the
company in the Public Registry of
Panama.
One step closer to completing the
process…
www.bizlatinhub.com
Step 7 – Bank Account
Put the Champagne on Ice!
Finally, you will need to open a corporate
bank account to conclude the offshore
company formation process in Panama.
• Accounts are approved and opened
within two (2) weeks or less by the
bank’s compliance department,
depending on each financial institution.
• Once an account is approved and
opened by the bank, the client is
generally notified by e-mail of its
account number and asked to make
the initial deposit.
• Depending on the institution, these
deposits may range between
US$500.00 to US$3000.00.
Company formation process Panama?
CONTACT US
www.bizlatinhub.com
Buenos Aires – Argentina
Argentina@bizlatinhub.com
Panama City – Panama
Panama@bizlatinhub.com
Belize City – Belize
Belize@bizlatinhub.com
São Paulo – Brazil
Brazil@bizlatinhub.com
Guayaquil – Ecuador
Ecuador@bizlatinhub.com
Santiago – Chili
Chili@bizlatinhub.com
Bogotá – Colombia
Colombia@bizlatinhub.com
México City – México
Mexico@bizlatinhub.com
Lima – Peru
Peru@bizlatinhub.com
OUR SERVICES
www.bizlatinhub.com
• Commercial Representation Services
• Company Formation Services
• Visa Processing Services
• Accounting & Finance Services
• Legal Services
• Due Diligence Services
• IT Support Services
• Recruitment Services
RECENT ARTICLES
www.bizlatinhub.com
Biz Latin Hub Discuss
Growth with UK Trade
Commissioner and NZ
Ambassador
Biz Latin Hub Meets Up with
Costa Rican Ambassador to
Australia in Sydney
Can I Get a Visa in Colombia
by Investing in Property?

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Company formation process Panama?

  • 1. Panama – How to Form an Offshore Company in Panama? www.bizlatinhub.com
  • 2. ABOUT US The Biz Latin Hub Group was established in 2014 to assist both local and foreign companies doing business in Latin America, by providing a full suite of multilingual Commercial Representation and Back Office Services. The group is owned and managed by an experienced team of local and expat professionals, dedicated to assisting clients to navigate their way through the complexities of Latin American business environment. www.bizlatinhub.com
  • 3. www.bizlatinhub.com What is an Offshore Company? • Offshore companies, often called international business companies, are companies that do not conduct substantial business activity (often none) in the country in which they are formed. Due to this, the companies are not bound by the local tax jurisdictions. • An offshore company is a business strucutre that ensures effective wealth managment. There are many negative connoations that surround offshore banking; most of which are untrue.
  • 4. www.bizlatinhub.com Why Should You Set Up an Offshore Company in Belize? • Straightforward set up process • No income tax for income earned outside of Panama • High levels of assest protection • Full confidentiality
  • 6. www.bizlatinhub.com Key Considerations When Forming a Company in Panama • Yes Can Company Sponsor Foreign Employees? • Zero Capital Controls • 2-3 weeks How Long Does It Take (Including Bank Account) • Panamanian Balboa Currency • 2 Min # of Shareholders • Yes Is Foreign Ownership Allowed?
  • 7. www.bizlatinhub.com Step 1 – Choose the Type of Company You Want to Form Sociedad Anonima There are different kinds of companies you can choose from to start your business. The most common company types used by foreign investors are: • Sociedad Anonima • Limited Liability • Sociedad en Comandita The majority of companies that are set up in Panama are Sociedad Anonimas. This presentation will outline the process of setting up a:
  • 8. www.bizlatinhub.com Step 2 – Structure of the Company Get the ball rolling… • The client (or their legal representation) will be required to fill in a Company Incorporation Form with the following information: • Three (3) possible names of the corporation; in order of preference • Name(s) and address(es) of all of the shareholders • Names of the 3 mandatory members of the Board of Directors/Officers; namely the President, Secretary and Treasurer • Physical address where corporate documents will be sent.
  • 9. www.bizlatinhub.com Naming an Agent • By law, every company must have a resident or registered agent. • The resident or registered agent is normally a lawyer or a law firm in charge of the legal representation of the company in Panama. • In addition, this person will be in charge of paying the annual fees of the company as required by law in Panama. Step 3 – Resident Agent
  • 10. www.bizlatinhub.com Step 4 – Certification of Incorporation and Bylaws Elaborating the Articles of Incorporation… The company representative will have to organize the certification of the incorporation and bylaws. The corporation has the option to adopt bylaws for the regulation of its internal affairs and procedures.
  • 11. www.bizlatinhub.com Step 5 – Tax Registration • Every Panamanian corporation has to pay an annual tax for an amount of US$300.00 imposed by law. • The law requires corporations to pay this amount in order to remain in good standing. Good standing is taken to mean having a valid registration at the Public Registry of Panama. • If the company is not involved in business activities in the country for the specific fiscal year (for example, when it is solely used for holding assets), formal tax registration is not required. Paying annual tax to ensure good standing...
  • 12. www.bizlatinhub.com Step 6 – Registration in Public Registry of Panama Once the tax registration is completed, you will be able to obtain the registration of the company in the Public Registry of Panama. One step closer to completing the process…
  • 13. www.bizlatinhub.com Step 7 – Bank Account Put the Champagne on Ice! Finally, you will need to open a corporate bank account to conclude the offshore company formation process in Panama. • Accounts are approved and opened within two (2) weeks or less by the bank’s compliance department, depending on each financial institution. • Once an account is approved and opened by the bank, the client is generally notified by e-mail of its account number and asked to make the initial deposit. • Depending on the institution, these deposits may range between US$500.00 to US$3000.00.
  • 15. CONTACT US www.bizlatinhub.com Buenos Aires – Argentina Argentina@bizlatinhub.com Panama City – Panama Panama@bizlatinhub.com Belize City – Belize Belize@bizlatinhub.com São Paulo – Brazil Brazil@bizlatinhub.com Guayaquil – Ecuador Ecuador@bizlatinhub.com Santiago – Chili Chili@bizlatinhub.com Bogotá – Colombia Colombia@bizlatinhub.com México City – México Mexico@bizlatinhub.com Lima – Peru Peru@bizlatinhub.com
  • 16. OUR SERVICES www.bizlatinhub.com • Commercial Representation Services • Company Formation Services • Visa Processing Services • Accounting & Finance Services • Legal Services • Due Diligence Services • IT Support Services • Recruitment Services
  • 17. RECENT ARTICLES www.bizlatinhub.com Biz Latin Hub Discuss Growth with UK Trade Commissioner and NZ Ambassador Biz Latin Hub Meets Up with Costa Rican Ambassador to Australia in Sydney Can I Get a Visa in Colombia by Investing in Property?