One of our most popular and attractive offshore products is corporation registration in Panama (S.A/INC/Corp) with full nominee service and apostille.
Some of our clients put confidentiality first, and that is where full nominee service comes in useful. This is a modern business instrument used on an absolutely legal basis to ensure the beneficial owner’s privacy. Our experts can offer you high-quality nominee service in Panama by engaging natural persons who do not have hundreds of offshore companies registered on their behalf to serve as directors. However, confidentiality is not the only problem that we solve for our clients.
After the European Union led by David Cameron, Prime Minister of the United Kingdom, began a global deoffshorization process by introducing an automatic exchange of tax information, many entrepreneurs and owners of offshore companies took to worrying about the future of their businesses. And our clients are no exception here.
We are sure that there is no need to panic because you can use a nominee service based on the engagement of natural persons (as nominee directors), which is currently the most appropriate and legal way to protect your offshore business. Contact our experts to find out how they can help you.
Features of Corporation Registration in Panama
Panama is a stable state that attracts customers by offering preferential taxation. Many countries assess Panama as a legitimate jurisdiction and remove it from offshore blacklists. Taxation in Panama is based on a territorial principle: income not derived from Panama is not taxable in the country.
For example, income tax in Panama is paid only by local companies and employees who are employed by Panamanian resident companies that make profits in Panama. And the tax rate on inheritance or wealth is 0%. A good place for company registration, isn’t it?
The registration of a corporation in Panama has several peculiarities:
- you have to use permissible endings in the corporation names selected for registration: Limited, Corporation, Incorporation, Société Anonyme, Sociedad Anónima and their abbreviations
- a corporation in Panama cannot engage in banking or trust business, insurance or reinsurance (these activities require a license) or offer its shares for sale to a wide range of persons
- registration requires 1 shareholder
- there are no requirements on the authorized capital amount for registration purposes
- bearer shares are allowed in Panama
- registration requires 3 directors whose names will be publicly available
- registration requires 3 employees (president, secretary, financial director) who can also be directors
- nominee service can be used for corporation registration in Panama
- no requirements as to the minimum amount of authorized capital
- meetings of shareholders and boards of directors may be held anywhere in the world, not just in Panama
- there is no need to hold annual meetings of the board of directors and meetings of shareholders
- there is a law in Panama that regulates maintaining the corporate information confidentiality
- no seal is required for registration purposes
- there are no strict accounting requirements: the ledger can be kept in any country in the world, in any form acceptable to its owners, and in any language
- if the corporation does not conduct business in the territory of Panama, it does not submit any financial or other reports to the Panamanian authorities, except in the event of corporation liquidation.
FREE EXPERT CONSULTATION
on which jurisdiction is best for
your business, preferred tax regime,
company structure.
on which jurisdiction is best for your business, preferred tax regime, company structure.
Nominee Director in Panama
Why use a nominee director in a Panama corporation?
- You will fully control the corporation using a Power of Attorney (PoA), with no information about you disclosed in corporate or other official documents. A nominee director is your way to confidentiality.
- The nominee director will represent you or act on your behalf using a PoA, but he will not be engaged in any operational activities of your Panama corporation.
Registration of a Corporation in Panama
The service of corporation registration in Panama with full nominee service and apostille includes:
- notarized articles of association with apostille (corporation statutes) in Spanish
- corporation registration in the Public Registry of Panama, registration of the certified seal
- state fee for corporation registration in Panama (tasa unica)
- preparation of minutes of the first meeting of corporation directors
- provision of nominee directors with a dismissal letter without a date
- certificate with apostille issued by the Public Registry of Panama
- nominee directors for a Panamanian corporation (3 natural persons) – for a year, copies of directors’ IDs and utility bills
- Power of Attorney
- a nominee shareholder for Panamanian corporation registration for a year, copies of IDs and utility bills
- certified translation of documents into English with apostille
- preparation of the register of shares and certificates
- apostille for corporation articles of association, certificate, translations, power of attorney (4 apostilles in total). The apostille stamp is required to legalize your corporate documents.
- courier delivery of your corporation documents with apostille around the world upon completion of registration process
Here is a more detailed article on corporation registration in Panama that may be of use.
Registration Expenses for a Panama Corporation
Upon registration of your offshore corporation in Panama, you will be provided with the originals of all corporate documents with apostille. You can use these originals when you come to any bank in person. The following registration costs will be required:
- notarized articles of association with apostille (corporation statutes) in Spanish
- corporation registration in the Public Registry, registration of the certified seal
- confirmation of the state fee for the corporation registration
- preparation of minutes of the first meeting of directors
- certificate with apostille of the Public Registry of Panama
- provision of nominee directors for the registration of a Panamanian corporation (3 natural persons) — for a year
- power of attorney with apostille
- certified translation into English with apostille
- preparation of the share register and certificates
Also, the service fully includes the cost of:
- registration and preparation of documents for the corporation in Panama (+ apostille)
- registration fees
- services of the registered agent in the first year
- registration addresses for the first year
- delivery of corporation documents by courier service as soon as the registration process is complete
We are happy to help our clients select a bank even before the corporation registration in Panama at our free consultation on the selection of an offshore or foreign bank account.
Some of our clients want to compare different destinations. Here is an article on Nevis (with full nominee service and apostille, too!) where you can take another look at the advantages offered by the nominee service. Whatever needs you may have, Offshore Pro Group is sure to find the ideal place for your business aspirations! Use the contacts above to write a message to us.
