Open a company in Panama

Registration of a company in Panama

When it comes to offshore business, an integrated approach is needed. It is important to choose the right jurisdiction. And we highly recommend taking a closer look at Panama.

This state was until 1821 a Spanish colony, but today it has become a democratic republic, in which the majority of GDP is provided by the service sector, namely — banking and tourism. The financial sector is well developed. In addition, the expected expansion of the Panama Canal will ensure the rapid economic development of the country. Some industries have 20-year tax holidays. 

Opening a company in Panama is very prestigious. Local and foreign companies in this country have the same status. The popularity of Panama is especially growing, given that the procedure for registering a business in Panama is simple. You will have the opportunity to become the owner of both a corporate and a personal account in one of the reliable banks. You will be completely sure that your assets are safe. 

Registration of a company in Panama. What benefits does it provide?

Here are just some of the advantages of offshore Panama:

• In a relatively short time, Panama has become one of the leading countries for starting a business, and all thanks to the minimum tax burden;
• has a favorable geographical position;
• Panama has world-class infrastructure;
• The crime rate is low here. 

Registration of companies in Panama. What types of firms can be opened?

In Panama, the law provides for several forms of doing business:

1. Civil Partnership
2. Corporation
3. Limited Liability Company
4. Commander company (a hybrid of partnership and company).

If you run a business in Panama, it is tax-free if the income comes from sources that are located abroad. 

So it is profitable to open your company in Panama. You will receive an effective tool to conduct international business. At what you risk nothing, everything is legal. 

How to register a company in Panama, what documents will be needed?

The main package of documents includes:

• Memorandum and Articles of Association (contains residence addresses, names of founders and amount of capital contributed);
• Certificate of incorporation;
• Protocol on the appointment of the director;
• Share certificate;
• Consent of the director to the performance of duties;
• Shareholder registers. 

Please note that you will need an office within the country. We can help keep it running if you decide to register a company in Panama.

Panama for business in Latin America is rightly considered one of the best options. We recommend opening a company in Panama, because foreign investors in this country enjoy a number of advantages. You can manage your business remotely. And the Crystal team is ready to take on the mission of organizing remote work for your company. After all, it is not enough to open a company in Panama. The success of a business will be determined by how well it is managed from day one. It is important to skillfully use the state tax policy of Panama, which exempts foreign income from taxes. There are no restrictions on the repatriation of capital. Also in Panama is a free trade zone. 

We will help you choose a form of business organization, open a bank account in Panama and obtain a license. 

The director may not attend meetings in person. They are carried out remotely. Trusted persons can also take part in them. The director can be an individual or a legal entity. 

Panama offshore. Documents for opening a bank account

It will not be possible to register a business in Panama without opening a bank account. But without knowledge of Spanish it is very difficult. The Crystal team will help in solving this problem. Since there are 100 international banks operating in Panama, it is important to make the right choice.

You will enjoy doing business in this country, as Panama has managed to create a very favorable environment for a massive influx of foreign capital over the past decades. Barriers to entry are low in banks, and there is no control over the movement of funds by the state. Maritime shipping is considered the most promising industry today. 

As the official language in Panama is Spanish, we recommend that you learn it. But you can also keep business records in English. 

Ready-made Panamanian offshore corporations

Interested in the quick creation of an offshore company in Panama? Alternatively, we can offer you ready-made offshore companies in Panama, we have an extensive database of them!

Secure your assets now! Take your business to the international level. You can do this even if you do not have much experience in managing a company in Ukraine. Such a business will definitely be positively perceived by foreign banks. And the owner and diRectors can be of any nationality and have the citizenship of any country in the world. All loans or financing for those living abroad are exempt from taxation. 

How much does it cost to do business in Panama?

To do business in Panama, you only need to pay $300 in franchise tax annually. If you do not pay it on time, there will be a fine, in case of repeated violation, a ban on doing business in this country may be imposed.

And there are no requirements for the size of the minimum authorized capital here. 

How much will it cost to open a Panamanian company in Crystal.tax?

It is up to you to register a company in Panama or buy a ready-made company. Our consultants will tell you about the advantages and disadvantages of each of these solutions. We offer some of the most affordable rates for our services. We do not have intermediary markups! You will be able to do your own business, and we will help you to comply with all the necessary formalities: collect documentation, provide official documents, advise on the legal side of doing business.

Based on our experience, we can easily suggest promising business areas that will certainly be successful. We have detailed information about various government programs in Panama aimed at business development. The government is actively attracting foreign investment. We know how to help entrepreneurs who want to do business abroad, reduce their tax burden and increase their assets. It is very important to draw up a correct business plan from the very beginning and determine the jurisdiction. 

Pleasant bonuses in Panama can be considered:

• comparatively inexpensive office rental price;
• high speed internet;
• inexpensive housing;
• pleasant climate;
• cheap labor;
• lack of audits (nevertheless, it is necessary to keep accounting records from 2017, this norm is relatively new).

Foreign citizens are denied access to some areas. You will not be able to do everything related to aviation and communications.