Offshore Panama Corporations


International investors, financiers and businessmen find Panama an ideal foreign base country for worldwide operations and transactions. We are international corporate consultants and fiduciaries that provide the continuous, professional incorporation and administration of offshore corporate and individual business affairs on behalf of clients worldwide. We specialize in the incorporation, creation and maintenance of offshore corporations, trusts and foundations that operate under the very favorable fiscal and tax laws of the Republic of Panama.

Our personnel and associates are multi-lingual, experienced professionals of undoubted discretion, technical expertise, and business acumen. Our services and facilities are designed to achieve the client's objectives in the shortest time frame at very reasonable costs. Personal attention, customized long-term relationships and the tailoring of each structure to the client's specific needs is our special concern.

New Panamanian offshore companies cost only US$999 each to incorporate, and each comes complete with articles of incorporation, nominee directors, resident agent, registered office, bearer share certificates, English translation and a Notarized Power of Attorney with Apostille and also a Minute Book. The Notarized Power of Attorney comes blank and you are entitled to fill it up with any name you want - who would in turn actually operate the company, i.e. open and operate bank a/cs and generally speaking bind the corporation in all respects and matters.

New Panamanian companies generally take from 5 to 8 business days to establish. Yearly maintenance costs for a company are only US$150 and are payable by the anniversary date of incorporation. The above US$999 includes the first year's maintenance fees plus DHL delivery to you (free of charge). Please allow up to 21 days for DHL delivery.

What do we need from you?

In order to open your Panama corporation, please submit the following:
Fee of US$999 in favour of: "CARLTON PRESS."
The completed and signed Order Form.

Thanks and best regards,
President & CEO, CARLTON PRESS
Dr. K.F.B. Weiss

CORPORATE FEATURES

GENERAL
Type of Company
Non-resident
Political Stability
Fair
Common or Civil Law
Civil
Disclosure of Beneficial Owner
No
Migration of Domicile Permitted
Yes
Tax on Offshore Profits
Nil
Language of Name
Latin alphabet
CORPORATE REQUIREMENTS
Minimum Number of Shareholders
One
Minimum Number of Directors
Three
Bearer Shares Allowed
Yes
Corporate Directors Permitted
Yes
Company Secretary Required
Yes
Standard Authorised Share Capital
US$10,000
LOCAL REQUIREMENTS
Registered Office/Agent
Yes
Company Secretary
No
Local Directors
No
Local Meetings
No
Government Register of Directors
Yes
Government Register of Shareholders
No
ANNUAL REQUIREMENTS
Annual Return
No
Submit Accounts
No
RECURRING GOVERNMENT COSTS
Minimum Annual Tax/Licence Fee
US$150
Annual Return Filing Fee
N/A

GENERAL INFORMATION:

The Republic of Panama, with an area of approximately 76,900 sq. km, is located between Costa Rica and Colombia, forms the narrowest and lowest portion of the isthmus that links North and South America.

POPULATION

The population of Panama is approximately 2.4 million, about 52% of which are in urban areas.

POLITICAL STRUCTURE

The Isthmus of Panama was discovered in 1501 by Rodrigo de Bastidas and Vasco Nuñez de Balboa, who had a leading part in the establishment of Santa Maria La Antigua del Darien in 1510, the first permanent settlement on the mainland of the Americas. In 1513, Balboa led an expedition, in Panama, which discovered the Pacific Ocean.

Pedro Arias Davila founded Panama City on 15th August 1519, almost a hundred years before Jamestown; the first permanent English settlement in North America was founded. Panama was a Spanish colony until 1821 when it became part of the Gran Colombia of Simon Bolivar. In 1903, Panama broke its alliance with Colombia and became an independent republic.

The executive branch of the Government is at present composed of a President and two vice-presidents, elected for a five-year term by direct election.

INFRASTRUCTURE AND ECONOMY

The Colon Free Zone is located on the Caribbean side of the Isthmus of Panama near the Atlantic entrance to the Panama Canal. This Free Trade Zone is the second largest in the world after Hong Kong.

Operations and transactions taking place in the Free Trade Zone are subject to a special tax treatment whereby imports from other parts of the world and re-exports to other countries are exempted from any import or export taxes imposed by Panama. Income earned from re-exports is taxed at specially reduced rates.

LANGUAGE

Spanish is the official and spoken language. English is also spoken widely in urban areas and is used daily in commerce and international trade.

CURRENCY

United States Dollar.

EXCHANGE CONTROL

None.

TYPE OF LAW

Based on Spanish Civil Law with many Common Law influences, particularly regarding Company Law, which is based on the Delaware Model.

PRINCIPAL CORPORATE LEGISLATION

  1. Corporation Law No. 32 of the 1927 Commercial Code
  2. Decree Law 5 of 1997
  3. Executive Decree 296 of 1997

COMPANY INFORMATION:

TYPE OF COMPANY FOR INTERNATIONAL TRADE AND INVESTMENT

Generally, corporations are incorporated under the Corporation Statute Law 32 of the 1927 Commercial Code. Limited Liability Companies and Limited Partnerships are used also.

PROCEDURE TO INCORPORATE

By presentation of the proposed corporation's signed Articles of Incorporation before a Notary Public who creates a Public Deed for registration at the Public Registry.

RESTRICTIONS ON TRADING

Cannot undertake the business of banking, trusteeship and trust administration, insurance, assurance, reinsurance, fund management, investment funds, collective investment schemes or any other activity that would suggest an association with the banking, finance, fiduciary or insurance businesses.

LANGUAGE OF LEGISLATION AND CORPORATE DOCUMENTS

Spanish and certified English translations.

REGISTERED OFFICE REQUIRED

Yes, must be maintained in Panama at the address of the Registered Agent.

NAME APPROVAL REQUIRED

Yes.

SHELF COMPANIES AVAILABLE

Yes.

TIME TO INCORPORATE

One day, subject to name approval.

NAME RESTRICTIONS

A name that is similar to or identical to an existing company. Names of well known companies incorporated elsewhere or a name that implies government patronage.

LANGUAGE OF NAME

Names may be expressed in any language using the Latin alphabet. A Spanish or English translation may be requested by the Registrar.

NAMES REQUIRING CONSENT OR A LICENCE

Bank, building society, savings, insurance, assurance, reinsurance, fund management, investment fund, trust or their foreign language equivalents.

SUFFIXES TO DENOTE LIMITED LIABILITY

All Panamanian corporations must end with the suffix Corporation, Incorporated, Sociedad Anonima or the abbreviations Corp., Inc. or SA. They may not utilise the suffix Limited or Ltd.

DISCLOSURE OF BENEFICIAL OWNERSHIP TO AUTHORITIES

No requirement.

COMPLIANCE:

AUTHORISED AND ISSUED SHARE CAPITAL

The standard authorised share capital is US$10,000 divided in to 100 common voting shares of US$100 each or 500 common voting shares of no par value, the capital may be expressed in any convertible currency. The minimum issued capital is either one share of no par value or one share of par value.

CLASSES OF SHARES PERMITTED

Non-voting shares, preferred shares, bearer shares and registered shares.

BEARER SHARES PERMITTED

Permitted, have to be paid for in full.

TAXATION

No corporation tax is levied on non-Panamanian sourced income.

DOUBLE TAXATION AGREEMENTS

None.

LICENCE FEES

Annual Franchise Tax of US$150 is payable.

FINANCIAL STATEMENT REQUIREMENTS

No requirement if income is of non-Panamanian sources.

DIRECTORS

Both corporations and natural persons may act as directors and the minimum number of directors is three. They may be of any nationality and need not be residents of Panama. Panamanian companies are also required to appoint a minimum of three officers (president, secretary and treasurer) who may also be the directors.

COMPANY SECRETARY

A company secretary must be appointed, who may be a natural or corporate person. The company secretary may be of any nationality and need not be a resident of Panama.

SHAREHOLDERS

The minimum number of shareholders is one.

Central & South American Jurisdictions