For entrepreneurs, who want to register a company in America, it will be beneficial to establish an enterprise in Panama.
Panama is a republic in Central America, connecting North and South America. It is a Democratic Republic, owns an excellent combination of political and economic stability.
You can open a company in Panama in the following forms:
- a Limited Partnership (LP);
- a Full Partnership (a General Partnership);
- a Corporation (C-Corp/S-Corp);
- a Closed Joint-Stock Company (CJSC);
- a Private enterprise.
If you want to register a company in Panama, a name must contain a word, a phrase or the abbreviation, that distinguishes it from other enterprises. A name can be formulated in any language. The most common endings for company names are: S.A., Corporation, Corp., Incorporated, and Inc. If you decide to register a company in Panama, a name of the Corporation in the state register are considered within 30 days.
In order to register a company in Panama, you need to understand, that a standard practice is to determine the size of the authorized capital and a number of shares. Doing business requires a minimum share capital of $10,000. No mandatory deposit requirements.
Island law provides for a minimum of three corporate directors to establish a company in Panama. The activities of each corporation are regulated by the Board of directors. A residency of a director does not matter.
A Board meetings can be held, using any electronic means of communication, anywhere in the world. Records are also a prerequisite, in which they report on all facts of the meeting or on permitted resolutions. Any resolution amending a Charter, including changes to the Board of directors, must be registered in the public register.
Panama offers a full tax exemption in cases, when a businessman wants to register a company with a full foreign ownership in Panama. A company is not required to submit annual reports. An initial contribution of $250 must be paid to the government after the company is registered in Panama. Over the following years, the annual fee is $300. No currency control and a tax exemption make a jurisdiction profitable for doing business.
Have you decided to register a company in Panama? Contact YB Case team with any convenient feedback form.