Start a Company in
Panama
Panama is a popular destination for company formation, attracting foreign investors with its strategic location and business-friendly environment. With no exchange controls, low inflation, and favorable tax policies, Panama offers an ideal platform for international trade, banking, and shipping operations.
here's what you need to know
- Companies in Panama are taxed only on income derived from within the country.
- There are no exchange controls on cross-border transactions
- Directors and shareholders can be of any nationality
- No minimum paid up capital
- At least 3 directors, one shareholder and a resident agent are mandatory for a Panama company registration.
Why us?
Responsibility
We take responsibility for our actions and results.
Integrity
We strive to provide the highest level of consulting services
Accuracy
We adhere to high ethical standards
Individual approach
Our individual solutions are focused on customer needs
Prepatory Stage
- Choose the unique name for your company.
Sign the statutory documents
- Prepare copies of your passport, proof of address for yourself and any directors or shareholders.
- Once we receive all the documents, we will prepare the articles of association for your company
Submission & Final Approval
- Once all the documents are signed we will submit them to the registrar for final approval.
Complete the Initial Questionnaire
- Fill out a short form with basic company and contact details
- Indicate your business activity and countries of operation
Choose Your Account Type and Services
- Select between personal, business, or merchant account
- Choose additional services (e.g. multicurrency support, online banking)
Undergo Compliance Check
- Wait for the bank's initial due diligence
- Respond to any additional compliance questions or requests
Account Activation
- Receive final confirmation from the bank
Our solutions include:
- Preparing monthly, quarterly and yearly management accounts, cash flow statements for management purposes.
- Preparing annual financial statements.
- Attending to the auditors during review of the company’s financial records.
- Administering the payroll process, including calculating and crediting of the net remuneration to individual employee’s bank account.
- VAT consultancy, support registration VAT number, filing VAT-returns and reclaiming foreign VAT
- Other financial reports
Streamline administration with our expert help
- Legal address & contact person
- Banking account opening assistance
- Accounting
- Tax consulting
- Company formation
QA
Where can I open a bank account for my Panama company?
A Panama corporation can open a bank account in any country, and we can assist in setting up a corporate account in various reputable offshore jurisdictions.
Can a foreigner start a business in Panama?
Yes, foreigners are allowed to register a corporation and start a business in Panama. Residents from any country can serve as directors, shareholders, or officers of a Panama-based company.
How can I register for VAT in Panama?
In Panama, the Value Added Tax (VAT) rate is 7% for most products and services, 10% for alcohol, and 15% for cigarettes. Companies with an annual turnover exceeding $36,000 or a monthly turnover above $3,000 must register for VAT. The registration can be voluntary or compulsory, and it requires submitting specific documents to the Panamanian Taxpayer Registry. Upon registration, a certificate of registration, including the taxpayer identification number, will be issued. Foreign companies not operating in Panama cannot register for VAT.
How can I open a bank account in Panama?
Opening a bank account in Panama requires the personal presence of the company's representative for an interview. The representative must provide documents such as certified copies of their passport and ID, proof of legal stay in Panama, two bank references, business activity description, source of funds, and company location details. Additionally, the approximate monthly or annual funds to be handled and the reason for opening the account must be provided.
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