Corporations

Corporations General Information
Panama has one of the best corporate laws in Latin America. Some of the advantages are:

  • Two or more persons from any country, even if they are not panamanian residents may organize a corporation for any legal purpose. The foundation documents may be executed in any part of the world and in any language.
  • There are not paid in capital sum requisites.
  • The property of a panamanian company may reside on one individual or another corporation and none of its owners has to be a panamanian.
  • There are no nationality nor residence restrictions regarding its shareholders.
  • It is not required that the directors nor the officials are also the shareholders.
  • The Board of directors must be composed by at least three individuals but one individual may also occupy more than one office.
  • The shareholders meetings may be held in Panama or outside Panama. The shareholders may appoint a representative.

Requisites and information needed to establish a panamanian corporation:

  • Name of the Corporation: it can be in any language, nevertheless it should have a suffix which indicates is a company (S.A., INC., CORP.)
  • The purposes and objectives of the company.
  • The authorized capital.
  • The shares may be nominative shares or bearer shares.
  • Names and complete addresses of the directors and or officials (they must be at least three).
  • The company's domicile.

The whole process of constituting a corporation usually takes five working days and it has to be done through an attorney.