For more than ninety (90) years the Panamanian Corporation ("S.A ") have been known, globally, as a corporate structure that can be used profitably in a variety of International Business, Estate Planning Structures, Asset Protection and a whole lot more.
Distinct characteristics of Panamanian Corporations:
- - Incorporation within 5 – 7 business days.
- -Companies in Panama can be incorporated without regards to the nationality of its shareholders and directors.
- Incomes generated by Corporations in Panama outside of the Panamanian territory are exempted from tax.
- The authorized capital is not necessarily expected to be paid partially or in full.
- It is not compulsory to file any tax returns or financial reports with any governmental entity in the Republic of Panama, when the company does not generate funds from a Panamanian source. However copies of the accounting records, statement have to be kept by the agent and have to be available for inspection.
- Legal entities of any jurisdiction may act as officers, directors and shareholders of a Corporation in Panama.
- Annual meetings of Directors or Shareholders isn't necessary.
- Directors and Shareholders may attend the meetings individually, by phone, by proxy or by any electronic means.
- The requirement is three (3) directors, either legal entities or natural persons.
- The officers (Secretary, President and Treasurer) do not necessarily have to be directors, and an individual can occupy more than one or all offices. Legal entities or real persons or can also be appointed as officers. Officers are not compulsory.
- Company Share are registered in nominative form. On the off chance, the name of the shareholder is not needed to be registered in the Public Registry of Panama, thus, ensuring total invisibility.
- A corporation can effect deals and have assets in any part of the world without the burden of keeping assets in the Republic of Panama.
- Panamanian Corporations are strengthened by the law to carry out any act that is lawful.
- Lack of exchange control.
Company can be with the following features:
- Registered office
- Company agent
- The proposed names for the company would be verified and reserved at the registrar.
- Memorandum and Articles of incorporation
- Genuine translation to English of the articles of incorporation
- Certificate issued by the registry
- Certified translation to English of the certificate from the registry
- Certificates of shares
- Register of shares
- First minutes
- Power of attorney (If applicable)
- Undated and signed letters of resignation from the subscribers
- Subscription transfers