Panama Company Formation
Republic of Panama is located in the Central America Continent having Costa Rica to its north and Colombia to its south. Banking and insurance sector is flourishing in Panama. Generally, there is neither any exchange control nor any prohibition on the foreign investment. Panama has not gained title of world’s oldest offshore centre out of nowhere, instead this is due to the reason that there exist well developed professional infrastructure and proper provisions of company secrecy law. Panama is a tax friendly country and has a well-established offshore financial service centre and this is the reason that, Panama has the world’s principal yacht and ships registration.
Panama’s corporate law made it a preferred place of investment for foreign investors. Provisions of Panama’s company law puts minimum reporting requirements on the companies. The incorporation procedures in the Panama are very simple and time efficient. Government fees are low and no currency control which makes company’s operations very favourable and easy in Panama. Bearer shares, if issued need to be paid fully.
Following are the requirements for company incorporation in Panama:
Kindly have a look at the section of fee schedule for description of incorporation fee. However here is the summary of the fees structure:
Once your company incorporates, you will get; certificate of incorporation along with M & A five copies, and original formation documents and minutes.
It takes 1 to 2 weeks for company incorporation in Panama.
Offshore Bank Account
For the updated details on the facility of offshore bank account, please refer to the section of fee schedule.