Chesterfield (London) - Headquarters
207 Old Marylebone Road
London
NW1 5QP
Tel: +44 (0) 203 771 3853
Fax: +44 (0) 203 771 3856
Email: sales@groupchesterfield.com

Panama

The Republic of Panama is in Central America between Costa Rica and Colombia. The capital and financial centre is Panama City. The language is Spanish but English is widely spoken in urban areas and is used in commerce and international trade.

 

The Colon Free Zone is the world's second largest Free Zone at the Atlantic entrance to the Panama Canal and is dedicated to the re export of goods to Latin America and the Caribbean. A major industry is the operation of the shipping register. Panama is a major flag of convenience. The other major industries are the operation of the Canal, banking, agriculture and tourism. Panama is a constitutional democracy. The National Assembly is elected for a five-year term and the President is both Head of Government and Head of State.

 

The company most commonly used for international trade and investment is the non-resident Panama Company, Limited Liability Companies are also available. Three directors are required for a Panama company. They may reside and run the company from anywhere in the world and corporate directors are permitted. 

 

The Government has made strenuous efforts to raise the standards of regulation of the financial services industries to internationally expected levels but there are still concerns in connection with money laundering and corruption.

Panama offshore company regulations
Type of entity Non Resident 
Type of law Civil
Corporate taxation Nil
Double taxation treaties available No
Share Capital
Usual currency U.S.$
Permitted currencies Any
Minimum paid up $1
Usual authorised $10,000
Directors
Minimum number 3
Local resident required No
Records publicly available Yes 
Corporate Directors allowed Yes 
Shareholders / Members
Minimum number 1
Records publicly available Optional
Location of Meetings Anywhere
Company Secretary
Required Yes
Local or qualified No
Accounts
Required Yes
Audit required No
Filing required No
Publicly available No
Other
Annual return required No
Change of domicile permitted Yes
Shelf companies available Yes
Time to incorporate shelf co 2-3 working days
Time to incorporate new co 3-5 working days

To learn more about Panama Company services follow the link below or call us on our offices

Telephone Number: 44 20 7097 1385



Email a friend

Licensed & Developed by UiBS>®