Company Incorporation in Panama
How to start a Panamanian limited company. Incorporation or formation of a company in Panama. |
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A company of Panama, which does not do business in Panama is tax free in Panama. This means that many organisations have used independent companies in this country.
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| Advantages of Panama |
All of Panama corporations must end in “Corporation”, “Incorporated”, “Sociedad Anónima” or the abbreviations “Corp. ”, “Inc. ” or “SA.”
You can not use the suffix “Limited” or “Ltd”. The company name may not be identical to an existing company, but can be in any language provided that the latin alphabet is used.
Aselsa can reserve your company name up to a maximum of 10 ten days.
Purpose and activities of a Panamanian company
Panamanian companies can have any lawful purpose and may perform any commercial or industrial.
The objectives of the society need not be expressly stated in the Articles of Incorporation, as the Panamanian Law on Companies allows the creation of companies whose Deed contains general objectives.
Requirements for setting up a company in Panama:
- The corporate purpose
- The share capital of the company
- The names and addresses of the directors
- Election of a President, a Treasurer and a Secretary. An individual may hold more than one of these positions