Panama

Principal Corporate Legislation Corporation Act year 1927, modified in 1997
Type of Company for International Trade, Investment & Tax Planning Corporation
Authorized business activities Any activities not prohibited by the law. Providing of banking, insurance, and re-insurance, trust services is subject to special license
Prohibited activities No
Language of Legislation and Corporate Documents Spanish
Taxation No tax and duties for non-resident companies
Standard share capital 10000 USD, divided into 100 shares with par value 100 USD
Shares Authorized emission of both registered and bearer shares with or without par value
Shareholders The minimum number of shareholders is one - individual or legal entity
Publicly Accessible Records No
Directors Minimum number - three individuals or l
egal entities
Registered office Not required on the territory of Panama
Registered agent Required on the territory of Panama
Location of Meetings of Directors and Shareholders At any part of world
Mandatory- keeping of accounting records- annual account- presentation of auditor's conclusion No requirementNo requirementNo requirement
Currency control No
Double Taxation Treaty Access None
Incorporation timeframe 3 weeks
Shelf Companies Yes