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Panama Company Registration

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Hightlights of Panama Companies

Business Transactions

May engage in any lawful business in any country and may carry on transactions whatever currencies they choose.
Registration of mortgages on vessels and aircraft available.

Taxation

Full exemption from taxation for any business activity or transaction carried outside Panama.

Authorized Capital / Share

Nominative or bearer shares at owner’s option.
No paid-in capital is required.
No minimum or maximum capital requirements

Directors / Officers (Secretary) and Shareholders

Shareholders, director and/or officers can be either corporate entities or natural persons.
The directors may grant special or general power of attorney.
Neither the directors nor the officers need be shareholders.
Shareholders and directors may hold their meetings in any country and may attend such meeting by proxy

Annual Filing

No requirement to file annual returns or financial statements; no requirement to hold annual general meetings of shareholders of directors.

Incorporation and Administration

Familiarity of Incorporation documents (Articles of Incorporation)
The words “Corporation” “Incorporated” “Sociedad Anónima” or the abbreviations “Inc.” or “S.A.” may be used in a company’s name.
Speedy incorporation procedure and simple ongoing administration.
Shelf companies available.

Record Keeping

Accounting books of the company may be kept abroad.

Registered Office, Corporate Seal and Legalization

Registered Office in Panama is required
Corporate seal is optional.
Use of Apostille should documentation need to be legalised. Legalisation via a Consulate is also available for some countries.

Income Taxes

It is a basic constitutional principle in the Republic of Panama that no one has to pay any contribution or tax that is not legally established, and the collection of which is not carried out as prescribed by law (Artic1e 48 of the National Constitution).

In 1991, the Legislature passed Law N° 31, known as the Tax Reform Act. According to the National government, the provisions set forth in this law have the purpose of promoting tax justice by reducing tax rates, and modernizing the fiscal administration.

The Internal Revenue Service of the Ministry of the Treasury is the government office in charge of overseeing and collecting revenues, services, rights, taxes, tolls, fees, duties, and excise taxes for the National government.

Oleg - Klaipeda
I have worked with Gerli & Company for a number of years and have known Ismael Gerli, for over a decade. When it comes to detail, no questions to be asked, Ismael Gerli, knows how to run ships in rough waters. Thumbs Up
Well-known reputation
I was very pleased that I chose Gerli & Company some two decades ago, to represent me in my companies spin off, ever since we have set up and organized both onshore and offshore structures through Gerli & Company, whom have proven highly skillful. Our group exceeds 100 corporate structures and Panama Private Foundations. Their credibility and well-known reputation has been key to our success.
Attention to detail
I have worked with Gerli & Company for a number of years and have known Ismael Gerli, for over a decade. When it comes to detail, no questions to be asked, Ismael Gerli, knows how to run ships in rough waters. Thumbs Up
Very professional and proficient
I have the utmost appreciation and respect for the Gerli & Company Law Firm. Our case was complex and it included a number corporate structures and registration of vessels in four flag registries. There were multiple lawyers and paralegals assigned to us, from both Panama and Miami office. All with whom I communicated with was indeed professional and proficient in their role. They definitively exceed the expectations of their clients. The team worked earnestly towards structuring what we needed, a strong validation as well for the Gerli team in Ft Lauderdale and Marshall Islands Registry staff.
Sound guidance
I contacted Gerli & Company based on their stellar reputation supporting real estate and second citizenship program immigration process in Dominica. Ismael Gerli, and his team provided sound guidance when addressing my request on application and additional requirements. They were truly committed, treated me professionally, and most importantly provided realistic expectations masterfully. Thank you Ismael and staff for your overwhelming support and final success on our application, both Katerina and myself are grateful and happy with our new passport.
Extremely knowledgeable and professional
I worked with Gerli & Company team on an Maritime labor dispute within our hear office in Panama City, involving gender grade group assignment. I am certain the firm had many other cases, however, I felt like I was a priority to the firm, and mostly to the staff assigned to our case. We had 24/ 7 communication while we visited Panama, they were reachable at all times and worked hand to hand with me during the entire process. Staff members, and legal assistants to the partners, had cutting knowledgeable and professionalism at its best. Without question, what was perceive as unpleasant, became more tolerable.