Panama
Geographic location:
Central America
Population:
2,820,000
Native Language:
Spanish, English
Currency:
Panamian Dollar
Political Status:
Parliamentary Democracy
Legal System:
Based on Spanish Civil Law
PANAMA
COMPANY FORMATION
First Year
Incorporation cost USD 1,800*
Second Year
Maintenance cost USD 850
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OFFSHORE COMPANY - PANAMA
The Republic of Panama is located in the centre of the American Continent and lies between Costa Rica to the north and Colombia to the south. It has a growing banking and insurance sector. There are no restrictions on foreign investments or exchange control. Panama is one of the oldest offshore centres in the world and has a strong professional infrastructure as well as favourable commercial secrecy laws. As an established tax-friendly investment and offshore financial services centre, Panama also possesses the world’s principal yacht and ship registration.
Exempt Non-Resident Corporation
The provision of Corporate Law of Panama has enabled it to make the Panama Corporation a preferred vehicle for foreign investors. The law imposes minimal reporting requirements, as well as simple and fast incorporation procedures. This corporate vehicle is very cost-effective because of the low government fees and it is not subject to exchange controls or currency controls. If Bearer Shares are issued they must be fully paid up.
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