SOCIAL AND ECONOMIC
INDICATORS
Location: |
Latin America,
joining North & South America |
Area: |
77,082 square
kilometers |
Population: |
2,839,077 |
Capital: |
Panama City
(708,438) |
Climate: |
Tropical |
Official Language: |
Spanish (official),
English |
Government: |
Constitutional
Democracy |
Living Standard: |
High |
Legal Tender: |
Balboa (par with
U.S. Dollar which is the only paper currency in
Panama) |
Industry: |
Financial services,
Panama Canal, Colon Free Zone, Tourism |
Uses of Panamian
Corporations
Holder
of bank accounts, fixed deposits, investment plans and any other
financial or commercial title.
Owner
of the shares of other companies or legal entities.
Owner
of apartments, houses, buildings, vessels and any other movable or
immovable property or goods.
Manager
and promoter of business transactions.
Leasing
of vehicles, machinery, vessels and others.
Borrowing
or lending money, paying or receiving commissions’, royalties or
others.
Marketing
and promotion of products and services.
Other
commercial and financial activities.
Features of Panama
Corporations
BUSINESS
TRANSACTIONS
TAXATION
AUTHORISED CAPITAL
/ SHARES
-
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, directors and/or officers can
be either corporate entities or natural
persons.
-
The directors may grant special or general
powers of attorney.
-
Neither the directors nor the officers need
be shareholders.
-
Shareholders, directors and officers may be
of any nationality and may be resident of
any country.
-
Shareholders and directors may hold their
meetings in any country and may attend such
meetings by proxy or by any electronic means
(phone, fax, etc).
ANNUAL FILING
INCORPORATION AND
ADMINISTRATION
-
Familiarity of incorporation documents
(Articles of Incorporation).
-
The words "Corporation", "Incorporated", "Société
Anonyme", or "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
REGISTERED OFFICE,
CORPORATE SEAL AND LEGALISATION
-
Use of Apostille should documentation need
to be legalised. Legalisation via a
Consulate is also available for some
countries.
-
Registered Office in
Panama
is required.
-
Corporate seal is optional.
REDOMICILIATION