| Corporate Vehicle |
PANAMA IBC |
| Type of law |
Spanish Civil Law |
| Currency |
US$ |
| Language |
Spanish and English are the offical languages of Panama |
Capital requirements
(standard issued) |
No minimum amount specified. A company can be registered with any amount, i.e. US$1.00. Standard Authorised Share Capital is $10,000 |
| Language of Legalisation and Corporate Documents |
Spanish and certified English translations |
| Registered Agent |
YES. Must be an Attorney or a Law Firm |
| Registered Office |
YES. Must be maintained in Panama at the address of the Registered Agent |
| Migration of Domicile possible? |
YES |
| Disclose beneficial owner |
NO |
| Minimum no. of directors |
THREE (President, Secretary and Treasurer) |
| Must director be resident |
NO |
| Permit corporate directors |
YES |
| Must have company secretary |
YES |
| Must secretary be resident & are corporate secretaries permitted |
NO & Corporate Secretaries are allowed |
| Bearer shares permitted? |
YES |
| Annual return filed |
NO |
| Audited Accounts necessary & must be filed? |
Required to prepare Accounts, but not required to file |
| Annual Franchise Tax |
$300 |
| Annual shareholders meeting |
YES |
| Corporate tax requirements |
Full exemption from taxation for any business activity or transaction carried outside Panama |
| Information available on public |
Directors |
