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Companies in Panama

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sociedades-panama

Open an offshore company or corporation in Panama is a very simple matter, through national legislation, the Companies Act 1927. This law established the formation of over 400,000 companies and foundations in Panama, making it the second jurisdiction offshore in the world after Hong Kong.

Societies in Panama are created for various activities for its flexibility and versatility, as well as the strength of its banking center.

Having an Offshore Company in Panama will allow you to: register boats and ships, Panama is one of the countries with the largest ship registries in the world. Revenues generated outside Panama by a vessel registered by a Panamanian corporation tax will except in Panama, as well as also the mortgage of the ship. Panamanian companies can own property anywhere, an offshore company can own real estate and personal property, such as cars, boats, etc. Offshore Panamanian corporations or owners may also be trademarks and patents, are and many other advantages are offered by offshore companies or corporations in Panama.

An offshore company in Panama offers the option to issue bearer shares to provide more privacy in business transactions. It is similar to the International Business Company (IBC) BVI and the Bahamas, but are prohibited from conducting business in Panama, contrary to the restriction with the IBC in other jurisdictions.

In addition, the company’s business outside Panama are not taxable in Panama.

only two people are needed to form a company in Panama, they can be of any nationality and resident of any country in the world. These people must submit and sign the social pact before the Notary in the Republic of Panama. These people do not necessarily have to be partners.