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PANAMA AT A GLANCE
All inclusive - PACKAGE #2 (with Nominee Director) - 1190 USD
Panama is a land bridgehead between Costa Rica and Columbia, with the Caribbean Sea on its North Coast and the Northern Pacific on its South Coast, Panama connects Central America with South America.
FACTS AT A GLANCE
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| Official Name |
Republic of Panama |
| Capital: |
Panama City |
| Nationality: |
Panamanian |
| Political System: |
Constitutional Democracy |
| Official Language: |
Spanish |
| Population: |
3,320,000 |
| Ethnic Origin: |
Mestizo – 70%; West Indian – 14%; European – 10%; Amerindian – 6% |
| Head of State: |
President Moscoso |
| Head of Government: |
President Moscoso |
| Next Election: |
2009 |
| Currency: |
US Dollar |
| Time Zone: |
EST, GMT – 5 |
| Climate: |
Tropical Maritime, hot, humid and cloudy |
| Religion: |
Roman Catholic – 85%; Protestant – 15% |
| Economy: |
Service Sector (Canal Zone, Colon Free Zone, Banking, Insurance, Transshipment) 70% GDP. Other: Tourism, Agriculture, Forestry and Mining. |
A PANAMA OFFSHORE CORPORATION AT A GLANCE
Panama offshore legislation under the General Corporation Law, Law 32 of the 26th of February, 1927 seeks to provide the legal framework for International Business Corporations to meet the challenges of Global Trade and other business activities in today's environment. The laws are meant to be creative and flexible with features which make the process uncomplicated and efficient.
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One of the popular offshore jurisdictions in the world. Laws have been in existence for over 75 years. |
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There are no taxes on the activities of Panama offshore companies outside of Panama. |
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No reporting requirements for a non-resident Panama Corporation. |
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Panama does not allow scrutiny of corporate books and records of Panama corporations. Corporate books are maintained 100% private and confidential by law. |
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Privacy of Ownership; Share certificates can be issued in Bearer form, which ensures total privacy of the owner of an offshore panama corporation. |
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Nominee Shareholders and Directors of a Panama company are permitted and are usually used. We provide Nominee Services in our package at no extra cost. |
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Offshore Panama Corporations do no require any paid-in capital and there is no time limit on when the Authorized Capital must be fully paid. |
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Panama Corporations require three Directors. The Directors may be Nominees. |
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Panama incorporation require officers (President, Treasurer and Secretary). Officers may hold more than one position, with the exception that the President and Secretary cannot be the same person. Other positions may be combined. Directors may be officers. |
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Directors' names and addresses must be presented to the Mercantile Registry when the Panama IBC is formed. Note – Nominee Services are available. |
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Annual General Meetings are not required of either shareholders or directors of Panamanian companies
If meetings are deemed necessary, they may be held by telephone, teleconference, or any other electronic means which is convenient. Meetings may be held anywhere in the world. |
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To incorporate in Panama, a Panama Offshore Corporation must have a Registered Agent who must be a local practicing lawyer or law firm, a trust company or a Professional Management Services firm. |
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The Registered Agent is not required to keep any records for the corporation. |
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Every corporation must hold a Minute Book and Stock Register. These records may be held anywhere in the world. |
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A Panamanian Corporation must have two subscribers present before a Notary Public in order to be incorporated. |
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A Non-Resident Panama Corporation has to pay an Annual Corporate Franchise fee of US$250.00 to remain in good standing. |
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A Non-Resident Panama Corporation must maintain a registered office in Panama. |
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No Corporate Seal is required. |
Checkour Fees & Packages or GO to Incorporate Now!
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