Panama is a country which is situated on the isthmus which connects South America to Central America. It has an area of 75.640 km².
Panama has been a highly reputable offshore destination for a long time. Firstly for the Americans, and more recently for all offshore users.
For nearly three decades, a growing number of companies who are active in different fields of business, and who are spread across the world have chosen Panama to host their facilities, and have taken advantage of the many types of benefit which are offered to non-resident offshore companies.
Panama has a very strong economy, is politically stable, and is an offshore destination which should not be overlooked.
As with many other destinations, Panama relieves its non-resident companies of the obligation to maintain financial reports and records. There are no accounting reports which must be submitted on an annual basis.
Panama will ideally suit companies who trade in the fields of import/export, the oil, maritime and mining sectors, the transportation of goods, passenger transport, chartered vessels of all types, and various other forms of aviation.
Panama has over 50,000 registered companies. Panama holds over 50% of the registration for merchant vessels in the world and is experiencing growth in the housing sector on an annual basis.
Important information
- 0%. No corporation tax. A fixed annual fee which is equivalent to €700 is due company anniversary.
- Panama allows the incorporation of companies by using the services of a nominated director, meaning that he/she shall remain anonymous in the public registry (at Companies House). Shares of a company held in Panama can be bearer shares, meaning that the shareholders can remain anonymous.
- No minimum amount of share capital is required to found a company.
The cost:
- Incorporation: $1,900.00
- Cost for maintenance and domiciliation: $1,700.00