When evaluating the various business options that can be developed, one of the most critical issues is analyzing the legal structure that will serve as the basis for the company. The legal structure will affect economic, tax and personnel assets protection issues. One of the most common legal forms is a Corporation, due to the advantages that converge in it. Many investors seek to establish their businesses here once they discover that this country has one of the most favorable business environments in the region and the world. In our Panamaniam law firm we can advise you in this matter.
Why Panamá?
Panama has earned a reputation as a hub for international business due to its strategic location, robust economy, and favorable legal framework. The incorporation of a corporation in Panama offers numerous benefits.
- Fiscal scenario: Panama avoids double taxation, meaning income generated outside the country is not subject to Panamanian taxes.
- Privacy and confidentiality: Panama’s laws provide strong privacy because the corporation directors and administrators appear in the public documentation, while the shareholders do not.
- Simple process: A Panamaniam law firm leads the incorporation process, ensuring that it is completed within the established legal regulations and with a short waiting time.
- Stable political and economic environment: Panama’s enduring political stability and growing economy make it a secure and attractive destination for investors from diverse industries.
How to set up a company in Panama?
The most common type of company in Panama is a Corporation. This structure is ideal for commercial activities or holdings that want to make the country their starting point for the region or the world, taking advantage of the geographical location.
1. You must hire a lawyer or law firm
It is mandatory by Panamanian law to have a resident agent, who must be a suitable lawyer licensed to practice in Panama. At Mónica Castillo Arjona – Law Firm we can provide investors and entrepreneurs with comprehensive legal advice. Our services range from the company’s incorporation to legal and financial advice on business structuring.
2. Book the company name
The company’s name must be unique and can be reserved through the Panama Public Registry. It is advisable to have alternative names just in case your preferred name has already been taken.
3. Drafting the incorporation´s articles
Articles should include essential details such as the company’s name, objectives, authorized capital stock, and information on directors and shareholders. These documents must be legalized before a notary’s office before filing.
4. Management personnel
A corporation requires at least three directors, who may be nationals or foreigners and may reside in the country or abroad. In addition, it requires two subscribers or partners.
5. Registration in the Panama Public Registry
The notarized Articles of Incorporation are presented before the Panama Public Registry. This step formally creates the corporation and usually takes a few days, generally a week, if all requirements are met.
How can Mónica Castillo Arjona – Law Firm help?
For your company’s incorporation process to be expeditious, it requires the advice of professionals who are experts in the legal requirements, understand the local regulations, and ensure due compliance.
Mónica Castillo Arjona -Law Firm offers a range of practical areas designed to guide entrepreneurs and investors through this process, from legal advice and document preparation to business legal advice for your company’s growth.
Taking advantage of our Panamaniam law firm and following the steps described, you can successfully establish your business presence in one of the most favorable and transparent jurisdictions in the world, respecting the highest standards of compliance and due diligence.
