| GENERAL INFORMATION |
| |
| Location | Central America |
| Population | 2.8 million approx |
| Native language | Spanish (English widely spoken) |
| Currency | US dollar |
| Constitution & Political status/stability | Constitutional democracy |
| Banking & professional facilities | Full banking facilities with more than 85 banks with office facilities |
| Legal system | Civil law |
| Offshore specialities/expertise | Panama has been a financial and offshore centre for more than 75 years |
|
| TAX REGULATIONS |
| |
| Income tax |
|
 resident | 30% |
| non-resident | None |
| Trusts |
|
| resident | None |
| non-resident | None |
| Corporate tax |
|
| resident | None |
| non-resident | Companies 30% |
| exempt | None |
| Estate duty | No |
| Withholding taxes | None for persons operating outside Panama |
| Exchange controls |
|
| resident | None |
| non-resident | None |
|
| TRUSTS |
| |
| Are trusts permitted? | Yes. |
| Perpetuity period | Allowed |
| Accumulation period | N/A |
| Statutory trust law | Yes |
| Trust duty | No |
| Forced heirship exclusion | Yes |
| Asset protection measures | Yes |
| Trust register | No |
| Resident trustee/s required | No |
| Regulation of trustees | Yes |
|
| CORPORATION LAW FACTORS |
| |
| Type of corporate vehicles | Corporations; Private Foundations |
| Incorporation time scale | 5 days |
| Fees: Incorporation - Government | $150 annual tax;US$800-US$ 1,200 incorporation; US$150 registered agent fee |
| Other | N/A |
Annual -
Government | Only US$150 annual tax |
| Other | N/A |
| Resident directors required | No |
| Min number of directors required | 3 |
| Directors meetings required | No |
| Beneficial ownership disclosure | No |
| Shareholder disclosure | No |
| Minimum number of shareholders | 1 |
| Bearer shares allowed | Yes |
| No-par value shares allowed | Yes |
| Public share register | No |
| Shareholders meetings required | No |
| Frequency | As per the Articles of Incorporation |
| Place | As per the Articles of Incorporation |
| Annual return required | No |
| Audit required | No |
| Foreign currency accounting allowed | Yes |
| Registered office | N/A |
| Registered agent | Yes. |
| Stamp/capital duty | No |
| Naming your company | Subject to approval |
| Company mobility provisions/redomicility rules | Yes, redomiciliation is permitted |
