Home > Offshore Company > Panama Tax Haven > About Panama IBC
About Panama Company
If you would like to incorporate an offshore company in an independent offshore jurisdiction, you should consider a Panama corporation, which is also known as Panama Offshore IBC.
Major advantages of Panama Company:
Panamanian corporations are incorporated under the Law No. 32 of 1927 and the Commercial Code (Decree-Law No. 5 of 1997, Article 5).
The name of Panama IBC may be in any language and must include one of the following legal endings: Incorporated, Corporation, Sociedad Anonima, Inc., Corp., S.A.
The name must be a different from already existing or reserved corporate names in Panama.
Office Address and Local Agent
Each Panamanian corporation must have Panamanian registered office address and Panamanian agent, who is an attorney or a law firm.
Principal office address (business address) of the corporation may be in any country.
Our incorporation fee includes Panama registered office address and registered agent for the first year.
Shares of Panama IBC may be issued to individuals or companies, who are residents of any country.
A minimum of one shareholder is required. A minimum of one share of US$100.00 must be issued to that shareholder.
If you need a nominee shareholder, our company provides such services.
Directors and Officers
Every Panamanian corporation shall be managed by the Board of Directors. A minimum of three directors is required. Corporate directors are not permitted. All directors must be individuals of full age (at least 18 years old). Residents of any country may be appointed as directors.
The Board of Directors appoints officers such as President, Secretary and Treasurer. Officers shall be individuals as well. Officers may be residents of any country. One person may hold more than one officers positions. No officer needs to be a director.
If you do not have three directors or need extra layer of privacy protection, our company is able to provide nominees.
Standard authorized capital is US$ 10,000 divided into 100 registered shares of US$ 100 each. Such capital keeps the incorporation and annual cost of Panama IBV at a minimum level.
Authorized capital is the amount, which the company may receive from its shareholders in consideration for the issued shares. For example, if a company has the above authorized capital, it is allowed to issue up to 100 registered shares and receive from its shareholders not less that US$100 for each issued share.
Panama Corporation is not required to issue all its shares for the total amount of authorized capital in any mandatory time frames. The company could issue just one share to a single shareholder and remaining shares or any part of them issue any time in the future or not issue at all.
All issued shares must be paid up by shareholders. It means, if a company issued one share of US$100.00, the shareholder must pay into his company US$100.00.
If a Panama Corporation conducts its business outside of Panama, it is exempt from all local taxes including income tax, capital gain tax, dividend tax, and stamp duty on transfer of corporate shares, and other property.
Information about shareholders and beneficial owners is not filed with the Public Registry Office and not available to the public.
Names and addresses of directors and officers are included in the Articles of Incorporation. Therefore, such information is available to the public.
Our company assist clients with protection of their privacy by offering nominee services.
Accounting and Audit Requirements
There are no statutory requirements of accounting and audit for Panama offshore companies. It's totally up to the corporate directors, what kind of records they would like to keep.
Annual General Meeting
Annual meetings are not required. Board of directors may decide to conduct an annual meeting of shareholders. Such meeting shall be held within Panama unless otherwise stated in the Articles of Incorporation or By-Laws.
Time Required for Incorporation
We incorporate Panamanian corporations the same or next business days. If a client needs to get a copy of the Articles of Incorporation, we could email a scanned copy within 2 business days.
Additional 5 to 8 business days are required for preparation of resolutions, share certificates, registers and legalization of corporate documents with Apostille.
We incorporate Panamanian companies and keep them in our office as shelf companies for convenience of our clients. All shelf companies do not have any previous business transactions. When a client buys a shelf company of any age, he may be absolutely confident that he is the first owner of it.
Please check our Shelf Company List.
Virtual Office Services
Our company offers Panamanian mail forwarding services and other tailored office services.