Commercial companies in Panama are regulated in Panamanian territory by the Law of Corporations Law No. 32 of February 26, 1927.
The companies in acronyms S.A. or IBC ?s in English "International Business Corporation", and is presented with terminologies such as S.A., Corp., Inc. are those mercantile corporations whose owners or holders are under a participation in the authorized capital, represented through Share Certificates. The shareholders of a corporation (S.A.) do not respond with their personal patrimony to the debts of the corporation, but solely up to the amount of the contributed capital.
The corporations have been constituted and used by the financial and business community for such diverse and varied purposes as the acquisition of assets, reserve of the identity of their owners, the limitation of the personal responsibility of the shareholders in the achievement of investments or the execution of commercial operations that imply some risk, the acquisition of businesses or structuring businesses or operations or financial transactions of high economic impact, in Panama and abroad.
The Republic of Panama is recognized as an important market for structuring businesses and the execution of extraterritorial transactions; due to its geographical position, it has become a mighty international financial center.
The Panamanian companies buy yachts in the Mediterranean and tanker ships in Asia, are owners of condominiums in all continents, as well as they open banking accounts all over the world, acquires merchandise in the East and constitutes trusts over goods located in Egypt or Moscow, participate in public takeover bids of important companies in Colombia or Peru.
This mixed-use is because of the simplicity with which a Panamanian corporation can be constituted.
The Panamanian companies are subject to the fiscal territorial regime that only demands the payment of taxes for the execution of operations that are understood made in the territory of the Republic of Panama.
The fiscal advantages that our tax legislation offers due to the territorial criterion or the source that is applied in Panama to determine the profits reason of income tax return, leaves exempt the gains that Panamanian and aliens obtain, being natural or legal persons, from the transactions that are completed, attained or have their desired effects outside the national territory.
The corporations shall have to pay annually the amount of US$300.00 as a tax registration or state of being in force, known as Government Tax. At Chen Lee & Associates, you can ask for the registry of your corporation (offshore). We offer the establishment of Offshore Corporations that can be requested from the place where you are, WITHOUT HAVING TO TRAVEL TO OUR COUNTRY.
The corporations in Panama are the most anonymous of the world. To incorporate your “Offshore” corporation in Panama is very easy; only in 3 to 5 DAYS with us.
You will acquire with the corporation the following: Subscribers (Optional), Resident Agent, Original Articles of Incorporation, 2 letters of share transfers from the subscribers (optional), 3 letters of resignation from the directors (optional), 2 Share Certificates, Power of attorney on your name, legal services, translations of the articles of incorporation, power of attorney, and letters.
Order the registration of your Panamanian or Offshore Corporation now. Press here to order.
For more information, contact us at info@chenleeyasociados.com or call us at (507) 360-5533.
