The Complete Handbook: How to Establish Panama Offshore Company

The Complete Handbook: How to Establish Panama Offshore Company

Most investors and business individuals opt for offshore company formation. They prefer doing business in offshore locations such as Panama, Seychelles, Belize, and the British Virgin Islands. Each of these locations has its own advantages, but today, we are going to discuss Panama in particular.

Panama has a history of stable economic growth. The stringent rules, a thriving banking industry and essential privacy characteristics have made Panama a desirable place to establish offshore companies.

The Key Benefits of Panama Offshore Company Formation

The following are some advantages of considering Panama for offshore company formation.

  • Politically stable business environment for conducting offshore business
  • Strict shareholder and director confidentiality
  • There is no minimum paid-up capital requirement
  • There is no need to do an annual audit
  • Affordable company setup cost
  • Streamlined company incorporation process
  • Quick banking assistance
  • Favorable tax laws
  • Asset protection

A Simple Step-by-Step Guide to Starting an Offshore Company in Panama

When setting up any business, knowing the steps for company incorporation is essential. Our group of incorporation experts in Panama has listed them below for your better understanding.

When you decide to proceed with Panama offshore company formation, the primary task is to seek assistance from a business consultant. The business expert will act on your behalf in every follow-up, such as documentation, bank account opening, and submission of application forms, and help you reduce your burden and save money. 

After that, you need to finalize a business structure. Choosing a legal structure based on your business needs can be challenging. To make the process easier, contact Business Setup Worldwide.

Once you are done with finalizing a business structure, you must give a name to your Panama offshore company. The name should be unique and not in use by any other business.

After choosing a business name, the next step is to submit the necessary documents required for Panama company registration to the concerned authority.

The following are some of the documents required for company registration in Panama

  • Certified proof of address
  • Certified passport
  • Business plan

Once you submit the documents required for a Panama offshore company, you have to wait for the relevant authority to accept your business proposal. The difficulty level in getting the approval may vary depending on your choice of business jurisdiction. 

After following all the steps, you have to focus on opening a bank account. Opening an offshore bank account in Panama requires some additional documentation. In order to carry out the transactions and open the bank account in an effective manner, seek the assistance of a business setup consultant.

Our Role in Supporting Clients

After reading the requirements for setting up an offshore company in Panama, if you still have doubts, then contact Business Setup Worldwide. The business advisors at BSW are experienced in the Panama company setup and help you in solving your business queries.

FAQs

What is the VAT rate on products in Panama?

The VAT rate on products in Panama is given below:

  • 7 % for certain products and services
  • 10% for alcohol
  • 15% for cigarettes.

 

What are the different types of Panama offshore companies?

  • Trading Company
  • Shipping Company
  • Services Company
  • Investment Company
  • Holding Company

 

 

What are Panama's main business sectors?

 

  • Manufacturing
  • Travel and tourism
  • Logistics

 

What are the required documents for offshore company formation in Panama?

The required documents for offshore company formation in Panama are

  • Name of the proposed corporation
  • The name and address of your proposed or nominated shareholders.
  • Your corporate goals and your company
  • Your suggested corporate capital contribution
  • Addresses and names of directors (or nominees)
  • Your company's registered agent information and address