Renewal of Panama Corporations & Panama Foundations and Panama Taxes Notice

The annual maintenance costs for Panama Corporations and/or Panama Foundations are the following:

Description	Paid To	Frequency	Required	Amount
Corporate Franchise Tax	Government	Annually	Mandatory	$300
Resident Agent / Office Fee	Law Firm	Annually	Mandatory	$300
Nominee Directors Fee	Law Firm	Annually	If Applicable	$150
Mail Drop Services Fee	Law Firm	Annually	Optional	$300

Below you will find a detailed description of each of the above mentioned annual costs.

CORPORATE FRANCHISE TAXES FOR PANAMA CORPORATIONS AND FOUNDATIONS

To keep a Panama corporation or Panama foundation in good standing with the Panamanian Government, each entity must pay a flat annual Panama corporate franchise tax ("tasa unica") of US$300 to the Panamanian Government (Public Registry of Panama).

Please note that if the annual Panama corporate franchise taxes are not paid, the Public Registry will not permit any changes to the entity to be recorded at the Public Registry, and will not allow you to obtain any Certificates of Incorporation (certificate of good standing) for the entity, which are generally required by most financial institutions from time to time, as part of their due diligence procedures/policies. In addition, certificates of good standing are generally required for transferring property titles held in Panama corporations and/or Panama foundations.

According to Panamanian Law, the Panama corporate franchise tax payment deadlines are based on the Incorporation date, as follows;

Incorporation Date:	Tax Payment Deadline:
From 1 of January to June 30:	July 15
From 1 of July to December 31:	January 15

Late Payment Penalty:

If the annual Panama corporate franchise tax ("tasa unica") is not paid on or before the due dates mentioned above, the entity will be charged a late penalty of US$50.00.

Second Late Payment Penalty:

If the annual Panama corporate franchise tax ("tasa unica") and first late penalty is not paid after the second "deadline" period, the entity will be charged a second late penalty of US$300. For every additional "deadline" period missed thereafter, a US$300 late fee will be incurred.

RESIDENT AGENT / REGISTERED OFFICE FEES

The resident agent is the Panamanian law firm or Panamanian attorney that represents the Panama entity (Panama corporation and/or Panama foundation).  The name of the Panamanian law firm or Panamanian attorney and office address of the Panama entity is stated on the public deed (articles of incorporation) of the entity at the Public Registry of Panama. To keep a Panama corporation or Panama foundation in good standing with our law firm, each entity must pay an annual resident agent / office fee of US$300 per year, starting one year from the date of incorporation.

NOMINEE DIRECTORS FEE

Nominee directors or nominee council members are an optional service provided by our law firm. If requested, our law firm provides the directors or council members that are required for the formation of the Panama corporation or Panama foundation. The fees for nominee directors or foundation council services are $150 per year (includes 3 directors), starting one year from the date of incorporation.

MAIL DROP SERVICES

Mail drop (or mail forwarding) services provides you with a post office box in Panama, and a physical address in Panama where your Panama corporation and/or Panama foundation may receive post mail correspondence or courier packages. As the mail and/or packages are received, they are forwarded to you as per your instructions. If you have subscribed to the Mail Forwarding Service, then you paid for the first year of service at the initiation of your subscription. To renew your Mail Forwarding service, there is an annual fee of $300.

For questions or information regarding annual renewals please email: renewals@pos-inc.com , or call our offices at ++(507) 227 - 6645

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