How to Open a Panama Pawn Shop

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Panama Pawn Shop

Just like in the U.S. and Canada, Panama has pawn shops for people to deposit valuables and receive money as loans with the personal property being the security to repay the loan.

Panama’s Ministry of Commerce & Industry oversees finance companies in which a Panama pawn shop is considered.

Here are the requirements in order to obtain a Panama Pawn Shop permit:

Natural Person

1. Submit completed and signed license application form.

2. Submit police report of criminal background check.

3. Submit a copy of a typical (model) loan contract form.

Legal Entity

1. Submit a completed and signed application form.

2. Submit a police report of criminal background check.

3. Submit a certified copy of the Public Registry Certificate that the legal entity is in good standing.

4. Submit a copy of a typical (model) loan contract form.

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