If you have read this far, it means that you are now convinced that a Panama Offshore Corporation is for you, and you are ready to form a Panama corporaiton. Now it is just a matter of clicking on “Order Now” and completing an online order form. Read the simple procedures below to form a Panama Corporation.
1. Personal Information: Complete the online order form with your personal contact details.
2. Indicate what type of entity(s) you want: Indicate whether you want a new Panama corporation, or a Panama shelf corporation. If you choose to purchase a Panama shelf corporation, then you will be issued the first available Panama shelf company, and you can skip the name section of the online application. Also, indicate how many Panama corporations you want to order.
3. Selecting the Name(s): On the online application, you should indicate three name choices for each new Panama corporation. Panama Corporations names can be in any language and must include one of the following corporate suffixes:
Note: For your information, “S.A.” in Spanish means “Sociedad Anonima”, or “Anonymous Society”. This is just another form of saying “Corp.” or “Inc.” in Spanish.
Once you have submitted the online application including the name(s) for your corporation(s), we will check to see if the names you selected are available in the Panamanian Public Registry. We can have this done within a few hours. The first available name selections will be incorporated as soon as we have received payment.
4. Directors: On the online order form, you should indicate who you want to appoint as directors of your corporation(s). Every Panama company requires 3 directors/officers (President, Secretary and Treasurer). The directors/officers can be either individuals or entities.
If you are appointed as director on the Panama corporation, then your name will be publicly known as director since the directors names and identifications must be presented in the Panama public registry when the corporation is formed. Generally, the only documentation on public record is the deed (or articles) of incorporation and the names of the directors/officers and Panama Registered Agent (the registered agent is the Panama attorney or attorneys that forms the corporation).
We offer our clients the optional service of using our “Panama Nominee Directors” for their Panama corporation(s). For purposes of confidentiality and convenience, most of our clients prefer that we provide nominee directors/officers for their corporations. When we appoint Panamanian nominee directors for the entities that we establish for our clients, we always provide our clients with pre-signed, undated letters of resignation from the directors so that our client can replace those directors at any time. The use of our nominee directors is free of charge for the first year (After the first year we charge US$50 per nominee director per year).
Otherwise, if clients prefer to appoint their own directors, they simply complete our online order form with the names of the directors that they wish to use (they also must send us a photocopy of their directors passports).
5. Share Certificates: On the online order form, clients should inform us as to how they wish to have their corporation share certificates issued. The Panama corporation share certificates can be issued either to “The Bearer”, or in Nominative Form (to a specific person or entity). The beneficial owners of the corporation are not required to be recorded in the Panama Public Registry.
The shareholders can be anonymous, which is why Panama corporations are called “anonymous corporations”. In other words, the shares can be issued to “The Bearer”, meaning that the shares are like cash, and can be passed from one bearer/holder /owner to another bearer/holder/owner by a physical certificate. This is a very anonymous and confidential form of ownership, and is another reason why Panama is one of the most popular jurisdictions to incorporate in.
Note: If clients do not indicate their preference for share certificates, then the corporation will be created with the share certificates issued to “The Bearer”.
6. Payment: On the online order form, you should indicate your preferred method of payment. Payment can be made by Bank Wire Transfer, Western Union Cash Transfer, USD Check, Credit Card, or PayPal. For fastest processing, we highly recommend paying by Bank Wire Transfer, Western Union, or PayPal. Checks take several weeks to clear, and we do not begin processing until payment has cleared. After submitting the online application, you will be contacted by our service staff and will be provided with payment instructions.
7. Time Frame: A new Panama corporation can be established within 5 business days. If you wish to expedite the formation of your Panama corporation, there is a $250 expedite fee, and we can have it completed within 24 to 48 hours. Panama shelf corporations are also available if you need a corporation immediately. Shelf corporations are the same, except that they have already been incorporated and are ready to engage in business immediately if you are in a rush to do business very quickly. Simply notify us on the online order form if you prefer a shelf name and we will provide one for you.