To form a Panama Corporation, the first step is to Contact Us to explain your business needs.
The procedure to form a Panama Corporation, is generally as follows:
1. Contact Us. Explain your business needs, goals and objectives, and our lawyers can provide valuable feedback and recommendations on what type of entity is best suited for your needs. We will provide a formal quotation and services agreements as well as payment instructions to proceed.
2. Complete the required forms. Our attorneys will assist you in completing all the required forms and agreements to form a Panama corporation.
3. Selecting the Name(s): On the 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 returned the 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. The first available name selections will be incorporated once we have received payment.
4. Directors: On the application, you should indicate who you want to appoint as directors & officers 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, some 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.
PLEASE NOTE: We DO NOT provide Nominee Directors Services to US Persons (citizens or residents of the U.S.).
Otherwise, if clients prefer to appoint their own directors, they simply complete our order form with the names of the directors that they wish to use (they also must send us a photocopy of their directors passports and a signed authorization letter from each director to be appointed as a director).
5. Share Certificates: On the online order form, clients should inform us as to how they wish to have their corporation share certificates issued. Currently, our law firm policy is to only form companies with Nominative shares, meaning shares that are issued to a specific name, usually the name of our client, or the name of their family trust or foundation if applicable.
6. Payment: On the order form, you should indicate your preferred method of payment. After submitting the 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.