Two or more persons (called “subscribers”) of any nationality and with residence in any country may form a Panama Corporation by executing an Incorporation Charter (or Memorandum of Association).
Traveling to Panama or going before a Panamanian Consul abroad is not necessary to form a Panama corporation. Two individuals domiciled in Panama may act as the subscribers of the company on your behalf and they can afterwards assign their stock subscription rights to you as the first shareholder.
You can execute the Incorporation Charter in any language of Latin Characters.
If drafted in a language other than Spanish, a Spanish translation must be part of the Incorporation Charter.
Although other information may be included in the Incorporation Charter, the following information must be part of the Charter:
The Incorporation Charter may provide for other provisions, such as share transfer restrictions, preemptive rights in the event of the issuance of new shares, powers of the officers to bind the corporation, powers of attorney and others
Unless the Incorporation Charter provides otherwise, neither the Directors nor the Officers of a corporation need to be stockholders. The shareholders, directors and officers may be of any nationality and do not need to be residents of Panama.
The law allows for meetings of Shareholders and Directors to take place in any country.
The subcategory of Permanent Resident as Qualified Investor has been created in the Republic of Panama within the immigration category of Permanent Resident for Economic Reasons. This subcategory was created by Executive Decree No. 722 of October 15, 2020 promulgated through Official Digital Gazette No. 29136 of October 16, 2020, the date of its entry […]
Through Law 159 of August 31, 2020, the Special Regime for the Establishment and Operation of Multinational Companies for the Provision of Services Related to Manufacturing (EMMA), was created. Its purpose is to attract and promote investments in production processes and the generation of jobs and technology transfer, as well as to make Panama more […]
Today, August 3, 2020, Law 157 of the same date, establishing temporary employment protection measures for companies affected by COVID-19, was promulgated. The main aspects of this law are the following: This law applies to companies that closed their operations, totally or partially, from the beginning of the state of national emergency due to COVID-19 […]
On July 2, 2020, Executive Decree No. 100 of July 1, 2020 entered into force in Panama, extending the temporary suspension of the effects of employment contracts and dictating other provisions. Companies whose restart of operations has not been authorized The temporary suspension of the effects of the employment contracts of companies whose restart of […]