1.

Choose the business form: 

There are several types of companies available, however, the S.A. or joint-stock company is one of the most popular and suited to many business purposes.

2.

Draft the company documents: 

Investors are required to draft and then sign the company’s constitutive documents; we detail their content below.

3.

Register the company: 

The new legal entity is to be registered with the Public Registry.

4.

Open a bank account in Panama: 

This step can take place before registration if needed; the company will be required to have a local corporate bank account.

5.

Obtain licenses: 

Some business activities require extra licensing, as per a particular business field; a financial services license is required for companies in this field, issued by the Superintendency of Banks.

When they open a company in Panama, most often in the form of the International Business Company (IBC), investors will need to have a registered office in the country. This condition applies throughout the world when forming a new legal entity and it is no exception in Panama. However, this registered address does not need to be the same location from which the business performs its activities.

As a manner of increasing the flexibility for the business even more, investors can open to work via a virtual office. This is similar to a regular or traditional office space, however, it involves fewer costs because there is no need to buy or rent an office space. The address is located in a prestigious office building and the virtual office package will include minimum secretarial services as well as additional ones as needed (and meeting room space as scheduled). Working via a virtual office is suitable in many cases when opening an offshore company and it is a good option for most of the current offshore uses in Panama.

Panama company formation is a simple process, especially when guided by a team of local experts. We recommend reaching out to our agents for more information on the process, in order to ensure that the incorporation takes place as fast as possible. The usual time needed to open a company is approximately five business days. In certain cases, our team can provide an expedite incorporation, under certain conditions. An alternative to incorporating a new S.A. or another type of company is to purchase an already existing and registered shelf company in Panama. Our agents can also provide details on this option.