Registration of Public Limited Companies
Among our products to offer is the register of Panamanian Companies, which have a capital divided into shares with or without nominal value, and their main function is being oriented to the merchant industry.
In the Republic of Panama, Law 32 of 1927 contains everything concerning the legislation of Panamanian corporations. It describes the functions and characteristics that allow local and foreign investors to conduct their business safely and reliably. Our Corporations Law allows the exercise of your business without major complications than those required for the legal maintenance of a legal company, which is not available in other similar laws in the rest of the world.
The registration of a Panamanian corporation is permitted with persons of any nationality as it is a type of company with which businesses can be carried out, both, inside and outside the Republic of Panama.
To continue with the registration of a Panamanian corporation, a document known as the Articles of Incorporation is prepared, which is elevated into a Public Deed and registered in the Public Registry of Panama. Said document can be issued in any language.
As follows, we briefly describe all the information that must be contained in the Articles of Incorporation of a Panamanian corporation, to with:
Object: Contains the details of the services that will be offered by the company. A Panamanian corporation can engage in all kinds of lawful business. This allows the objects to be broad and that the company can dedicate itself to one or several businesses inside and outside the Republic of Panama.
Capital: Represented by shares, the capital stock can be of a minimum amount at the beginning of the company, which can be increased from time to time whenever the orientation of the business of the company requires it.
Subscribers: Two persons of legal age and of any nationality must submit the application for the registration of the company. Said persons are usually persons within our firm who appear before the Notary Public in order to initiate the registration, thus avoiding any delay in the process.
Directors: There must be a minimum of three (3) natural persons of any nationality, whose names and addresses are subject to public registration, for which our firm, at the request of the client, can provide said service of nominal directors, in order to guarantee confidentiality as it is a matter of public record.
Officers: The Panamanian corporation law requires a minimum of three positions of Officers, namely: President, Secretary and Treasurer. These positions may be held by the same person. Our firm can also provide this service with nominal Officers at the request of the client, in order to guarantee confidentiality since this is also a matter of public record.
Duration: The Panamanian corporations law allows them to have an indefinite period, that is perpetual.
Domicile: Which can be within the Republic of Panama or anywhere in the world, in case the company conducts its businesses abroad.
Shareholder: Registered shares are issued specifying the name of the owner. It should be noted that such information is confidential as it is not a matter of public record.
Said shares may be issued in any of the following ways:
Shares with Nominal Value: They have a specific value before being issued, which is established in the Articles of Incorporation.
Shares without Nominal Value: They do not have a specific value and their amount must also be established in the Articles of Incorporation before being issued.
Common Shares: Their particularity is that they give the right to vote within the Shareholders' Meetings.
Preferred Shares: They do not allow the right to vote within the Shareholders' Meetings.
Regarding taxes, please be advised that Panamanian corporations are subject to the payment of a tax called "Tasa Unica", which is paid at the time of registration of the company and every year thereafter. Its annual amount is US$300.
In the event that the company conducts businesses outside the Panamanian territory, the payment of taxes on the income obtained must be reported in the country where said business is carried out.
Finally, we are pleased to confirm that the registration of a Panamanian corporation is extremely simple and fast. It will be a pleasure for us to serve you.
