Procedures for Establishing a Panama Corporation
1. Personal Information: Complete the online application 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 shelf corporation, then you will be issued the first available shelf company, and you can skip the name section of the online application. Also, indicate how many corporations you want of each type.
3. Selecting the Name(s): On the online application, you should indicate three name choices for each 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 application, you should indicate who you want to appoint as directors of your corporation(s). Every Panama corporation requires 3 directors/officers (President, Secretary and Treasurer). The directors/officers can be either individuals or entities.
If our client is appointed as director on the corporation, then his/her name is publicly known as director since the directors names and identifications must be presented in the public registry when the corporation is formed. Generally, the only documentation on public record is the deed (or articles) of incorporation and the names and addresses of the directors/officers and Registered Agent.
We offer our clients the optional service of using our "Nominee Directors" for their corporation(s). For purposes of confidentiality, most of our clients prefer that we provide nominee directors/officers for their corporations. When we appoint 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. There is no additional fee for the use of our nominee directors.
Otherwise, if clients prefer to appoint their own directors, they simply complete our online application 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 application, clients should inform us as to how they wish to have their corporations share certificates issued. The shares 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 Public Registry.
The shareholders can be anonymous. 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/owner to another bearer/owner by a physical certificate without re-registering the shares through a registered agent. 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.
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 application, you should indicate your preferred method of payment. Payment can be made by Bank Wire Transfer, Western Union Cash Transfer, E-gold, USD Check, or USD International Money Order. For fastest processing, we highly recommend paying by Bank Wire Transfer, Western Union, or E-Gold. Checks and International Money Orders take two to three 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 corporation can be established within 3 to 5 business days. 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.
Note: If calling to Panama from the US or Canada, you must dial "011" prior to the country code (507).