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A. General Information About Panama Corporations
B. Panama Corporation Facts
C. Panama Corporation Tax Information
D. Panama Corporations Law
E. Procedures for Establishing a Panama Corporation
F. Exclusive Panama Corporation Package Offer

G. Complete Offshore Structure Package Offer
H. Renewal and Taxes Notice


RENEWAL AND TAXES NOTICE

Panama Offshore Legal Services
Sun Towers Building, 1st Floor, Office #39
Via Ricardo J. Alfaro
Bethania, Panama City
Dear Sir or Madam:

We hope this email finds you well. We wish to communicate to all our clients about the annual renewal fees of Panamanian entities (corporations & foundations). The information pertaining to annual resident agent fees and the government corporate franchise tax was sent to you in the package of corporate documents you originally received when you purchased the entity(s). The purpose of this notice is to remind you of this topic.

After reading this notice, you will need to contact us regarding your entity(s) balance to bring them to good standing with our law firm and with the government of Panama. For this information, please contact us by email at: renewals@pos-inc.com .

ANNUAL FEES

The Annual Renewal Fees are composed of three (3) elements:

1 - Annual Law Firm's Resident Agent Fee (Mandatory)
2 - Annual Law Firm's Mail Forwarding Fee (Mail Drop Service - Optional)
3 - Annual Government Corporate Franchise Taxes Fee (Mandatory)

Below you will find the detail of each of these elements.

ANNUAL LAW FIRM'S RESIDENT AGENT FEES

This shall serve as a guide to clarify the annual resident agent fees for your corporation and/or foundation. The law of Professional Legal Services of Panama, authorizes Panamanian law firms to charge annual fees for resident agent, nominee directors, registered office and corporate administrative fees.

To keep a corporation or foundation in good standing with our law firm, each entity must pay an annual fee of US$450 per year, which is broken down as follows: US$300 for resident agent/office & US$150 for nominee directors..

Our law firm's annual fees are due each year, starting one year from the date of incorporation. Payment of our law firm's annual fees may be paid by any of the methods mentioned below.


ANNUAL CORPORATE FRANCHISE TAXES

This shall serve as a guide to clarify the annual government corporate franchise taxes for your corporation and/or foundation.

To keep a corporation or foundation in good standing with the Panamanian Government, each entity must pay a flat annual tax of US$250 to the Panamanian Government ( Public Registry) in concept of corporate franchise taxes since the date that the entity was incorporated.

If the corporate franchise taxes are not paid, the Public Registry will not permit any changes to the entity at the Public Registry, and will not allow you to obtain any Certificates of Incorporation for the entity, which are generally required by financial institutions from time to time, as part of their due diligence procedures/policies.

According to Panamanian Law, the government corporate franchise tax payment deadlines are based on the Incorporation date, as follows;

Incorporation Date Tax Payment Deadline

1 January to 30 June 30 June
1 July to 31 December 31 December


Late Payment Penalty:

If the flat annual government corporate franchise tax ("tasa unica") is not paid on or before the due dates mentioned above, the entity will be charged a late penalty of US$50.00.

Second Late Payment Penalty:

If the flat annual corporate franchise tax ("tasa unica") is not paid after the second "deadline" period, the entity will be charged a second late penalty of US$250.00. For every additional "deadline" period missed thereafter, a US$250 late fee will be incurred.

MAIL FORWARDING INSTRUCTIONS

Mail forwarding services provides you with a post office box, and a physical address in Panama where your corporation and/or foundation may receive post mail correspondence or courier packages. As the mail and/or packages are received, they are forwarded to you as per your instructions. The addresses provided below are the addresses that you may use for your corporation and/or foundation to receive post mail and couriers.

If you have subscribed to the Mail Forwarding Service, then you paid for the first year of service. To renew your Mail Forwarding service, there is an annual fee of $300.00.

POSTAL ADDRESS FOR SENDING POST MAIL:

(Name of Your Entity)
PO Box 5956, El Dorado,
Panama City, Republic of Panama
Zona 6

PHYSICAL ADDRESS FOR SENDING COURIER PACKAGES:

(Name of Your Entity)
Sun Towers, 1st Floor, Office # 39
Ave. Ricardo J. Alfaro,
Panama City, Republic of Panama
Tel: 507.236.7069

Please note that we forward mail correspondence (letters and small envelopes) by regular post mail at no cost to you, however, for boxes or courier packages, we bill you for the cost of forwarding these types of packages.


Payment Options:

We highly recommend that you pay by Wire Transfer or Western Union for fastest delivery. The instructions for these payment options instructions listed below:

For Payment by Wire Transfer: (Please add $15.00 to the total of your service for the wire transfer charge)

Intermediary Bank: HSBC Bank, New York, NY, USA
452 Fifth Avenue
New York, N.Y. 10018
U.S.A.
Fedwire: 0211001088
ABA #: 021001088
SWIFT: MRMDUS33
Beneficiary Bank: Credicorp Bank, Panama City, Rep. of Panama
Plaza Credicorp Bank, Calle 50
Panama, Republic of Panama
Beneficiary Bank Account #: 000-047490
Final Beneficiary Name: Online Products, Inc.
Final Beneficiary Account #: 4010024632

After sending the wire transfer, please confirm our staff by email at (renewal@pos-inc.com ) with the following information:
1. Date wire was executed.
2. Exact amount sent & name of account sent from.
3. Name/address of bank where funds were wired from.
4. If you have a wire confirmation sheet from your bank, please fax it to either our US fax: 1-800-716-3452, or our Panama fax: ++(507) 236-7150.

Western Union:

For paying by Western Union please submit your transfer to the following instructions:

Location: Panama City, Republic of Panama
Name: Online Products, Inc.
Tel: 507.236-8303
Street Address: Sun Towers, #39, Panama City, Panama

After sending the transfer(s) please email us with the following information:
Date Sent:
Amount Sent:
Name of Sender:
Sending Location:
Money Transfer Control Number:
Password (if any):

Please note: we do not request payment confirmation from our local Western Union agent until we receive the transfer information requested above so it is important to forward this information right away.

CHECK PAYMENTS: Check payments are accepted by certified or official bank checks in USD, or International Money Orders payable to Online Products Inc., however, we do not recommend check payments for annual fee renewals because they can take up to 6 weeks to clear and we do not begin processing until payment has cleared (delays in payment processing times can incur in late penalty fees of Corporate Franchise Taxes as noted above). If you require a different form of payment, please contact us at renewals@pos-inc.com

Order Now or Contact Us Today!!

 


Tel (Panama): ++ (507) 227-6645
Fax (Panama): ++(507) 227 7485
Toll Free Voicemail / Fax (USA): 1-800-716-3452

Note: If calling to Panama from the US or Canada, you must dial "011" prior to the country code (507).

Email: info@p-wos.com
Encrypted Email: posinc@hushmail.com

P-WOS, Inc.
PTY 296, PO Box 0832 - 2745, WTC
Panama City, Republic of Panama

 

© Copyright 2000 - 2006 Panama Wholesale Offshore Services, Inc. All rights reserved. No part of this publication may be reproduced, stored in a retrieval system or any computer network, or transmitted, in any form or by any means, electronic, mechanical, electro-optical or otherwise without the prior written permission of the copyright holder for which written application should be made.

DISCLAIMER: Panama Wholesale Offshore Services, Inc. is not a bank, nor does it provide banking services. Panama Wholesale Offshore Services, Inc. offers international company formation, corporate administration services, and bank/broker introductory services and account opening assistance. This website is only used for promotional marketing purposes of Panama Wholesale Offshore Services, Inc. and is not intended to portray that this is the site of a bank.

FURTHER DISCLAIMERS & NOTICES