Offshore Legal Services
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: email@example.com .
The Annual Renewal Fees are composed of three (3) elements:
1 - Annual
Law Firm's Resident Agent 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.
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
to 30 June 30 June
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:
of Your Entity)
PHYSICAL ADDRESS FOR SENDING COURIER PACKAGES:
of Your Entity)
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.
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)
Bank: HSBC Bank, New York, NY, USA
sending the wire transfer, please confirm our staff by email at (firstname.lastname@example.org
) with the following information:
For paying by Western Union please submit your transfer to the following instructions:
Panama City, Republic of Panama
sending the transfer(s) please email us with the following information:
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 email@example.com
Note: If calling to Panama from the US or Canada, you must dial "011" prior to the country code (507).