Panama Panama is located on the narrow strip of land that connects North and South America. There is an estimated population of 3.4 million people. Panama’s key geographic position has been conducive to its specialization as a service country. The Panama Canal and the Colon Free Zone are at the forefront of this development. The official language is Spanish and its currency is the US Dollar legal tender, which circulates freely in Panama. Panamanian law is based on the Spanish Civil Code, although the company law has been taken from the corporation law of Delaware in the USA.

Highlights of Panama Companies

  • No tax on activities carried out outside of Panama
  • Bearer shares permitted
  • Confidentiality on beneficial shareholders information through use of nominee shareholders allowed
  • Well developed professional infrastructure
  • Neutral tax jurisdiction
  • Regulated financial services industry
  • No exchange controls

General Information

Type of Company Corporation
Companies Law Company Law No. 32 1927
Minimum Director Three
Minimum Shareholder One
Bearer Shares Permitted Yes
Corporate Shareholders Yes
Corporate Directors Yes
Disclosure of Ownership Yes (although use of nominee shareholders permitted)
Disclosure of Directors Yes
Corporate Seal Required No
Annual accounts filing No (conditional)
Annual returns filing No (conditional)