Panama company register

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Panama Company Register

General Information
Company Law	Company Law No. 32 1927
Type of Company	Corporation
Language of Legislation and Corporate Documents	Spanish
Taxation of Foreign Profits	Nil
Exchange Controls	None
Length of Time to Incorporate	5 working days
Shelf Companies Available	Yes
Corporate Names
Name Restrictions	Names identical or similar, offensive words
Endings and Abbreviations Required	Corporation, Incorporated, Sociedad Anonima, or its abbreviations
Length of Time to Verify Name Availability	2 hours
Reservation of Names Permitted	Yes
Language of Name	Any language using the Latin alphabet
Name of Banks, Insurance, Investment Fund, Trust Company or their equivalents requiring consent or license	Yes
Capital and Shareholders
Minimum Number of Shareholders	One
Local Shareholders Required	No
Corporate Shareholders Permitted	Yes
Disclosure of Shareholders	No
Minimum Authorised Capital Required	Yes
Bearer Shares Permitted	Yes
Registered Shares Permitted	Yes
No Par Value Shares Permitted	Yes
Directors and Officers
Minimum Number of Directors	Three natural persons or corporate bodies
Qualifications of Directors	Legal age
Officers Required	Yes
Corporate Directors/Officers Permitted	Yes
Local Directors/Officers Mandatory	No
Appointment of Subsequent Directors/Officers	Articles of Incorporation
Meetings
Annual General Meeting of Shareholders Required	No
Annual General Meeting of Directors Required	No
Location of Directors and Shareholders Meetings	Anywhere
Adoption by Consent Permitted	No
Quorum required for purposes of meetings	Articles of Incorporation
Local Requirements
Qualified Registered Office/Agent	Yes/Yes
Government Register of Shareholders	No
Government Register of Directors/Officers	Yes
Government Register of Charges	No
Register of Directors/Officers to be kept at Registered Office	Yes
Company Seal Required	No
Copy of Minutes to be kept at Registered Office	No
Copy of Share Register to be kept at Registered Office	No
Annual Requirements
Minimum Annual License Fee or Franchise Tax	US$300
Annual License Fee or Franchise Tax Due Date	July 15 (for companies incorporated from January to June) January 15(for companies incorporated from July to December)
Applicable Surcharges	US$50 (Additionally a US$300 penalty applies for nonpayment of more than one franchise tax)
Requirement to File Annual Returns	No
Requirement to Submit Annual Audited Accounts	No
Other Relevant Information
Member of Apostille of the Hague Convention	Yes
Increase or Reduction of Capital	Shareholder's resolution
Redomiciliation Prohibited	No
Reinstatement at Registry	No
Removal from Registry	Even if a company is dissolved, its corporate documents are kept at the Registry.