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Panama
Jurisdictions

Location
Middle America, between Columbia and Costa Rica
Area
78 200 sq. km.
Population
3 000 463
Capital
Panama City
Language
Spanish, English
Currency
Balboa (PAB), USD
Legal system
based on civil law system
Type of company

Corporation, Limited Partnership, Limited Liability Company

Minimum authorised share capital

not fixed, standard USD 10,000

Paid capital
not fixed
Minimum number of shareholders
one, individual or corporate, resident or not
Minimum number of directors
three (President, Secretary, Treasurer), individuals or corporate, residents or not
Nominee services
available (but must be fully paid)
Bearer shares

available, but not recommended

Public disclosure of shareholders
directors – yes, shareholders - no
Taxation

franchise tax of USD 250

Submit annual return and accounts
no
Annual audit

not required

Shelf companies
available
Time to supply documents
shelf companies – 1 hour, tailor made – 10 days
Need to travel
no
Additional information

Hague Convention 1961 applies

 

Jurisdictions

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FAQ
What is offshore?

The word "offshore" has no precise legal dictionary definition, it simply means "situated or operating in a foreign country or at some distance from the shore" and reflects the fact that most low tax jurisdictions are islands.

read more >>

Portfolio of Laws
- BVI - Trustee (Amendment) Act, 2003

- Cayman Islands - The Companies Law (CAP.22) - (2002 Revision)

- Cyprus - The Income Tax Law of 2002

more laws >>

Comparison Table >>
60 Cannon Street, London, EC4N 6NP,
tel.+44 207-002 1304, +44 207-002 1305, E-mail: gsl@gsl.co.uk
G.S.L. Law & Consulting