Particular features of Panamanian Corporations:
- One of the main benefits of the corporation is privacy for shareholders. Except the requirement for two subscribers to the Social Pacthe, the law does not stipulate a minimum shareholders. A person can be the sole shareholder, through bearer shares.
- Panamanian Companies can be incorporated without regards to the nationality of its directors and shareholders.
- The principle of territoriality, by which any income derived from activities outside the territory of Panama, is free of tax in this jurisdiction Income from foreign sources, are also exempt from taxes on profits, as well as interest from bank deposits.
- The authorized capital does not have to be paid in full or partially.
- There is no need to file any financial reports or tax returns with any government entity in the Republic of Panama, provided that the company does not operate within the territory of Panama.
- Legal entities of any jurisdiction may act as directors, officers and shareholders of a Panamanian Corporation.
- There is no need to hold annual meetings of Directors or Shareholders.
- Directors and Shareholders may attend to the meetings personally, by proxy, by phone or by any other electronic means.
- Three (3) directors are required, either natural persons or legal entities.
- The dignitaries (President, Secretary and Treasurer) do not have to be directors and one person can occupy several or all charges. Natural persons or legal entities can also be appointed as dignitaries.
- Shares may be issued to the bearer or in nominative form. In any event, the name of the shareholder is not require to be registered in the Panamanian Public Registry, thus, ensuring total anonymity.
- A corporation can effectuate transactions and have assets in any part of the world without the obligation of maintaining assets in the Republic of Panama.
- Panamanian Corporations are empowered by law to conduct any lawful act.
- Absence of exchange control.