Company registration · Panama
Company registration in Panama territorial tax and settlements in dollars
- Support
- from $1 600
- Registration time
- US dollar
Foreign-sourced income is outside the Panamanian charge, settlements run in US dollars and the country operates the largest ship registry in the world.
A jurisdiction for owning assets and maritime activity.
Registration
from $1 600
Turnkey work by BRIDGES. Government fees and duties appear as a separate line in the estimate at actual rates.
See packagesUS dollar
The country’s main settlement currency
Territorial tax
Only Panamanian-sourced income is taxed
5-10 days
Incorporation with the registry
Who it suitsPanama
Who Panama suits
Working on the company structure- 01Owning assets and shares in other companies
- 02Ship ownership and maritime activity
- 03Trade with Latin American markets
- 04Private foundations for succession planning
- 05Structures settling in US dollars
Does not suit
- You need EU market access and EU VAT
- You are counting on anonymity: a beneficial ownership register is maintained
- Working with European corporate clients
- You expect a simple account with no checks
Company forms4
Which company to open
The classic Panamanian corporation is complemented by the private foundation and partnerships.
- 01Sociedad Anonima · SA — Panamanian corporation
Asset ownership, trade, ship ownership.
A time-tested form recognised in international transactions.
Three directors and a local agent are required.
- 02Sociedad de Responsabilidad Limitada · SRL — limited liability company
Small business and joint projects.
Simpler to manage than a corporation.
Less familiar to international counterparties.
- 03Fundacion de Interes Privado · private foundation
Succession planning and asset protection.
Assets are separated from the founder’s personal property.
Tax consequences are assessed for the beneficiary.
- 04Company for a vessel · maritime structure
Ship owners and maritime operators.
The largest ship registry in the world with well-established procedures.
Technical and insurance requirements must be met.
Packagesfrom $1 600
Three ways to launch
The scope is built from real scenarios, from asset ownership to a maritime structure.
01 · 1-2 weeks
Company
from $1 600
Owning assets and shares
- Name check and preparation of the constitution
- Incorporation of the corporation through a local agent
- Local agent and address for the first year
- Full set of corporate documents with apostille
- Arrangements for keeping accounting records
02 · 6-12 weeks
Company and account
from $3 900
A working structure settling in dollars
- Everything in the Company package
- Bank file and submission to local banks
- Certificates and apostille for the bank
- Preparation of the business description and contracts
- Support with correspondence and meetings through to the result
03 · from 4 weeks
Foundation or maritime structure
by project
Succession planning or ship ownership
- Everything in the Company and account package
- Establishment of a private foundation or registration of a vessel
- Drafting the foundation statutes and appointing the council
- Support with the ship registry
- Agreeing the tax position of the beneficiaries
Registry fees and agent fees appear as separate lines in the quote. The banking review takes longer than the incorporation.
TaxesPanama
Taxes in Panama
A territorial basis applies: income from sources within the country is taxed.
Taxes in Panama
Panama
- US dollar
- The country’s main settlement currency
- from $1 600
- BRIDGES fee
- Territorial tax
- Only Panamanian-sourced income is taxed
- 5-10 days
- Incorporation with the registry
- Income from foreign sources
- Not taxed in Panama.
- Income from local sources
- Subject to corporate income tax under the general rules.
- Value added tax
- Applies to transactions within the country.
- Accounting records
- Mandatory to keep and store in the prescribed manner.
- Beneficial ownership register
- Information is provided to the agent and available to the competent authorities.
- Tax at home
- Controlled foreign company rules apply in full.
Annual upkeep
- Annual government fee
- Local agent and address
- Accounting records
- Tax reporting
- Updating beneficiary details
- Renewal of certificates
- Bank compliance
- Vessel fees
Registry fees and agent fees appear as separate lines in the quote. The banking review takes longer than the incorporation.
Bank
The bank account after incorporation
Panamanian banks work with international clients but review applications slowly and in detail.
- 01What the bank looks at
The activity, the counterparties, turnover, the origin of capital and the beneficiaries’ tax history.
- 02Which documents are needed
The corporate set with apostille, contracts, evidence of the source of funds and references.
- 03Where the account is opened
With local banks and with payment institutions for operating settlements.
- 04What we do
We prepare the file, choose the bank and support the submission, including the meetings.
The review takes weeks and sometimes months. The bank requires full transparency: without a documented source of funds the account will not open.
Stages1-2 weeks
How the work runs
Timelines are split by who is responsible.
- 01Consultation and structure
Activity, source of income, the account, company form.
One meeting - 02Quote and contract
We fix the scope of work and the amount.
1-2 days - 03Agent compliance
Verification of beneficiaries and collection of the set.
3-10 days - 04Incorporation
Filing with the registry and issue of apostilled documents.
5-10 days - 05Bank file
Preparing documents, references and the business description.
1-2 weeks - 06Account and launch
Submission, meetings and account opening.
The bank sets the timing
Result: The outcome is a Panamanian structure with a full set of documents, settlements arranged in dollars and accounting records properly kept.
ComparisonPanama
Panama or the UAE
| Panama | UAE | |
|---|---|---|
| Corporate tax | territorial basis | 9% with a tax-free threshold and free zone regimes |
| Settlement currency | US dollar | dirham pegged to the dollar |
| Bank account | realistic, with a long review | realistic with a local presence |
| Reputation | offshore | neutral and improving |
| Ship registry | the largest in the world | developing |
| Presence | not formally required | office and visa where needed |
| Who it suits better | asset ownership and vessels | operating business and trade |
Panama is strong on maritime matters and asset ownership; the UAE on operating trade and how counterparties perceive you.
TeamBRIDGES
Company team
Questions
Registration questions
Does a Panamanian company pay tax?+
A territorial basis applies: income from foreign sources is not taxed, while income sourced in Panama is.
What currency is used?+
The US dollar circulates alongside the national currency, and settlements are made in dollars.
How long does incorporation take?+
Five to ten days with the registry after agent compliance.
How many directors are required?+
A corporation requires three directors; they may be individuals or legal entities.
How hard is it to open a bank account?+
Banks work with international clients, but the review is long and requires two references and evidence of the source of funds.
Is the owner visible?+
There is no public register of beneficial owners, but the information is provided to the agent and available to the competent authorities.
Do I have to keep accounts?+
Yes, keeping and storing accounting records is mandatory.
What is a private foundation?+
A structure with no members that owns assets for the benefit of beneficiaries; it is used for succession planning.
Can I register a vessel?+
Yes, the Panamanian ship registry is the largest in the world and its procedures are well established.
Can I operate inside Panama?+
Yes, but that requires a commercial licence and the income is taxed.
Do I have to declare the company at home?+
Yes. Controlled foreign company rules apply in full.
What does upkeep cost?+
The government fee, the agent, record keeping and, where required, apostille and ship registry fees. We set it out three years ahead.
A company for your task
Tell us what the company will do: we will check whether the country fits and show the launch and upkeep budget before the contract.
- Other jurisdictionsA comparison of countries for company registration.
- A company in BelizeA cheaper neighbouring jurisdiction.
- Corporate accountsHow an account is opened and what the bank checks.
- BelizeRegistration: 3-7 days · from $950
- BVIRegistration: 3-7 days · from $1 900
- Cayman IslandsRegistration: 1-2 weeks · from $4 500
Company registration
Want a company in Panama?
Write to us, we will set it up. We will choose the form, calculate the launch and the annual upkeep, register the company and help open the account.
