Open your company in Panama
Congratulations! you have taken another step to achieve the creation of your Company, now that you know we can help you it is important to be sure of what type of company or business is best suited to your needs, that is to say what vehicle is most appropriate in your journey to achieve your business objectives.
The first thing we have to tell you is that all the options we offer you start from the same base, you have to create a Corporation. However, the difference lies in the use you will make of the company, which basically means the type of company you are going to create and its characteristics.
Who is looking for an offshore company?
An Offshore Corporation in Panama is very useful for all those who are looking for a legal vehicle, whether nationals or foreigners not resident in Panama, through which to carry out their commercial or business activities inside or outside the Republic of Panama. It can be used as long as the activities carried out are legal or licit.
Therefore, if what you want is to have a company with which to manage your business outside of Panama and at the same time help you protect your assets, an Offshore company may be your best choice.
This company, since it is not operational in Panama, that is to say, it does not have employees or services whose income is within the Republic of Panama, guarantees savings in terms of income tax payments.
What can I do with a Panamanian Offshore Company?
Below we detail the advantages of having a Panamanian Offshore Company:
- A Panamanian corporation has the advantage of being able to own or hold assets such as: bonds, securities, ships, air transportation means, shares of other corporations, real estate, which are located anywhere in the world.
- An offshore company protects assets since it offers a high level of privacy regarding the ownership of shares.
- Offshore companies can also own other types of assets, such as trademarks, copyrights, patents. These intangibles can be sold or transferred without having to enter into the sale of patents or trademarks, simply by acquiring the company’s share certificate, they immediately acquire all the assets that are in the name of that company.
- Performance of invoicing and re-invoicing operations. This is an ideal topic if you are looking to invoice or re-invoice businesses that are developed abroad, from an office located in Panama. In this way, the tax margin to be paid in the place where the mercantile or business activity is developed is reduced. The final benefit for the shareholder of the offshore company is that he will not have to pay taxes in Panama since the income generated outside the national fiscal territory is exonerated from taxes.
So if your objective is to protect your patrimony whether it is real estate or intangible assets, an offshore company is undoubtedly the best option.
What taxes should I pay annually for having an active offshore corporation in Panama?
In general, all Corporations in Panama that are active must pay the tax known as “Tasa Única” and this totals US$300.00 (three hundred dollars). The first time the “Tasa Única” tax is paid is at the moment of the creation or registration of the Corporation. This amount is included in the price we offer in the Plan. It is a tax that must be paid every year.
All income generated by the company outside of Panama is exempt from income tax in the Republic of Panama.
Do I need to obtain another type of notice or operations to consider that the offshore company is active?
If your objective is not to open an office in the Republic of Panama, nor to hire employees in Panama, you are not obliged to obtain any Notice of Operations from the Ministry of Commerce of the Republic of Panama, nor from the corresponding Municipality.
-You need a legal vehicle through which to exercise commercial or business activities outside the Republic of Panama. This is the ideal plan.
-You will pay only the tax known as “Tasa Única” which is 300 US dollars a year. You do not pay taxes on activities whose income is generated outside the Republic of Panama.
-If you are looking to protect a patrimony, understood as: intangible goods (brands, etc.), real estate, securities, bonds, etc., this plan is the recommended one.
-Search for confidentiality, this company guarantees it
For more information do not hesitate to contact us by clicking here
We can help you get started, if you want you can do it by sending us (with no obligation) more information, you can do it very fast by completing in only 3 steps the following application form, the sooner you start the sooner you can fulfill your dreams.
As we mentioned before, the creation of a company is based on the use of certain legal mechanisms, that is to say, independently of your need (which is what will determine how far you go) the main thing is that you have to create a corporation, what you need afterwards will depend on what you need that corporation for.
Who wants to have a Panamanian Corporation with operations in Panama?
When we refer to an operating corporation we mean those that at the time of creation seek to have a local business activity in Panama, selling goods in Panama or anywhere. That is to say, it is a company that fits the profile of the Entrepreneur (either national or foreign), that person who has a business idea and wants to develop it. They are also suitable for those who are looking to expand their activities to Panama, that is to say, they want Panama to become their headquarters in Latin America, for example. The important thing in this case is that the commercial activity is carried out in Panama. Therefore, those entrepreneurs, small businesses or traders need much more than an offshore corporation, they need a corporation that is also covered by other necessary aspects, which the Law requires to operate such as: a Notice of Operations that is managed before the Ministry of Commerce and Industries of Panama (whose management cost is included in the Plan); an inscription in the corresponding Municipality (whose management cost is included in the Plan); payment of taxes, the first “single fee” of the Corporation is also included in the Plan. In addition to the above, we recommend that you have an accounting service in Panama with Certified Public Accountants, this service is not contemplated in the Plan but we suggest that you contract it with Legal Solutions Panama, so we can guarantee that all your management will be in good hands.
What can I do if I have an Operating Company in Panama?
In addition to all that we mentioned for the Offshore Company (remember that the base is the same, the company is based on a corporation), with an Operating Company and with the obtaining of the permissions and notices that it entails you will be able to have your commercial premises or office, you will be able to sell your goods and services, in general you will be able to develop all type of legal mercantile activity according to the Panamanian laws.
What taxes do I have to pay annually when I have a corporation operating in Panama?
All the Corporations must pay the tax known as “Tasa Única” at the moment of its inscription, its cost is $ 300.00 (three hundred American dollars), that must be done annually. The first time that it is paid is at the moment of the inscription of the corporation.
In addition to this tax, companies operating in Panama, that is to say, those that generate business from and in the Republic of Panama must pay the corresponding income tax (ISR), since the income is being generated in Panamanian territory. Therefore, it is important to know that every corporation that generates income within the Panamanian territory must pay a 25% tax on the profits obtained.
What would be the annual payments that my company must make for being operational in Panama?
In summary, the annual payments would be:
- Corporation tax “Tasa Única” of $300.00 (three hundred American dollars), once a year.
- Income Tax, for all income generated within the national territory. It would be equivalent to 25% on the profits obtained.
- Annual payment to the lawyer who is constituted as the Resident Agent of the Company created by you. Take into account that this fee will be automatically deducted from your card, since the procedure will be carried out by the lawyer who created the company, as long as you have not notified the change of Resident Agent during a previous period of 3 months before the payment. The amount to be paid will be as agreed at the time and varies between US$250.00 (two hundred and fifty US dollars, if you have appointed your own directors) or US$450.00 (four hundred and fifty US dollars if there is a nominee directors service contract).
In case you would like to move forward with the formation or creation of your operating company in Panama, you can start by completing the following form (no obligation) and you will be closer to opening your business.
The legal basis is the same as the one described in the Plan of Creation of the Company, that is to say, the constitution of the Corporation in Panama must be carried out, then the Notice of Operations must be requested and later the inscription in the corresponding Panamanian Municipality, that is to say, the procedures are the same, what changes is an additional service that we offer according to a specific need. With the virtual office that we provide you will save in the payment of office rent in Panama, in social security costs, in service costs (water, internet, electricity, telephone, etc.), even in the management with suppliers..
Who demands this type of Operating Company in Panama with a Virtual Office?
With the current developments, it is not necessary to be physically in a place to operate or carry out commercial operations, therefore this Plan is suitable for all those who develop their activities within the Republic of Panama but who, due to the nature of their commercial activity, do not need to have an on-site workforce or office. That is to say, if you are a subsidiary, if you have a client in Panama but your professionals are in other parts of the world, if you are going to generate business but cannot assume expenses such as: payment of a monthly office or monthly rent; payment of social security to workers, payment of various services such as electricity, water, internet, etc., we offer you a tailor-made solution, we can become your virtual office.
What services does it include to have the virtual office with the Affiliates or Professionals of Legal Solutions Panama?
In our case we offer you the following services included in your virtual office, you can even choose a Basic or Premium Plan according to what best suits your needs:
The basic plan we offer you includes:
›Invoicing (0-10 per month)
›Sending invoices to customers (via email, via our platform or courier)
Total cost of basic service= $300.00 (three hundred US dollars)
If your business demands more services, we offer them too. This Premium Plan includes:
›Invoicing (0-50 per month)
›Sending invoices to customers (via email, via our platform or courier)
›Invoice receipt (0-50 per month), invoice scanning and receipt communication to the customer.
›Payment to suppliers
›Authorization to issue checks and send them to suppliers
Total cost of the service or Premium Plan is $450.00 (four hundred and fifty US dollars) per month. This service can be tailored to your needs and we will provide you with an estimate according to your requirements in case your metrics are different.
If you want more information about this service, you can contact us by clicking here
If you find this plan interesting and you want to send us more information, click on the form and we will answer your request without any obligation