Incorporating
Corporate names are certified by the Official Register of National Industry (Registro Oficial de la Industria Nacional). Names can be in any language, but are required to be suffixed as S.A., Inc., Corp. or Corporation.
There are two types of corporations in Panama: resident and non-resident. Two or more individuals or corporations may start a corporation and articles of incorporation may be executed inside or outside Panama in any language. Corporations may be owned by a single individual or corporation and capital does not have to be held by Panamanians. A foreign company is allowed to have branches or subsidiaries in Panama and numerous entities offer the use of shelf companies to those requiring them.
The Board of Directors must be composed of at least three directors. Directors can be individual or corporate, national or non-national. A President, Treasurer and Secretary are required and one person can hold more than on of these positions. Directors and officers need not be shareholders and shareholder meetings need not be held in Panama.
All corporations are required to have a Registered Agent and only agents can file incorporation documents. Approval is normally granted within one week.
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