PANAMA

Panama Non-Resident Corporations

Panama companies are created under the General Corporation Law, Law 32 of February 26, 1927.

Requirement:

Organizers, Directors and Officers

• Two local persons appointed to act as the organizers and subscribers.
• A minimum of three directors is required.
• Panama offshore companies require officers for the position of President, Treasurer and Secretary. An officer may hold more than one position, but the President and Secretary should not be the same person. There is no maximum to the amount of officers appointed. The Director can be an officer of the company.

Shareholders and Directors Meetings

• Meeting of Shareholders and/or Directors may be held anywhere in the world; or by phone or any other electronic means.
• Annual General Meetings of the Shareholders and/or Directors are not compulsory.

Shares/Stock, Capital

• Panama Corporations do no require paid-in capital.
• The standard capitalization for a Panamanian Corporation is US$10,000.00.
• Par and Non-par Value Shares, voting and non-voting shares are allowed.

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