Characteristics
1. Subscribers:To
create a corporationi it is required a minimum of two (2) persons,
of legal age and of any nationality, even though it may not be
Panamanian.
2. Capital: Corporations do not require any paid - in capital
or any specific amount of money for the corporation to operate.
It is only required to indicate the amount of authorized capital
in the Articles of the Incorporation.
3. Objective: There is a very wide range of possible corporate
objectives. A corporation can carry on any type of licit business
and there is no need to list all the objectives in the Articles
of Incorporation. Nevertheless, it is important to at least indicate
that it can carry on with any type of licit objective, unless
specific objectives were required.
4. Directors: Panamanian corporations must have a minimum
of three (3) directors that may be individuals of any nationality
and not necessarily shareholders of the corporation. The directors
names and addressees are public and must be disclosed in the Articles
of Incorporation. If, for confidentiality reasons, the client
does not want his identity to be disclosed as part of the board
of directors, our company will appoint a nominee board as part
of the services provided.
5. Articles of Incorporation: Corporations are organized
compliant with a document called Articles of Incorporations. For
this charter, a protocol must be done by a Notary Public and then
registered in the Public Registry of Panama.
The Articles of Incorporation not necessarily ought to be granted
in Panama and can be issued in any language. If it's granted outside
of the Republic of Panama a Panamanian consul must authenticate
it and then go through the process of being protocolized by a
notary in Panama.
6. Shares: Shares can be issued in the following way:
- Nominative Shares: These are issued with the specific name
of the owner.
- Bearer Shares: These are issued without indicating the name
of the owner. The owner then will be the physical holder of
bearer share. These can only be issued after its complete payment
and released.
- Shares with Par Value: These have predetermined value before
being sold. The persons with an interest in the Articles of
Incorporation determine the share's value.
- Shares without Par Value: The amount of contribution is not
indicated, and shares without par value can be issued only if
the number of these shares is specified in the Articles of Incorporation.
7. Vote: Shares
can be issued without voting powers or with power to vote, where
the majority of votes from any type of shares are required, for
a particular purpose and when indicated by the Articles of Incorporation.
8. Officers: According
to our law, a minimum of three (3) directors are required: President,
Secretary and Treasurer. The same person can occupy these positions,
only if stated in the Articles of Incorporation. The officers
may be of any nationality and not necessarily be directors, unless
indicated in the Articles of Incorporation.
9. Duration: Panamanian
law allows incorporating a company as perpetual, that is, for
an indefinite length of time.
Our Services