Yes, a foreigner can be a member of a Panamanian corporation. Panama is a popular destination for foreigners to establish businesses, and the country’s laws permit foreign nationals to own and operate businesses in Panama.
Foreigners can be shareholders or directors of a Panamanian corporation, and they are not required to be Panamanian citizens or permanent residents. They may own 100% of the shares in a corporation or be a minority shareholder.
However, it is important to note that in order to establish a corporation in Panama, foreign shareholders must appoint a resident agent who must be a lawyer or law firm in Panama. The resident agent assists in the incorporation process, serves as a liaison between the corporation and the Panamanian government, and must keep copies of the corporation’s accounting records. In addition, resident agents must ensure that due diligence is performed on their clients.
Foreigners who are interested in forming a corporation in Panama should seek the advice of a legal professional who can provide guidance on the specific requirements and regulations related to company formation and foreign investment in Panama.
If you need to create a company in Panama, please contact us.