To form a corporation in Panama, you will need to follow these steps:

  • Choose a name for your corporation: The name must be unique and not already in use by another corporation in Panama.
  • Appoint a minimum of three directors: The directors may be natural or juridical persons. They may be Panamanian or foreign citizens and do not necessarily have to reside in Panama.
  • Draft and sign the articles of incorporation: This document outlines the purpose of the corporation, the share capital, the number of shares, and the rights and obligations of the members of the corporation.
  • Register the corporation with the Public Registry of Panama: This step involves filing the articles of incorporation, along with a copy of each director’s identification documents, and paying the corresponding fees.
  • Obtain a tax ID number: The tax ID number is known as the Taxpayer Identification Number (TIN). You will need to register with the Tax Authority of Panama to obtain this number.
  • Open a corporate bank account: You will need to deposit the minimum capitalization into the corporate bank account to complete the process of forming your corporation.
  • Obtain any necessary licenses and permits: Depending on the nature of your business, you may need to obtain additional licenses and permits before you can begin operations.

It is recommended to seek the assistance of a Panamanian attorney or law firm to help with the process of forming a corporation in Panama, as the laws and regulations can be complex and require expertise.

If you need to hire a licensed lawyer in Panama, please let us know.