A company is legally formed when the people involved decide to form a company and meet certain requirements.

In general terms, a company should have a board of directors, a resident agent and a legal representative. A Panamanian citizen or a foreigner can own a business in Panama.

A Panamanian company is formed when the following requirements are met:

– there must be a minimum of 1 shareholder
– the company must have a board of directors
– the company must have at least 3 officers
– the company must have an address
– the company must have a resident agent
– the company must have a legal representative
– all documents that establish or affect the rights, obligations or interests of shareholders, directors and any other person who may be affected by it.

The resident agent must be a Panamanian lawyer or a Panamanian law firm.

For more information, please contact our experts today.