People sometimes want to register in other jurisdictions for reasons such as:
- (1) minimum director requirements;
- (2) favorable corporate taxes;
- (3) employer or corporate incentives for hiring locally, among others.
The article Panama: Panama Corporation – Company Incorporation illustrates the requirement of a corporation in Panama. It states that the company name must end in Corp, Inc, or Ltd, it can be owned by only one person but must have these offices: president, treasurer and a secretary. One person can hold multiple positions and that there must be a minimum of three directors that may be any nationality and not reside in Panama. There must be at least one shareholder.
A company incorporates by presenting a proposed corporation’s signed Articles of Incorporation to a Notary Public. The article also elaborates on features, taxation and timescale to incorporation of Panama corporations.
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