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. This article posted on our partner site Mondaq.com 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.
This comes to you as a part of Clausehound’s exciting new collaboration with Mondaq!