Giovanna Avendano Attorney Law firm Panama Offshore Legal Services

Panama is the registered domicile for over 400,000 corporations & foundations, making it the second most popular jurisdiction to incorporate in the world, next to Hong Kong.

Requirements
Every Panama corporation requires 3 directors / officers (President, Secretary and Treasurer). The directors/officers must be individuals. Panama corporations directors, officers and shareholders may be of any nationality and resident of any country. The directors names and identifications must be presented in the public registry when the corporation is formed.

We offer our clients the optional service of using our "Nominee Directors" for their corporation(s). For purposes of confidentiality, most of our clients prefer that we provide nominee directors/officers for their corporations, since unlike IBC's set up under Nevis corporate laws, three directors have to be in the public registry. When we appoint nominee directors for the entities that we establish for our clients, we can always provide our clients with pre-signed, undated letters of resignation from the directors so that our client can replace those directors at any time.

Panama corporations must have two subscribers present at the public registry in order to be incorporated. The subscribers are the individuals from our law firm that appear at the Public Registry with the articles of incorporation to incorporate the corporation. By law, the subscribers have a right to own one (1) share of the corporation. As soon as the corporation is established, the subscribers sign a document where by they resign their rights to one (1) share of the corporation. This document is provided to our client along with the corporate documentation.