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Legal form:



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Document checklist:

Local legal address (Handled by B2B Hub) 

2.Proof of Residence 


Organization name

Government Authorities





+507 527-9600

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Official languages

ISO 4217

Panama City


4,238,144 (as of 2020)




Q: What is the process for company formation in Panama?

A: The process for company formation in Panama involves drafting and filing articles of incorporation with the Public Registry of Panama, obtaining a tax ID number, and registering for various permits and licenses as required.

Q: What are the requirements for company formation in Panama?

A: The requirements for company formation in Panama include a minimum of two shareholders and three directors, a registered office address in Panama, compliance with various regulations, and payment of the required fees.

Q: What types of companies can be formed in Panama?

A: The types of companies that can be formed in Panama include corporations, limited liability companies, and partnerships.

Q: How long does it take to form a company in Panama?

A: The time it takes to form a company in Panama varies, but it typically takes around five to ten days to complete the registration process.

Q: What are the tax implications for companies in Panama?

A: Companies in Panama are subject to corporate income tax on their worldwide income, but certain tax exemptions and incentives may be available to qualified companies.

Q: What is the legal system in Panama?

A: The legal system in Panama is based on civil law and common law.

Q: What is the currency used in Panama?

A: The currency used in Panama is the Panamanian balboa (PAB), which is pegged to the US dollar.

Q: Can foreign nationals own a company in Panama?

A: Yes, foreign nationals can own a company in Panama.

Q: Are there any specific regulations for foreign-owned companies in Panama?

A: Foreign-owned companies in Panama must comply with various regulations, including foreign investment regulations and tax regulations.

Q: What are the benefits of forming a company in Panama?

A: Some of the benefits of forming a company in Panama include a strategic location for international trade, a stable political and economic environment, a favorable tax regime, and a strong financial services sector. Additionally, Panama has a number of incentives and support programs for businesses, including tax holidays and free trade zones.


Panama has a strong and growing economy, with a GDP of $67.7 billion in 2019, according to the World Bank. This is an increase of 4.2% from 2018, and the country is expected to continue to grow in the coming years. The country has a low unemployment rate of 4.2%, and a high labor force participation rate of 74.2%. The country also has a strong banking sector, with a total banking assets of $90.3 billion in 2019. The country also has a strong tourism sector, with over 2.5 million tourists visiting in 2019, generating over $2.5 billion in revenue. Panama also has a strong agricultural sector, with exports of over $1.2 billion in 2019. Overall, Panama has a strong and growing economy, with a bright future ahead.


In Panama, both individuals and corporations are subject to income tax. The tax system in Panama is territorial, meaning that only income earned within Panama is subject to taxation.

For individuals, income tax is calculated on a progressive scale ranging from 0% to 25%. Taxable income includes all income earned within Panama, including salaries, wages, and self-employment income. Deductions are allowed for certain expenses, such as health insurance premiums and charitable contributions.

For corporations, the income tax rate is 25% of taxable income. Corporate income tax is imposed on all income earned from Panamanian sources, including profits, dividends, and capital gains. Certain deductions are allowed, such as expenses incurred in generating taxable income.

The tax year in Panama runs from January 1st to December 31st. Tax returns are due by March 15th of the following year for both individuals and corporations. Taxes must be paid in four installments throughout the year, with due dates of March 31st, June 30th, September 30th, and December 31st. The amount of tax due is based on estimated income for the year, and any overpayment or underpayment is reconciled with the final tax return.

Company incorporation application form


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