GENERAL
Type of Company	Non-Resident
Political Stability	Good
Common or Civil Law	Civil
Disclosure of Beneficial Owner	No
Migration of Domicile Permitted	Yes
Tax on Offshore Profits	Nil
Language of Name	Latin Alphabet
CORPORATE REQUIREMENTS
Minimum Number of Shareholders	One
Minimum Number of Directors	Three
Bearer Shares Allowed	Yes
Corporate Directors Permitted	Yes
Company Secretary Required	Yes
Standard Authorized Share Capital	US$ 10,000
LOCAL REQUIREMENTS
Registered Office/Agent	Yes
Company Secretary	No
Local Directors	No
Local Meetings	No
Government Register of Directors	Yes
Government Register of Shareholders	No
ANNUAL REQUIREMENTS
Annual Return	No
Submit Accounts	No
RECURRING GOVERNMENT COSTS
Minimum Annual Tax/Licence Fee	US$ 300
Annual Return Filing Fee	N/A

The corporation law of the Republic of Panama provides that any two natural persons acting as the organizers and the subscribers may appear before a Notary Public to organize and constitute a corporation (In Panama Public Notaries govern most entities under the direction of a government institution).

It is the usual practice for natural or juridical persons outside of Panama to accomplish the formation of a Panama corporation through a local Panamanian law office, a trust company, or a professional management services firm. For the purpose of drafting necessary documents, the following simple information and particulars are supplied by the client to the incorporations:

* NAME. A preferred name, with two alternatives in the event that the desired name may conflict with a name already in use, expressed in any language, that must also include a corporate ending such as "S.A" (Anonymous Society), "Corporation" or "Corp", "Incorporated" or "Inc.", "Limited" or "Ltd." to clearly denote that they are incorporated companies.

* OBJECTS. While the standard "Articles of Incorporation" for a Panama corporation intentionally provide a very broad scope of activities, it is not unusual to include one or more articles which deal specifically with the client´s intended objectives.

* CAPITAL. The capital of a Panama corporation is expressed as "Authorized Capital", and there is no minimum capital that must be paid in. Unless there is a compelling reason to the contrary, it is standard practice to specify an authorized capital of US$10,000.00, represented by 100 common, voting shares having a par value of US$100.00 each, or to express the capital as being 500 common, voting "No Par Value Shares". In either case, the nominal capital registration tax (payable once only) is US$60.00.

* DIRECTORS. A minimum (with no maximum) of three directors is required. These may be of any nationality, residence or occupation. It is general practice to employ local nominees for this purpose. Juridical persons (other corporations or entities) can also act as directors.

* OFFICERS. A President, a Treasurer, and a Secretary are required. These may be natural or juridical persons, and there are no requirements as to nationality, residence or occupation, While one person may hold more than one office, it is customary that the President should not also be the Secretary. One of the officers is usually named Vicepresident. There may be as many Vicepresidents as required. Managers may also be named if desired. Local nominee directors and officers are customary.

* DOMICILE. A Registered Agent domiciled in Panama is required and by law must be a practicing lawyer or law firm. Domicile of registry is not the domicile of "Business". Owner of corporation may have the company´s business domicile anywhere in the world. Incorporating and Management Firms usually name their own lawyer as the Resident Agent, but they do not act as business offices for the corporation.

* TIME OF INCORPORATION. Time incorporation can be anywhere between 5 to 8 working days. "Off-the-Shelf companies are also available but not immediately Off-the-Shelf companies are usually more expensive than new ones because they are already in existence and are old, and not because they are available immediately. They usually have to be updated and updating takes around the same time as ordering a new incorporation.

* CORPORATE SEALS AND MINUTES BOOKS. Both Corporate Seals or Minutes Books are not required, especially if the corporation does not operate in Panama. Owner or his/her client may want to create their own seals, and carry their own books usually at the place of business of the corporation (business office).

Your Own Company Name, Certificate Of Incorporation, Articles of Incorporation, English Translations of Documents, Issuance of a Power of Attorney, Bearer Share Certificates, Nominee Directors for one year, Resident Agent for one year, Registration Address, Annual goverment tax of U$250, One Apostille legalization Under the Hague Convention.