Panama
Corporation Procedures
Offshore
Panama Corporations are formed using nominee directors in Panama,
who execute the Articles of incorporation before a Notary Public of
Panama registered at the Public Registry office. Two individuals or
more, of any nationality even though not domiciled, adults, not necesary
present in the Republic of Panama, form the offshore Panama corporation
or Offshore company in Panama. Law 32 of 1927 imposes no restrictions
upon ownership of shares by international visitors or corporations,
nor are there any nationality restrictions nor residence requirements
imposed upon directors or officers of Panamanian corporations under
the said law.
Articles
of Incorporation may be executed anywhere, in any language, within
or outside Panama, as long as the signatures are certified by a
Notary Public, or by any other public officer at the place of execution
thereof their signatures having to be legalized by a Panamanian
Consul or apostilled.
Contents of Articles
of Incorporation are prescribed by Article 2 of Law Number 32 of
1927, and may be summarized as follows:
Name of Offshore Corporation, (not to be the same nor similar to
that of another existing corporation ), and shall include a word,
phrase or abbreviation to indicate that it is a corporation. We
request several possible names in order of preference, to avoid
expenses and delays in communications.
Name and domicile of subscribers or incorporators of the Offshore
Panama Corporation.
General purpose(s) for which the corporation is organized, i.e.,
commercial, shipping, trading, tourism, etc., and which may be ample
and general.
Authorized capital and par value of shares may be expressed in the
currency of any country.
Proposed capital structure or authorized capital for the Offshore
Panama Corporation, including number, classes of shares, whether
with or without par value, whether bearer or nominative (registered)
shares, and if there are to be shares of different classes, number
of shares in each class, designations and relative rights, preferences
and limitations thereof.
Number of shares that each of the subscribers agrees to take.
Domicile of the Offshore Panama corporation, which may be in Panama
or elsewhere, as well as name and domicile of its Resident Agent
in Panama who must be an attorney or an attorney's firm.
Duration of corporation which may be perpetual.
Full names and addresses of at least three directors of the Panama
Corporation.
Any other lawful clauses. It is usual practice to include full names
of the first officers of the corporation consisting of at least
a President, a Secretary and a Treasurer, as this affords a considerable
time saving.
Contact us: info@panamalegalconsultants.com
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