Corporate and Commercial Law

This branch of law regulates commercial activities between companies and is in charge of keeping them subject to the law according to the rules that apply to each company. It is stipulated that in Panama there are around 200,000 companies and more and more foreign investors are wishing to open a company in Panama, because of its great ease to create a commercial company, taking only three working days to be constituted.

Learn about some of the different types of companies in Panama:

International bussines Corporation (IBC)

The Panamanian IBC or anonymous society in Spanish (S,A) are capitalist companies dedicated to the development of a commercial industry with a capital divided into shares, whether nominal or bearer. The IBC is the most popular legal company for asset Protection in Panama

Limited liability company (LLC)

This is a commercial company that can be used to carry out all types of business, whether commercial or private, which can be constituted by people of any nationality whether natural or juridical and the responsibility of the partners is limited to the amount of their contributions.

Private interest foundation PIF

The Private Interest Foundations constitute an alternative to offshore corporations or companies and limited liability companies, since these are intended for the protection of the patrimony. Private Interest Foundations are an excellent tool to protect and segregate the assets of an individual person or a Company.

Benefits:

  1. It does not have shareholders or partners.
  2. The founder can also act as a beneficiary.
  3. It is completely free of taxes and income declarations
  4. The assets that are part of the private interest foundations cannot be subject to seizure.
  5. The private interest foundations have a high level of confidentiality, this means that there are no legal requirements that forces to expose the name of the founders or beneficiaries.
  6. There is no legal limit of permitted assets.
  7. They are flexible, since the founder can add new assets to the patrimony whenever he wishes.
Partnership Companies

Partnership Companies are corporations for professionals in Panama and they are usually used by law firms, architects, accountants, doctors, consultants or by two or more licensed Panamanian professionals with the same qualifications wishing to open a business together to offer a service according to their occupation.

Offshore-company

Incorporating an offshore company in Panama has many banking, confidentiality and financial security benefits. These companies even offer tax advantages for multinational companies.

Characteristics:

  • The income of this company obtained abroad will not pay income tax in Panama.
  • An offshore company can act as a shareholder company or obtain assets and properties anywhere in the world, protecting them from future tax obligations.
  • Confidentiality and anonymity of its shareholders.

In Panama this company does not have restrictions on foreign monetary remittances and does not impose currency exchange controls on transnational companies, so the funds can have a free flow in and out of the country.

Agroup consulting can also help you with the creation of an offshore company in:

  • Bahamas
  • Belize
  • British Virgin Islands
  • Cayman Islands
  • Seychelles
Contract Draft & Negotiation

Based on our experience mediating in conflicts, negotiations and judicial processes, many times problems can be avoided if we carry out an appropriate elaboration of a contract that favors the parties involved in it. A contract is a legal document in which two people or companies establish an agreement for mutual purposes and clarify their interests, obligations, rights and also measures that can protect the security and ethics of this agreement against possible risks or disagreements in the future.

Nonprofit organization

An NPO in Panama can be a public or private entity with the main characteristic of being a non-profit association. The statutes of an NPO cannot carry out economic activities to generate income by themselves. The NPO in Panama can deduct all donations received from the tax returns of another person or business. As NPO will receive donations and this type of entity will be exempt from paying income tax.

An NPO in Panama will also be exempt from other tax obligations when receiving donations, (such as the service tax). As a non-profit association, it is also not required to obtain a business license or pay taxes on capital and assets obtained through donations.

Mergers and Acquisition

It deals with the laws affecting the purchase of one company by another (an acquisition), or the blending of two companies into a new entity (a merger).

Benefits:

  • Possibility of market diversification
  • Increased brand reach
  • Increase in income
  • Costs reduction
  • Decrease in market risks

In our firm we have a group of specialized lawyers for each type of company you wish to open. Contact us in case you have any questions about opening a company in panama.

Corporate and Commercial Law

This branch of law regulates commercial activities between companies and is in charge of keeping them subject to the law according to the rules that apply to each company. It is stipulated that in Panama there are around 200,000 companies and more and more foreign investors are wishing to open a company in Panama, because of its great ease to create a commercial company, taking only three working days to be constituted.

Learn about some of the different types of companies in Panama:

International bussines Corporation (IBC)

The Panamanian IBC or anonymous society in Spanish (S,A) are capitalist companies dedicated to the development of a commercial industry with a capital divided into shares, whether nominal or bearer. The IBC is the most popular legal company for asset Protection in Panama

Limited liability company (LLC)

This is a commercial company that can be used to carry out all types of business, whether commercial or private, which can be constituted by people of any nationality whether natural or juridical and the responsibility of the partners is limited to the amount of their contributions.

Private interest foundation PIF

The Private Interest Foundations constitute an alternative to offshore corporations or companies and limited liability companies, since these are intended for the protection of the patrimony. Private Interest Foundations are an excellent tool to protect and segregate the assets of an individual person or a Company.

Benefits:

  1. It does not have shareholders or partners.
  2. The founder can also act as a beneficiary.
  3. It is completely free of taxes and income declarations
  4. The assets that are part of the private interest foundations cannot be subject to seizure.
  5. The private interest foundations have a high level of confidentiality, this means that there are no legal requirements that forces to expose the name of the founders or beneficiaries.
  6. There is no legal limit of permitted assets.
  7. They are flexible, since the founder can add new assets to the patrimony whenever he wishes.
Partnership Companies

Partnership Companies are corporations for professionals in Panama and they are usually used by law firms, architects, accountants, doctors, consultants or by two or more licensed Panamanian professionals with the same qualifications wishing to open a business together to offer a service according to their occupation.

Offshore-company

Incorporating an offshore company in Panama has many banking, confidentiality and financial security benefits. These companies even offer tax advantages for multinational companies.

Characteristics:

  • The income of this company obtained abroad will not pay income tax in Panama.
  • An offshore company can act as a shareholder company or obtain assets and properties anywhere in the world, protecting them from future tax obligations.
  • Confidentiality and anonymity of its shareholders.

In Panama this company does not have restrictions on foreign monetary remittances and does not impose currency exchange controls on transnational companies, so the funds can have a free flow in and out of the country.

Agroup consulting can also help you with the creation of an offshore company in:

  • Bahamas
  • Belize
  • British Virgin Islands
  • Cayman Islands
  • Seychelles
Contract Draft & Negotiation

Based on our experience mediating in conflicts, negotiations and judicial processes, many times problems can be avoided if we carry out an appropriate elaboration of a contract that favors the parties involved in it. A contract is a legal document in which two people or companies establish an agreement for mutual purposes and clarify their interests, obligations, rights and also measures that can protect the security and ethics of this agreement against possible risks or disagreements in the future.

Nonprofit organization

An NPO in Panama can be a public or private entity with the main characteristic of being a non-profit association. The statutes of an NPO cannot carry out economic activities to generate income by themselves. The NPO in Panama can deduct all donations received from the tax returns of another person or business. As NPO will receive donations and this type of entity will be exempt from paying income tax.

An NPO in Panama will also be exempt from other tax obligations when receiving donations, (such as the service tax). As a non-profit association, it is also not required to obtain a business license or pay taxes on capital and assets obtained through donations.

Mergers and Acquisition

It deals with the laws affecting the purchase of one company by another (an acquisition), or the blending of two companies into a new entity (a merger).

Benefits:

  • Possibility of market diversification
  • Increased brand reach
  • Increase in income
  • Costs reduction
  • Decrease in market risks

In our firm we have a group of specialized lawyers for each type of company you wish to open. Contact us in case you have any questions about opening a company in panama.

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