| Legal System |
Romano-Germanic legal system. |
| The System of the Common State Registrar |
The company records (name, registration data, shareholder, director, address) are kept by the public registry. Type of company: International Business Company (IBC). |
| Registration Procedure |
Documents are submitted to the Registrar on paper.
The beneficial owner is not required to be present at the registration and filing procedures.
The deadline for registration of the company, including the verification of the name, 2 business days. |
| E-Registration |
Not available. |
| Pre-incorporation Procedures (statement of compliance, affidavit, etc) |
Not Applicable. |
| Company Name |
Prior approval of the name is required. he name may be in a language that uses the Latin alphabet.
Company name must end in "Sociedad Anonima", "Incorporated", "Corporation" and "Bank", "Insurance", "Trust", "Assurance", "Imperial".
Without a license will not be permitted names containing the word "Bank", "Insurance", "Trust", "Assurance", "Imperial". |
| Incorporation Documents |
Memorandum & Articles of Association.The signed Articles by public notary provide to registration to the State Register. |
| Share Capital |
Standart capital is USD 10 000. |
| Beneficial Owner |
The beneficial owner can be any physical or legal person. |
| Shareholder |
At least two shareholders, which can be both individuals and legal entities. Nominee shareholder is allowed. |
| Director |
At least three directors. The director may be a physical person or a legal entity. |
| Secretary |
A company secretary must be appointed, who may be a natural or corporate person.
The company secretary may be of any nationality and should not be a resident of Panama. |
| Registered office |
A registered office Marshall Islands is required. |
| Residency |
Is determined by the place of management of the company. |
| Income Tax |
0% |
| Taxes on Dividends |
0% |
| Taxes on Capital Gains |
0% |
| Taxes on Interest |
0% |
| Tax Withheld at Source |
None. |
| VAT |
0% |
| Specific National Taxes and Levies |
0% |
| Reporting |
No required. |
| Audit |
Not required. |
| Cost Accounting Rules |
None. |
| Tax Administration |
0% |
| Use of Tax Treaties |
More than 12 countries. |
| Terms of Use of Tax Preferences |
Not Applicable. |
| Controlled Foreign Corporation in Jurisdictions with Low Tax (CFC) |
Not Applicable. |
| Disclosure of Information |
There are official channels of information disclosure.
Information about beneficiaries is revealed by the decision of a Court. |
| Language |
Spanish and certified English translations. |
| Registration of Company |
From EUR 1 500. |
| Administration of Company |
From EUR 500 per year. |