FREQUENT ASKED QUESTIONS ABOUT ANONYMOUS
SOCIETYS IN PANAMA
1. Should I pay taxes in Panama for the
profits obtain by the society or for the money that I maintain
in accounts in this country?
2. If I designate other directors so my name does not appear,
would they have the control over the society?
3. If I open a bank account and I am not the director of the
society, how can I have the control over my money?
4. If I appear as the signer in the bank, then I will loose
my anonymity?
5. Can I have different businesses with the same society?
6. If I want to sell or yield my society to a third?
7. How the name of the society must appear?
8. Is necessary to be in person in Panama to constitute a society?
9. What is the Registered Capital of the Society?
10. It is necessary to pay or to deposit in some form the Registered
Capital of US$10,000.00?
11. Is it possible to constitute a society in Panama with one
Capital Registered greater than USS10,000.00?
12. Is necessary to present declarations of rent to the Panamanian
authorities for the anonymous company that I have in Panama?
13.
Is I do not make commercial activities in Panama, but I have
a banking account in Panama, is necessary to pay to taxes by
the interests or dividends that this account generates?
14. Who pays the annual rate of my society?
15. Can I maintain the books of the society in my country or
is necessary that they are in Panama?
16. What it is the Board of directors of the society?
17. Is the identity of the 3 members of the Board of directors
of the society Public?
18. It is necessary that the shareholders are directors of the
society?
19. Can I hold the position of President, Secretary and Treasurer
of my society simultaneously?
20. Can I name my own directors?
21. It is possible to change to the Nominative Directors or
the Directors Named by my in a future?
22. It is possible to emit certificates “to the carrier” of
the society?
23. What is the difference between nominal certificates and
certificates to the carrier?
24. Are the shareholders the maximum authority of a society?
25. Would the identity of the Shareholder be registered in the
Public Registry of Panama?
26. We are two partners, is possible to have two stock certificates?
27. Can I If I want to make modifications to the social Pact
or to change the directors what must I do?
1. Should I pay taxes in Panama for the profits obtain by the
society or for the money that I maintain in accounts in this
country?
NO, the rent is not recorded in Panama unless the society makes
commercial transactions in this country only in habitual way.
2. If I designate other directors so my name does not appear,
would they have the control over the society?
NO, we add a clause in the pact that indicates that the directors
will not be able to act without a written authorization form
of the shareholders of the society which is totally anonymous,
similarly cannot ask for information of the bank account unless
they are authorized by the shareholders before the bank for
it.
3. If I open a bank account and I am not the director of the
society, how can I have the control over my money?
The purpose of the society is in its own name “Anonymous
company” is to say that the shareholders have the control
but they remain in anonymity; The opening of a banking account
is a contract between the society and the bank, the society
authorizes to people that is going to sign the check book, to
whom the bank will give the secret pins of the online banking,
and that will be the authorized person to act in the account
with the exclusive rights and duties and unique for them in
representation of the society, which can be the anonymous shareholders
or until a third person whom it designates, no director will
be able to act in name of it, unless written pact.
4. If I appear as the signer in the bank, then I will loose
my anonymity?
NOT necessarily, the bank in Panama is strictly confidential no organization
in any part of the world can ask for information to a bank in Panama these
are not forced to raise the corporative veil, if they do this they fail the
anonymity law which carries, millionaire fines, plus penal violations to the
banking secret, without perjury of demand by damages, the only cases that are
excepted are the information required by suspicion of money laundering or terrorism
and through Panamanian authority with summary tests of it.
5. Can I have different businesses with the same society?
If, the use does not have commercial limits whenever they are legal, you can
make all the businesses that you want and in any part of the world, can obtain
licenses of commerce under a single society.
6. If I want to sell or yield my society to a third?
You just have to endorse the actions you have in your power like someone who
endorses a check and you give him to it, besides registration of the transfer
in the books of actions and with this I make the crossing.
7. How the name of the society must appear?
The name for the society can be in any language, despite must finish with the
abbreviation that indicates that it is a company, usually S.A. (anonymous company)
Corp. or Inc...
8. Is necessary to be in person in Panama to constitute a society?
No. According to our law, it is not necessary that the interested ones are
physically in Panama for the intention to constitute an anonymous company in
our country.
9. What is the Registered Capital of the Society?
The Registered Capital, also known like Authorized Capital, is a nominal figure
which projects an estimate of the funds that will handle the society. In agreement
with our law, the minimum Registered Capital to constitute a society is of
USS10, 000.00.
10. It is necessary to pay or to deposit in some form the Registered Capital
of US$10,000.00?
No, it is important to indicate that it is not necessary that this capital
is paid or deposited in any of their parts.
11. Is it possible to constitute a society in Panama with one Capital Registered
greater than USS10,000.00?
This is correct. If you wish you can constitute the society with one Capital
Registered greater than US10, 000.00 that are normally used, in this case an
additional tax at the time of the inscription will be due to pay depending
on the registered capital selected. It is important to indicate that the additional
cost by this increase is considerably low.
On the payment of taxes in Panama for the societies.
12. Is necessary to present declarations of rent to the Panamanian authorities
for the anonymous company that I have in Panama?
No, according to our law, the society does not have to present rent declarations
if the activities of the society are made outside the territory of Panama.
13. I do not make commercial activities in Panama, but I have a banking account
in Panama, is necessary to pay to taxes by the interests or dividends that
this account generates?
No. The dividends and interests that your banking account generates in Panama
are not obligated to pay taxes according to our law.
14. Who pays the annual rate of my society?
Our Office is in charge of making the annual payments for the society. Every
year of use of the society counting from its inscription the annual rate will
be due to pay the amount of US$300.00 plus US$300, 00 as Resident Agents, if
there are directors named by us you will also paid US$300.00 by each one…You
will send us the money and later will send you the original receipt of the
payment, who indicates that the society is in use and to date with its annual
payments to the government of Panama. (If you make the payment later to the
date of anniversary a surcharge of $100, 00 will have to be paid)
15. Can I maintain the books of the society in my country or is necessary that
they are in Panama?
Our legislation does not require that the books of the society are taken or
held in Panama. You can maintain these books in your country, in fact, according
to our law, it is not necessary that they are emitted or sealed in Panama,
therefore, these books can be obtained in any bookstore and can also be taken
in electronic format. In other words, the client can acquire these books and
take the record by his own account and from its own country.
16. What it is the Board of directors of the society?
The handling and administration of the society is lead by the board of directors
of the society. According to our law this Board of Directors must be formed
by a minimum of 3 people, of legal age, of any nationality, usually these directors
are named also like dignitaries, normally (President, Secretary and Treasurer)
17. Is the identity of the 3 members of the Board of directors of the society
Public?
This is correct; the social pact of the society and the information contained
in it, including the identity of the 3 Directors/Dignitaries of the society
will be registered in the Public Registry of Panama.
18. It is necessary that the shareholders are directors of the society?
No. It is not necessary that the members of the board of directors of the society
are shareholders of the society.
19. Can I hold the position of President, Secretary and Treasurer of my society
simultaneously?
Yes, according to our law, the societies in Panama must be formed by a minimum
of 3 people like directors, but if you wish a single director can exert all
the functions of dignitaries.
20. I can name my own directors?
The directors can be of any nationality and any part of the world.
21. It is possible to change to the Nominative Directors or the Directors Named
by my in a future?
It is correct. It is possible to remove and to change the Directors of the
society if you wish so. In this case it will be necessary to modify the social
pact of the society registered in the Public Registry of Panama.
On the Shareholders of the society and the Stock certificates
22. It is possible to emit certificates “to the carrier” to
the society?
This is correct, according to our legislation it is possible to have actions
to the carrier, but if you are going to open a bank account outside Panama,
there are banks that do not allow this type of actions, reason why if you wish
actions to the carrier and you are going to open a bank account you must consult
previously with your bank
23. What is the difference between nominal certificates and
certificates to the carrier?
The main difference is that in the actions to the carrier, the
owner of the society is the person who physically has the action.
In the actions emitted in nominal form, the stock certificate
specifically indicates who the owner of the society is. Taking
in consideration the previous explanation it is possible to
be indicated that the actions emitted to the carrier are more
flexible and easy to transfer, however, the registered stocks
offer greater security. It is important to indicate that most
of the banks nowadays they prefer to work with registered stocks.
24. Are the shareholders the maximum authority of a society?
This is Correct, the Shareholders are the Maximum authority
of the society, and their decisions are over the directors of
the society.
25. Would the identity of the Shareholder be registered in the
Public Registry of Panama?
No, it is important to indicate that according to our law the
information and identity of the Shareholders of the society
are not registered in the Public Registry. The stock certificates
are emitted in a private way and the information of the shareholders
of the society is equally private.
26. We are two partners, is possible to have two stock certificates?
This is correct. It is possible to have two or more stock certificates,
in this case two certificates of 50% can be emitted each one
or for example; 80% and 20%, you can choose as they are going
away to distribute the actions.
On the opening of a banking account for the society.
27. Can I open a bank account for the society in a bank outside
of Panama?
This is correct. According to our law, a Panamanian society
can open a bank account in any place of the world or the country
that you wish, however is good that it consults previously with
his bank every time there are banks outside of Panama that do
not allow that the actions of the society are to the carrier,
in such case is necessary to indicate to emit only nominative
actions in the social pact.
28. Can I open a bank account with the documents of the Society
that you would be sending me?
This is correct. In our package of constitution we include all
the documents necessary to open a corporative account. However,
each bank has different requirements reason why it is possible
that in some cases they ask for some additional documentation,
if this is the case, our Firm will be pleasantly providing you
any additional documentation so you can fulfill all the requirements
of the bank.
29. If the bank asks to me who is the owner of the society?
The owner of the society is the possessor of the actions, you
must show if the legislation demands it the stock certificate
of the society in where it indicates the shareholders of the
society.
30. Does your Law Firm offers the services of opening bank accounts
in Panama?
Our Firm offers the service of banking introductions to open
a corporative account in Panama, before you must contact us.
31. If I want to make modifications to the social Pact or to
change the directors what must I do?
Any modification to the social pact is due to do by means of
act of meeting of shareholders or of board of directors or by
decision of the General Proxy if there were, this rises to writing
publishes and it registers in the Public Registry
Example: increase of capital, change of directors, to name or
to remove a general power, to add or to modify clauses to the
social Pact, everything that implies to modify or to add the
estates of constitution of the society
Our Firm is in charge of this transaction and the cost is of
USS850.00 by every act (it includes the expenses and professional
fees, authentications and couriers)
For more questions contact us
Desire that my society has a banking account in Panama
· Costs
· I Wish an anonymous company
· Frequent ask questions on private interest foundations
· What I must know of an anonymous company
