Over 400,000 international business corporations have been created in Panama. Onlypanama.com can help you set up a Panamanian Corporation to protect your assets and to keep you confidential. In Panama a corporation is known as a S.A. or ¨Sociedad Anonima¨ or in English ¨Anonymous Society¨. The Panama Corporation covers many different types of assets: real estate, bank accounts, trusts and foundations as well as international trade and confidential transactions such as the movement of funds to offshore accounts.The following is a summary that will help you to get familiar with the Panamanian corporation and understand how you can use it to your personal benefit.

• There are no laws enforcing a report on earnings.
• The Panamanian Corporation's financial books are absolutely private and confidential – this is clearly stated in the Panamanian banking code.
• Panama is one of the most popular countries worldwide to incorporate in: only Hong Kong has more corporations and foundations.
• There are no capital requirements for incorporating in Panama.
• You don't have to come to Panama to incorporate. Onlypanama.com will manage all the applications and legal processes necessary to set up the corporation.
• The government annual tax fee for the corporation is $250 a year and is due either on the 30th of June or the 31st of December. There is a late fee of $50 and a second late fee of $250.
• Every corporation must have a Board of Directors (Treasurer, Secretary and President). The Board can be made up of people from any nationality and reside in any country outside of Panama. A copy of the passport of every member certified by a Notary Public will be necessary if the client is not present. We also offer the nominee director service in case the client prefers not to be a member of the board of directors.
• The Board of Directors of the corporation doesn't have to meet to make decisions or resolutions that occur in Board of Directors Meetings. The meetings can be done by telephone, fax or internet.
• We provide a legal address for our clients in Panama
• A commercial business license is not required to set up the corporation for as long as the corporation is not used inside of Panama.
• You can record foreign corporations in Panama.
• There are no exchange controls or restrictions on the free movement of currencies.
• Incorporation usually takes from 7 to 10 working days.