Country's features:

Geographic location	Central America
Political regime	Parliamentary Republic
Population	3 510 045 (2012)
Language	Spanish
Currency	U.S. Dollar (USD)
Time zone	GMT-5

Features of the incorporation of a company:

Type of company	Sociedades Anónimas S.A.
Capital required	No minimum capital is required
Legal system	Spanish Civil Law with Common Law influence
Number of directors/shareholders	Minimum 3 directors/1 shareholder
Anonymity and confidentiality	Directors' names appear in the Public Registry, but not that of shareholders, so the services of a nominee can be used
Secretary service	Yes
Corporate tax	0%
Wealth tax	0%
VAT	0%
Government taxes	Sole annual tax: 250 USD in the first year Sole annual tax: 300 USD in the second year
Accounting requirements	There is no obligation to keep accounts or file annual reports
Bearer shares	Authorised
Exchange control - non-residents	No

Related links:

• Government of Panama website: http://www.presidencia.gob.pa/