Advice on Panama corporations, bank accounts and immigration
We advise you on forming your Panama corporation, opening your bank account and handling your immigration paperwork. We coordinate with allied law firms the steps the law reserves for lawyers.
Procedures we handle
Panama corporation (sociedad anónima): advice to set it up
Articles of incorporation, directors and officers, registration, beneficial owners, franchise tax and tax ID.
Learn more 02Open a bank account in Panama: personal and corporate
Personal and corporate accounts, for residents and foreigners: file, references and follow-up.
Learn more 03Panama residency and work permit guidance
Specific countries (Friendly Nations) residency, work permits and dependents.
Learn moreAuthorities we work with
- Public RegistryRegistro Público de Panamá
- DGIDirección General de Ingresos (tax authority)
- SBPSuperintendency of Banks of Panama
- SSNFSuperintendency of Non-Financial Regulated Entities
- Panamá EmprendeOperating notice system
- ImmigrationServicio Nacional de Migración (National Immigration Service)
Who this service is for
We work with three kinds of clients. Each arrives with a different need, but all of them need a company in order, an account that works or a clear immigration status.
- Foreign companies setting up a subsidiary or a holding company in Panama.
- Foreign investors buying real estate, land or other assets in Panama through a company.
- Local entrepreneurs starting a business or putting an existing company in order.
Why a Panama corporation
Law 32 of 1927 lets people of any nationality form a corporation (sociedad anónima), even if they do not live in Panama.
It works for doing business in Panama or for holding assets, such as real estate or shares in other companies. We give you advice on forming your Panama corporation: structure, directors, documents, registration and tax ID.
Company and bank account: one process
A company without a bank account is of little use. So we help you set up the company with the bank's requirements in mind.
Rule 10-2015 of the Superintendency of Banks requires banks to review the articles, directors and officers, and shareholders holding 10% or more. It also asks for source of funds and a financial profile.
Once the company is registered, we help you prepare the file to open the bank account. The final decision always rests with the bank.
Compliance: what the law requires today
Panama has tightened its transparency rules. A company in good standing avoids fines, suspension and frozen bank relationships.
- Registered agent. Every company must have a Panamanian lawyer or law firm as registered agent. We coordinate with an allied law firm that fills that role.
- Due diligence. Law 23 of 2015 requires the registered agent to know its client before acting.
- Beneficial owners. Law 129 of 2020 requires filing them and keeping them current. Fines on the registered agent range from B/.1,000 to B/.50,000 per company.
- Franchise tax. A corporation pays US$300 a year. After three unpaid years, its corporate rights are suspended.
Immigration and work permits
If you or your staff will live or work in Panama, we also advise you on immigration and work permits. We coordinate the filing with allied law firms.
Who handles your case
- Handling procedures before Panamanian authorities since 2008.
- Certified public accountants on our team.
- Our own office in Obarrio, Panama City.
- We also serve clients who live outside Panama.
Frequently asked questions
Can a foreigner own a corporation in Panama?
Yes. Under Law 32 of 1927, subscribers can be of any nationality and do not need to live in Panama. The company needs a Panamanian registered agent, which is an allied law firm we coordinate with.
How much does a Panama corporation cost?
It depends on the structure and on the law firm that forms it. Each year you pay the US$300 franchise tax to the DGI and the registered agent fee. You get a full quote before we start.
Does forming a company guarantee a bank account?
No. Each bank decides based on its own risk assessment. What we do is help you prepare the company and the file so the bank has everything Rule 10-2015 requires.
Can I do everything from abroad?
In most cases, yes. Due diligence is done by email and we tell you what to sign, notarize or apostille. Some banks require an interview in person or by video.
Is Tramita Todo a law firm?
No. We advise you and coordinate with allied law firms on incorporation, the registered agent and the immigration filings the law reserves for lawyers.
Related procedures
Public Registry certificates in Panama
Land, lien and company certificates, online or in person, with apostille if you need it.
Learn moreApostille a power of attorney or notarized document in Panama
Powers of attorney, sworn statements, notarized copies and private documents signed before a notary.
Learn more