If you are new to Di Studio Panama, here are answers to some common questions about us, the services we offer, and how to get started. If the FAQs below do not address your inquiry, please contact us and we will be glad to answer all your questions.
Count on our experienced team for the incorporation and compliance of your company. Our affordable fees, easy-to-use platform, and world-class customer service will put a smile on your face.
Entities must have a record of minutes, a record of shares, and accounting records inside or outside Panama. In Di Studio, we provide the corporate housekeeper service for this compliance in which we are in charge of keeping a record of all the minutes of decision-making of each corporation, as well as a chronological record of the holders of the shares.
Accounting is required. Audits are not. For offshore activities, we have a special unit that also takes care of this compliance.
We run detailed due diligence processes on all individuals. If the person gets flagged with any criminal record, we cannot serve them. The same applies if the person is part of any sanctioned list.
Some nationalities, funding source, and nature of the business are also variables that can cause trouble.
Banks in Panama are required by law to know their clients very well. For this reason, it is always advisable for the client (account signatory) to come personally to Panama to have a brief personal interview with the bank; this will facilitate the account opening procedure. Usually, a short trip of one or two business days is sufficient. Nevertheless, some of the banks we have recommended could accept a virtual interview, receive the account application via email, and waive the personal meeting requirement. According to current regulations, the new clients need to be involved directly with the banks when opening a corporate account to explain to the bank the business’s details, source of funds, details of transactions, and approximate balances.
Our laws require that each company has a minimum of three directors, all of legal age (over 18), who do not have to live in Panama or be Panamanians. Directors do not necessarily have to be the shareholders. The information of the directors is public before the regulatory entity. It is important to note that the shareholders can appoint and remove the members of this board of directors at any time.
A Resident Agent is mandatory for all Panamanian entities duly incorporated in Panama. A Resident Agent must be a licensed lawyer or law firm in Panama.
The Resident Agent is an intermediary, facilitating communication between Panamanian Entities and local authorities. The Resident Agent is also responsible for the client's due diligence checks, beneficial owner registry, and keeping copies of the company accounting records. In addition, the Resident Agent is responsible for receiving legal and fiscal notifications on behalf of the entity.
Our Firm can refer to high-rated banks in Panama. However, the bank account opening procedures shall be discussed and arranged directly between the client and the banks. Our Firm does not act as an intermediary for these procedures, we only assist on the side if the banks require any specific corporate legal documents.
