FAQ – Di Studio Panamá

You have questions?

We have answers

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.

Frequently Asked 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.

Do I have to be present to incorporate a company?

Not necessarily; incorporating a company in Panama can be carried out remotely.

Can the authorized capital be higher than US$10,000.00?

Yes. In this case, the client must pay an additional fee to the Public Registry in Panama, depending on the amount of the authorized capital the client will register.

What kind of registrations do I need to establish a company in Panama? What tax obligations may arise?

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.

Is there any Restricted Person that cannot incorporate a company?

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.

Is it possible to open a bank account in Panama for my Panamanian Entity?

Yes, it is possible.

Do I need to come to Panama to open a bank account?

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.

How much capital should I invest?

None; Panamanian entities are incorporated with an authorized capital. This amount will appear in the Articles of Incorporation and must be a minimum of US$10,000.00. Entities do not require paid-in capital or specific money for incorporation.

How many directors must I have?

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.

What is a resident agent, and what is its role?

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.

What type of entities can we open in Panama?

There are corporations, limited liability companies, and private interest foundations. The latter is widely used for asset protection due to all the legal shields it provides under Panamanian law.

Do you provide bank introduction services to open a bank account in Panama?

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.