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Panama Foundation Formation

PANAMA FOUNDATION

Type of Entity: Domestic Private Foundation
Type of law: Panama’s Foundations Law: Law 25, 1995
Incorporation time frame: 3 days
Minimum Government fees: US$3000
Regular Corporate Income Tax: None (but should pay an annual corporate franchise tax of US$250 to remain in good standing)
Double Tax Treaty access: N/A
Minimum issued share capital : USD 10,000
Minimum paid up share capital on incorporation: None
Minimum number of Shareholders required: None (Foundations do not have shareholders)
Record in the Public register: Foundation Charter
Minimum number of directors: 3 Directors/Officers (President, Secretary and Treasurer)
Corporate directors permitted: Yes (Foundation Council)
Local directors required: No
Local Registered office required: Yes
Auditor: No
Protector requirement: Optional
Disclosure of beneficial owner to Company Registrar: No
Disclosure of shareholders: No – Foundations do not have shareholders
Government register of directors: No
Trading restriction: Foundation cannot be dedicated directly to commercial activities
Taxation: No
Tax residence to benefit from Tax Treaty network: No
Exchange Control: No
Financial statements: For registered foundations For non-registered foundations No
Tax returns: No
Accounting: No

We do our best to monitor the compliance of this jurisdiction with the latest international regulations set by OECD and other international institutions and countries.

At any moment, Damalion may decline any customer demand about this jurisdiction, at its sole discretion and without any obligation to provide any reason.

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