Panama
Panama companies are registered according to the Law 32 of 26 February 1927on Corporations.
Name - An application is filed for approval of the name at the Panamanian Public Registry and such name must not be similar to any already existing company.
Language - The language used is Spanish and English
Annual license fee - An annual licence fee of USD 300 is payable to the Panamanian Public Registry.
Registered office - It must be situated in the Republic of Panama.
Shareholders/Members - The minimum number is one.
Public access - The names of the initial subscribers appear on the public records as well as the names of the directors.
Directors - The minimum number is three. One must be appointed as President, one as Treasurer and one as Secretary.
Secretary - It is necessary to appoint a Secretary who must also be a member of the Board of Directors.
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