Panama-LLCs for Digital & International Business
If you are a non-Panamanian based entrepreneur with a digital or international business... this is the website you have been looking for!
We are a law firm in Panama City with more than 20 years of experience guiding international clients in the correct positioning of their global and digital businesses. We have strategic alliances and licensed accountants in Panama to cover the formation of your LLC in due form and based on law, with a convenience tax treatment, as a non-resident LLC owner.
Why register an LLC in Panama for International and Digital Businesses?
The topic is Panama LLC Companies, which operate similarly to corporations but with less complexity. These companies can engage in civil or commercial activities anywhere in the world, and are regulated by Law 4 from January 9, 2009.
LLCs must have a name available in the Panamanian Public Registry, which includes the suffix Sociedad de Responsabilidad Limitada or the initials S. de RL. The company can be established for a fixed period of time or indefinitely.
LLCs require a minimum of two subscribers, who can be Panamanian or foreign individuals or legal entities, and do not have to be company owners. The initial capital investment does not have to be liquid or immediately available, and can be registered in any currency. Each partner's responsibility is limited and proportional to their investment.
To register an LLC, a private notarized document or a notarized public deed is required. This document must contain personal information of subscribers, partners, managers, and any other administration members, the official location of the LLC, its purpose, initial capital investment, and duration.
LLCs offer various advantages, such as transparency, as the owner's personal information is publicly available. They also allow for doing business in Panama or abroad, with personal assets being separate from the LLC's assets. LLCs can be converted to
Corporations and vice versa, and foreign income sources are not subject to Panamanian income taxes.
LLC legal Fact!
Panamanian LLCs is offer significant privacy and confidentiality protections. The names of LLC owners and other personal information are not publicly available and are only held by the registered agent or the law firm that helped establish the LLC. This is due to Panama's strict laws on banking and corporate secrecy, which make it difficult for third parties to access information about LLCs and their owners.
Advantage of LLCs in Panama
A financial advantage of LLCs in Panama is that they are not subject to Panamanian income tax on foreign-sourced income. This means that if an LLC in Panama earns income from sources outside of Panama, it will not be subject to Panamanian income tax on that foreign-sourced income. This can result in significant tax savings for the LLC's owners.
Banking Accounts for LLCs in Panama
LLCs in Panama can open a bank account in Panama or in any other country where the LLC does business. To open a bank account in Panama, the LLC must provide the bank with the company's registration documents, such as the public deed or the notarized private document, as well as the personal identification documents of the LLC's owners and managers. The bank may also require additional documents, such as proof of the source of funds and information on the nature of the company's business. It is important to note that Panama has strict banking laws and regulations, which aim to prevent money laundering and other illicit financial activities. As a result, the bank may conduct due diligence procedures before opening the account.
Your global business goals are within reach! PGS Attorneys can help you optimize your international business based on the reputation and acceptance of these legal forms with the Panama's LLCs solution.
If you need more information, please do not hesitate to contact us.