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K&B Legal Services is a boutique law firm established in Panama that provides legal advice to national and international clients.
Our lawyers offer comprehensive legal services and are trained to guide clients through all their legal matters, ensuring compliance with the ever-changing legal, fiscal, and economic framework.
A Panamanian corporation is a legal entity formed by two or more natural persons, which has rights and obligations similar to those of any individual. The articles of incorporation define the rules and regulations, who is in charge, and how the company will operate.
The incorporation process begins with two individuals called subscribers who appear before a Notary Public in Panama to sign the Articles of Incorporation. This document is then registered in the Public Registry of Panama to form the legal entity.
Panamanian corporations require a minimum of three individual directors in the company, and three officers (President, Secretary, and Treasurer). The same person can assume all three officer positions. A legal representative will be appointed and authorized to sign on behalf of the corporation. Shareholders of the corporation are designated in a physical share certificate that is issued once the corporation is “created” (once the corporation is registered in the Public Registry).
Panamanian Corporations are subject to the territorial tax regime, which requires payment of taxes only for operations carried out in the territory of the Republic of Panama under a Notice of Operation or Business License. Any income received from offshore activities is exempt from income tax.
A Panamanian corporation is of interest to anyone interested in doing legal business in Panama. It is an affordable and convenient legal entity that could allow you to achieve your business objectives. The constitution of a Panamanian corporation is easy, quick, and cost-effective as it usually takes from 5 to 7 business days.
Foundations are legal vehicles to ensure patrimony protection. A foundation serves as an instrument for asset administration. One or more natural or juridical persons called founder(s) create the foundation, which is administered by a Foundation Council, under the supervision of one or more Protectors, for the benefit of an individual, his family, or a specific social purpose.
Foundations are frequently used as a substitute for a will, to avoid complicated inheritance procedures and taxes, since it coordinates the distribution of inherited assets.
The participants involved are the Founder(s), the Foundation Council, and the Protector.
«Our lawyers offer comprehensive legal services and are trained to accompany our clients in all their matters.»
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