A Panama City, Panama Residence Visa (2)

A Panama City, Panama Residence Visa (2):

None of the above options pertains to my particular case, so what else is available? I looked to the Panamanian Embassy nearest me for more information. Here’s the one in Tampa, Florida:

Tampa, Florida
5811 Memorial Highway, Suite 104
Tampa, FL 33615
t. (813) 886-1427
f. (813) 886-3624
e. <consuladopanama@verizon.net>

I also found this helpful information on the consulate’s website:

Establishing a Company

Panama has one of the most modern and flexible corporate laws in Latin America.

Some of the advantages offered by Panamanian corporate Law are:

1.   Two or more persons of any nationality, even though not domiciled in Panama, may organize a corporation for any lawful purpose. The articles of incorporation may be executed anywhere, even outside Panama, and in any language;

2.   There are no requirements regarding the amount paid in capital;

3.   Ownership of a Panamanian corporation may reside in a single individual or corporation and no part of the capital need to be held by a Panamanian;

4.   There are no nationality or residence requirements for shareholders;

5.   Neither the directors nor the officers are required to be shareholders;

6.   The Board of Directors must be composed of at least three directors, but one person may hold more than one position;

7.   Meetings of shareholders or directors may be held outside of Panama. Proxies may be used by shareholders/directors;

In order to form a corporation in Panama, the client must provide the following information:

1.   The name of the corporation. It may be in any language, but it must terminate in a word or abbreviation indicating that it is a corporation;

2.   The objectives and purposes of the corporation;

3.   The amount of authorized capital. Usually the authorized capital will consist of US $10,000 divided into 100 shares of US $100 each. However, it can also be tailored to your needs;

4.   Shares may be nominative or bearer shares;

5.   Duration of the corporation, usually perpetual;

6.   The full names and addresses of three or more directors and/or officers;

7.   The domicile of the corporation.

*Information provided by Ministry of Trade and Industry.