Key Features           

International License: Allows the licensee to engage, from an office established within Panama,  transactions  that  are  perfected,  consummated  or  have  their  desired  effect outside  the  territory  of  the  Republic  of  Panama,  and  to  carry  out  whatever  other activities that may be authorized by the Superintendent of Banks.

Foreign Banks who do not have a banking license to operate in Panama may request that the Superintendent grant a preliminary authorization to engage in the international banking business.  This authorization would allow the petitioner to eventually operate from an office located in Panama, under a full international license, in transactions that are perfected, consummated or have their desired effect outside the territory of the Republic of Panama.

The superintendent will meet with representatives of the applying bank or of the promoting group, or with the attorney designated by them for that purpose, before the formal presentation of the application for banking license.

It will be left to the Superintendent’s discretion to grant the respective license, attending to the analysis of the documents submitted by the applicant or its promoter, the meetings he/she holds with the applicant and/or its promoting group before the presentation of the license application, and the investigations that lead to that effect.

In the cases when he deems it convenient, the Superintendent may condition granting the license to the fulfilment of particular quantitative or qualitative conditions, with the previous signing of a commitment by the applicant or his promoting group.

Legal Requirements

Requirements

Description

General

  • Corporate  vehicle permitted

Panama Company

  • Local physical office required

Yes

Share capital or equivalent

  • Minimum paid up capital

USD 3,000,000

Directors

  • Minimum number

2

  • Corporate directorship allowed

Yes

  • Local director required

Yes

Shareholders

  • Minimum number

2

  • Corporate shareholders allowed

Yes

  • Local  shareholders required

No

Service Providers Required

  • Company Secretary

No

 Tax Treatment

Non-resident income is tax exempt.

Duration to Set Up

3 months

Distinctive Benefits of Licence

  • Robust yet flexible regulatory environment
  • Professional infrastructure and quality of workplace
  • Tax neutrality and Tax Exchange Agreements

The Valsen Advantage

  • End to end comprehensive service
  • Speedy and efficient service
  • Expert advice on structuring options
  • Dedicated ongoing compliance support
  • Extensive network pool of service providers