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HOME / PANAMA / ABOUT PANAMA

PANAMA

 ABOUT PANAMA

PANAMA FEES

PANAMA SHELF COMPANIES

ABOUT PANAMA

PANAMA

This Central America country is located between Colombia to the east and Costa Rica to the west. The country is best known for the Panama Canal which joins the Caribbean Sea to the Pacific Ocean and connects Central America to South America.

Panama is a Constitutional Democracy, which after its recent instability has settled into a peaceful nation where the military has been disbanded.

Panama has a land mass of approximately 76,000 sq.km and a population of 3.8 million, consists of mainly the Mestizos (70%) and a mix of West Indians, Caucasians and Indians.

There are three branches of Government, the Executive Branch, the Legislative branch and the Judicial Branch. Executive power is held by the President and the Ministers of State. The President and two Vice Presidents are elected for a five year term and cannot be re-elected for a consecutive term. While the President and two Vice Presidents are elected by majority vote, the Ministers of State are appointed by the President, subject to approval by the Legislative Assembly. The Legislative Assembly, composed of legislators, is elected from electoral districts. Each legislator is elected for a five year term. The Judicial Branch of Government consists of the Supreme Court of Justice, five Superior Courts and three Courts of Appeal. The Supreme Court of Justice is presided over by nine (9) judges appointed for ten (10) years each.

The Panama Canal and the other seaports and activity as a major transshipment point and Free Zones due to its strategic location and the canal has greatly contributed to its economic development. Other areas of economic activity are in agriculture, manufacturing, construction, transport, tourism and financial services.

Through its Banking Sector, it has earned the Republic a reputation for being a major financial center of Latin America.

The General Corporation Law, Law 32 of February 1927 for corporation and the Panama tax free company, is one of the oldest existing laws that provides for offshore company incorporation. Panama has incorporated in excess of 400,000 non-resident corporations and continues to place a high priority on the sector for its contribution to the national economy.

Panama offshore corporations are very prestigious offshore structures. The company registration process is very straight forward and you can choose from our list of shelf companies or incorporate an offshore corporation in 5-7 business days. Please choose corresponding menu on the left.


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