Creating a Company in Panama: Everything You Need to Know in 2025

How quickly you can set up a company in Panama depends on several factors, including the type of company you want to establish and the preparation of the necessary documents. In general, the process of setting up a company in Panama can be completed in just 3 to 5 business days. However, some additional procedures, such as opening a bank account in the company's name, may take longer.

A key point to highlight is that, thanks to modern technology and the support of specialized lawyers such as those at Limitless Legal, you don't need to travel to Panama to complete these procedures. Everything can be done remotely, saving significant time and costs.

Creating a company in Panama involves several specific stages. Below, we detail each one and the approximate time they require:

• Constitution and Incorporation of the Social Pact: This is the company's basic document that details the structure, objectives and participants. Your registration in the Public Registry of Panama takes between 3 and 5 business days.
• Receipt of Corporate Documents: This includes stock certificates, corporate books and your company's Public Registry certification. This process is usually completed within a week.
• Bank Account Opening: Opening a business bank account can take between 4 and 8 weeks, depending on the bank and additional compliance requirements.

With professional advice, all of these stages can be managed precisely and without unnecessary delays.

Although Panama is recognized for the speed of its corporate procedures, there are factors that can influence the times, such as:

• Type of Company: Public limited companies tend to be the fastest to create, while more complex companies, such as private interest foundations, may require more time.
• Documentation: The preparation and legalization of documents such as the Social Pact, notarized copies and identity checks are key.
• Bank Selection: Each bank in Panama has specific requirements for account openings, such as international bank references and financial statements.

Working with a team of experienced attorneys such as those at Limitless Legal can make a big difference in reducing potential complications.

Panama offers a favorable environment for international business thanks to its tax and legal benefits. Some of the key benefits include:

• Tax Exemptions: Income earned outside of Panama is exempt from taxes.
• Asset Protection: Legal structures such as public limited companies and foundations help protect assets.
• Ease of international expansion: The country has trade agreements that facilitate access to global markets.

Understanding these advantages can help you make the most of your investment in the country. Remember that at Limitless Legal, we're here to guide you every step of the way.

While setting up companies in Panama is quite agile compared to other countries, these practical tips can simplify your experience even more:

1. Request professional advice: Having lawyers specialized in corporate law in Panama can significantly reduce the time and bureaucracy of the process.
2. Gather all the necessary documents in advance: This includes notarized copies of passports, bank references and a clear plan for the subscribed share capital.
3. Choose banks with experience opening accounts for foreigners: We research the right options based on your business profile.
4. Stay in constant communication: A good legal team will keep you informed about every step of the process.

At Limitless Legal, our priority is that you create your company efficiently and without worries.