Company Incorporation
Standard company incorporation under Panama's general corporate framework for crypto operations, with AML/CFT compliance under Law 23 of 2015 and beneficial ownership reporting under Law 129.
Commercial Code, Law 23 of 2015, Law 129 of 2020 (Beneficial Ownership)
Capital Required
No legal minimum; USD 10,000 recommended
Timeline
2-4 weeks
Fees
USD 300-1,000 registration + USD 1,000-2,000 annual registered agent
Regulatory Body
SBP (Banking Superintendent) / SMV (Securities Superintendent) / UAF (Financial Analysis Unit)
Legislative Framework
Commercial Code, Law 23 of 2015 (AML/CFT), Decree Law No. 1 of 1999 (Securities Market Law)
Last updated: June 2025
Key Requirements
Prepare articles of incorporation specifying company name, purpose, capital structure, and director/officer information.
Identify beneficial owner(s) and provide detailed beneficial ownership documentation per Law 129 of 2020 requirements.
Appoint qualified registered agent maintaining office in Panama with accessible registered office location.
Establish company bank account(s) with Panama-based financial institution meeting AML/CFT verification requirements.
Develop internal AML/CFT compliance procedures addressing customer identification, beneficial owner verification, and transaction monitoring.
Maintain company records including corporate minutes, shareholder registry, and beneficial ownership documentation.
Register company with National Directorate of Revenue (DGI) for tax identification number assignment.
If conducting financial activities, register with appropriate supervisory authority (SBP for banking, SMV for securities, UAF for virtual assets).
Application Process
Prepare articles of incorporation with company name, registered address, authorized capital, and director details.
Compile beneficial ownership documentation including identification documents and declaration of beneficial owners.
Engage registered agent in Panama to maintain registered office and accept service of legal documents.
Submit company incorporation documents to Public Registry (Registro P煤blico) with appropriate registration fees.
Obtain Public Registry certification and company registration number (articles of incorporation).
Open company bank account(s) with Panama financial institution providing bank certification of account opening.
Register company with DGI for tax identification number obtaining tax clearance documentation.
Register with relevant financial supervisory authority (SBP, SMV, or UAF) if conducting regulated activities.
Expected Total Timeline
2-4 weeks
Ongoing Obligations
After obtaining your Company Incorporation, these are the continuing compliance requirements you must maintain.
Maintain company registration with Public Registry with annual renewal and corporate documentation updates.
Submit annual beneficial ownership certification to Public Registry (Form PEP) confirming beneficial owner information.
Maintain registered agent services throughout company lifetime with annual registered agent fee payments.
Conduct annual shareholder meetings with documented minutes and shareholder registry updates.
File annual tax returns with DGI demonstrating company financial activity and income reporting.
Maintain bank account(s) with evidence of operational activity and AML/CFT compliance with banking institution.
Update beneficial ownership information with Public Registry within 15 days of any material changes to ownership structure.
Cost Summary
Capital Requirement
No legal minimum; USD 10,000 recommended
Application & Licensing Fees
USD 300-1,000 registration + USD 1,000-2,000 annual registered agent
Jurisdiction Setup Cost
$3,000-$8,000
Annual: $2,000-$5,000
Other Panama Licenses
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