Entrepreneurship Law
Partners: companies under this law must be constituted from 2 to 5 partners with domicile in Panama. The partners will remain as the beneficiaries of the company and can only be natural persons who are not involved in another entrepreneurship company.
Resident Agent: traditional corporations in Panama required a lawyer as a resident Agent who will be the contact between authorities and the company. However, entrepreneurship companies are exempted of this requirement.
Capital: The minimum share capital required is five hundred dollars US$ 500.00.
Taxes: Entrepreneurship companies are exempted of annual corporation tax (tasa única annual). Income tax will also be exempted within the first two years of constituting the company.
Online procedures: Once a public deed which record the constitution of an entrepreneurship company has been duly written and notarized, the registration process and other procedures for its legal operation can be done online.
Other benefits:
- There is an exemption from using Fiscal printers.
- Discounts up to 50% on import duties of supplies and raw material that are required for the creation of innovative products, services or processes.
- The same benefits and incentive given to micro and small companies will be provided to entrepreneurship companies.
