Panama

1. INTRODUCTION
- Independent country in Middle America. Even Panama is "classical" offshore country they keep their legislation "up-to-date".

2. ADVANTAGES
- Well established with good infrastructure and reputation.

3. DISADVANTAGES
- All the original documents are in Spanish.

4. COMPANY NAME
- Sensitive words "Bank", "Insurance", etc.
- Must end "Inc.", "Ltd", "Corp." or "S.A."
- Company name can be in any language.

5. SHAREHOLDERS
- min. 1, legal person or individual or bearer.

6. DIRECTORS
- min. 3, only individuals.

7. ACCOUNTS
- not needed

8. SHARE CAPITAL
- optimal - 10 000 $ (must not be paid up).

9. TIME TO SUPPLY
- from ready-made list - 3 days for courier.
- with new name - up to 30 days