Panama Company Dissolution
If you no longer require your Panama IBC we can assist with a company dissolution.
The cost to dissolve the company will be in the region of £1800 and for us to provide a precise quotation we require:
- The Panamanian company’s full legal name
- Does the company have any specific assets, which would need to be transferred out prior to dissolution
- Did the company engage in any commercial activity within the Republic of Panama
- Is the company currently in Good Standing with regards to its annual payments to Panamanian Tax Authorities, we can check if you are unsure.
- Do you have the company’s NIT number, so that we may be able to confirm that it is in compliance with its annual obligations, we can obtain it if you don’t have it.
We can apply for dissolution without involvement of current (nominee) directors or resident agent, but the owners must provide proof of ownership of the corporation.
If the company has no assets it can be dissolved without liquidation.
The dissolution of a Panamanian company is achieved by way of a Special Resolution signed by the shareholders of the company, which is later filed at the Panamanian Public Registry, the acknowledgement of liquidation termination (if applicable) may be included in the same resolution which approved the dissolution.
Usual timeframe is 7 days once the resolution is filed, a dissolution notice is published in a national newspaper.
- The Special Resolution of shareholders would commonly be executed by the Company’s President and Secretary.
- The original executed Special Resolution will be sent to our lawyers in Panama for them to proceed with filing at the Panamanian Public Registry.
- The company must be in Good Standing with payment of annual fees in order to proceed with dissolution filing at the Panamanian Public Registry
- Notice of Resolution to wind up will be published in the Panama Gazette of the Ministry of the President,
- The Dissolution of a company will commence upon submission of the Special Resolution to the Registry
- After the Registrar has been notified that the company has been dissolved the company will be struck off the Register and a Certificate of Dissolution will be issued
If the company has assets it cannot be dissolved without liquidation.
Liquidation – we can assist with liquidation if the company is transferred to our directors and resident agent as we can then change the previous directors and resident agent under shareholders instructions, and then perform the liquidation and the dissolution of the company.