Panama Registered Agent
We provide a Registered Agent service in Panama.
It is a requirement within the Corporation Law of Panama to have a licensed registered agent in Panama providing a registered office service, for your company to remain complaint.
To transfer your Panama company we initial procure a statement from the Ministry of Economy and Finance (MEF) which confirms the outstanding government fees. When we have the outstanding Government fees and penalties we can send you the fee to transfer your Panama resident agent and directors without having the current resident agent or directors involved.
Ministry of Economy and Finance statement fee: £380
Fee to transfer your Panama Company
Our Panama transfer fee: £960 – plus the outstanding government fees – plus the 2021 Annual Maintenance fee: £1215
Panama Transfer fee includes –
- Panama Company Search to check status
- Transfer in Panama company fee
- Retaining the company name in the register
- Director and Shareholder due diligence – £80 each
- Preparation or change of the memorandum
- Preparation of transfer applications
- Submission of transfer applications to the registry
- Annual Corporate Franchise Tax – US$300
- Notary fees – US$250
- Resolution to transfer company
- Panama registry filing fee
- Panama Government Fees
- Public Deed Registration fee – US$150
- Resident Director if required
- Confirmation of Registered Office for documentation
- Extract from the Register of Directors
- Extract from the Shareholder Register
Panama 2021 Annual Maintenance fee includes –
- Provision of Registered Office: £590
- Government fee: US$300
- Company Secretary: £240
- Shareholder & Directors Register Maintenance: £175
A transfer out fee may be charged by your current Registered Agent in Panama
To transfer Panama registered agent to ourselves we will require a copy of the original documents showing the Directors and Shareholders from when the company was incorporated. Due diligence will also be required on the directors and shareholders.
Resident Agent’s Functions and Requirements in Panama
Panama law requires all companies have a resident agent within Panama, the agents our main function is to liaise between your company and the Panamanian Government, as well as provide reminders for annual obligations.
As resident agent we are authorised to pay the Annual Franchise Tax, which is the annual tax your Panama registered company needs to pay, along with the declaration.
The Panama Resident Agent will ensure your Panama company maintains a status of Good Standing.
Registered Agent Duties
Apart from lending the office address to be used as the legal address of your company, the Registered Agent is also legally responsible for safe custody and update of certain corporate documents – namely, the Memorandum and Articles of Association, the Register of Shareholders or a copy, the Register of Directors or a copy, copies of all resolutions, notices and filings produced by the company.
Unless the directors of the company have resolved otherwise, the Registered Agent is also the custodian for all Minutes of the Meetings and Resolutions of Shareholders, and all Minutes of Meetings and Resolutions of Directors.
It is the duty of the Registered Agent to keep these documents up-to-date and available for inspection by the directors, shareholders and owners of the IBC.
The Registered Agent acts as the official intermediary between the offshore company and the Panama Government, in particular the payment of the Government renewal taxes.
Transfer Panama Registered Agent
The resident agent transfer can be done without the approval or release of the current one, as long as the owner of the corporation approves the change through an amendment to the original deeds, and owed fees to the government are paid.
The change of Registered Agent is straightforward although, clients trying to avoid the payment of the previous company renewal fees will encounter difficulties.
Transferring Registered Agent:
- Company Search to check company status and details
- Transfer-Out fee charged by your current Registered Agent
- Due Diligence on the Directors and Shareholders
- Registered Office/ Registered Agent 12 months fee
- Directors Register Maintenance fee
Please contact us with the name of your Panama company, we will initially undertake a Company Search to prepare the Director’s Resolution and contact the current Registered Agent.