hi, i would like to ask some questions about incorporating a company. let's say i have setup a website in the past without any business entity. it is making quite a profit and now i am thinking of incorporating a company for the website in panama, while i live in somewhere else. is it possible?
Answered on: 12/15/03, 11:56 pm by Jose Vega
It is indeed possible to set up a Panamanian corporation for your website, regardless the place you live in or your citizenship.
The information you have to provide is the following:
- the desired name for the corporation (in any language whatsoever),
- the capital amount (stated in any valid currency),
- how many shares would be the capital divided into,
- the type of shares (bearer, registered or both),
- the name of at least three people to serve as executive officers and directors.
Once you have completed the incorporation process you may transfer the domain of your website and the hosting account to your corporation. The profit made through the website may be considered exempt of income taxes in Panama.
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J. Vega & Asociados Avenida Samuel Lewis y Calle 53, Edificio Omega, 5 Piso Panama, NUS 000094► Other answers from this attorney