Panama is undoubtedly a center of attraction for foreign investment. The center of Panama is 2 hours ahead of the center of the United States according to the time in Panama.

Its extremely convenient location and laws favorable to all forms of investment will continue to keep Panama at the forefront of the Latin American economy, attracting investors from around the world.

Once you have a business proposal for your business establishment, you can start doing business and start issuing invoices.

If the board members are foreigners, all the onboarding steps and procedures are a little more complicated and take longer to complete.

Panama offers extensive laws that provide benefits to tax, labor, immigration and customs authorities, as companies incorporated in the Free Zones, they enjoy incentives to encourage foreign investors under Panama Free Zones Law No. 32. Direct Investment ( IED) in the region, including the Colon Free Zone, Panama Pacifico and Knowledge City, among others.

How Quickly Can I Start A Business?

When creating a company in any sector of Panama, there are a series of very simple and quick legal requirements that must be fulfilled.

• [ ] The requirements of a free zone are different from those of common companies and present a series of competitive advantages.
• [ ] To set up a joint venture company, the most recommended option is a joint stock company. SA They are the system that governs 90% of business in Panama.
• [ ] Incorporation of this type of company takes 5-7 business days after fulfilling the requirements in Panama.
• [ ] In its composition, the Board of Directors is composed of a minimum of three and a maximum of seven.
• [ ] They don't have to be shareholders.