Limited Liability Corporation

A Limited Liability company (or LLC) is a form company or corporation that enjoys some distinctions from “normal” companies. At the most simple level, think of an LLC as a sleek cross between a company and a partnership, with all of the benefits of both.

Panamanian Limited Liability Corporation, similar to corporation, can be used to protect your assets from any threats.

In the limited liability corporation, the minimum number of partners shall be two (2) and the maximum twenty (20).

The limited liability corporation shall always be considered as mercantile entities, therefore being ruled, whatever their purposes may be, by the laws and use of commerce. LLC shall be constituted by means of a public deed that must be registered in the Public Registry of Panama.

Law No. 24 of Febrary 01, 1966 regulates Panama Limited Liability Company.

Panama Limited Liability Company provides these additional advantages:

• LLC have no limitation on the number of members
• There are no limitations on ownership of an LLC
• No corporate tax
• No asset tax
• No stamp tax
• Management of LLC may be accomplished by the members or by managers designated by the members

Procedures for Establishing a Panama Limited Liability Company

1. DETAILED PERSONAL INFORMATION: Please complete the Order Form with the required personal information.

2. THE NAME OF THE LIMITED LIABILITY COMPANY: The name of the limited liability company in any languages with characters of the Latin alphabet, and which to avoid confusion, shall not be identical or similar to that of any other limited liability companies previously registered in the Republic of Panama. The name shall include the word “Sociedad de Responsabilidad Limitada” (LLC) or abbreviation “ S de R. L” or “Sda, Ltda” to distinguish it from a natural person or from different kind of juridical person.

3. PARTNERS (DIRECTORS): On the online application, you should indicate whom you want to appoint as partners (directors) of your Limited Liability Company. The minimum partners members shall be two (2) and the maximum twenty (20). For the purpose of anonymity, you can opt for Nominee Council Members, which we will provide.

4. PASSPORT: Photocopy of the entire passport (all pages to comply with the requirements by the Law that demands to know the migratory movement of the client)duly authenticated by a Notary Public as true copy of the original document and that the photograph is a reasonable likeness, and apostilled if applicable

5. PROOF OF DOMICILE: Original of a credit card statement showing their full name and address; or original of a bank account statement showing their full name and address; or an original of a monthly statement of account issued for any public utility services supplied to the client showing their full name and address (electricity, water, telephone, cable TV or Internet).

6. BANK REFERENCE LETTER: At least one (1) bank reference lettersby reputable banking institutions stating the date they became a client of the respective banks,), duly authenticated by a Notary Public and where applicable;

7. ANOTHER LETTER OF REFERENCE: It may be a professional reference, in original, from a lawyer, accountant or financial consultant, or a business reference (any business) stating since what date they know the client personally), duly authenticated by a Notary Public and apostilled where applicable;

8. ADDITIONAL DOCUMENTS: On a case-by-case basis and depending on the amount of the volume of the funds, profile or activities of the companies, the company will have the right to request additional information or explanation.

9. PAYMENT OPTIONS:

   1. Wire Transfer: By choosing this payment option, you will need to add    US$15.00 for Wire Transfer Fee. We highly recommend this method of payment, for fastest delivery and minimum transfer fee. (We will e-mail you the detailed instructions).

10. TIME: Your Limited Liability Corporation can be established within 3 to 5 business days.