Types of Business Entities -

The main types of Business Entities in the Republic of Panama are the Corporations (Sociedad Anónima) and the Private Interest Foundations (Fundación de Interés Privado). Limited Liability Companies (LLC) may be incorporated as well; however, the corporations represent most of the registrations.

These business entities have the following advantages:

• They offer total secrecy and anonymity;

• There is no requirement to disclose shareholders or beneficiaries;

• There is no requirement to file annual returns or financial statements;

• There is a full exemption from taxation on any business activity or transaction carried outside of Panama;

• Simple ongoing administration;

• The accounting books may be kept anywhere in the world.