Panama Financial Services Company License

The following Laws provides the legal framework for the provision of the Panama Financial Services Companies in Panama:

  1. Law 42 of July 23, 2001
  2. Executive Decree No. 213 of October 26, 2010
  3. Law No. 6 of June 16, 1987
  4. Law No. 33 of July 4, 2002
  5. Resolution No. 14 of March 12, 2001

Permitted Activities

The Panama Financial Services License is obtained from the Panama Ministry of Commerce. This license allows the company to conduct the following activities:

  1. Open corporate bank accounts and accept 3rd party funds for bank card purposes, subject to bank approval.
  2. Act as a payment Intermediary.
  3. Conduct precious metal trading (gold, silver, platinum) over the internet.
  4. Factoring.
  5. Leasing (requires the company to have a capital of US$ 100,000 and pay an additional Government tax).

Legal Requirements

Sr.

No

ElementRequirement(s)
Entity RequirementsThe entity making the application is a Panamanian company under the Panama’s Corporation Law 32 of 1927 e.g. Corporations
Director’s Requirements
  • The Panama Company applying for the Financial Services License requires at least three Directors.
  • The directors can be from any jurisdiction.
Shareholder requirements
  • The company will need at least one shareholder.
Minimum Capital RequirementsIn most cases, a Panama Financial Services Company will not have a capital requirement (a minimum amount of paid in capital). The only major exception is leasing services, which requires special permission and capital of $100,000.

Ongoing Obligations

  1. Audited financial statement must be presented within four (4) months following the end of the fiscal year, that is, between January 1 to April 30 of the following year. (Duly audited by a CPA).
  2. For financial companies with a special fiscal period, they must present their unaudited financial statements by December 31 of each year. The audited financial statement must be presented within four (4) months following the end of the fiscal year. The Financial Statements must be presented in accordance with the model provided by the General Directorate of Financial Companies.
  3. Within the first four (4) months of the current year, the licensee must make the payment of Annual Rate for Inspection Service, for an amount of B /. 750.00.

About Valsen Fiduciaries

Valsen Fiduciaries is a licensed independent global service provider of a broad range of fiduciary, administrative, legal, corporate secretarial and support services.

    1. Company formations and Administration
    2. Assistance with Bank Account opening
    3. Collective Investment Setup and Administration
    4. Intellectual Property Registrations and Maintenance.
    5. Trusts and Foundations setup and administration
    6. Online Payment Gateway Solutions
    7. Banking Licenses and PSP, E-Money, E- Wallet Licenses
    8. Yacht and aircraft registrations.
    9. Cryptocurrency Solutions (ICO, STO, Crypto Exchanges etc)

The Valsen Advantage

  • We will advise you on the optimal legal structure for your requirements, size, expectations and circumstances. We have extensive knowledge of a wide range of securities dealer licenses in all major jurisdictions.
  • Valsen will assist to complete every form for each process in the best way we know how (Based on our many years’ experience with various regulators and service providers across the world)
  • We are very hands on in the post filing period checking with re regulator and service providers and updating you regularly. Any queries raised by the regulators and service providers during processing will be quickly synthesized by us and we shall craft the right responses to move the process forward fast.
  • We have a full in-house compliance support for all compliance requirements with the regulator and service providers

Our Contact Details

Please visit us on: www.offshorelicense-regulatory.com , www.valsen-corporate.com

OR Contact us on:

  • Tel: +248 4321018
  • WhatsApp: +248 2525217
  • Skype: vf-international.com
  • Email: [email protected]