Fees and timelines in 2022

payment by instalmentIncorporation costs for a Panama LLC in year 1 amount to US$1,750, and annual company costs in year 2 and thereafter amount to US$0. The total average engagement fees will be US$8,320, including company incorporation, opening a corporate bank account, VAT and tax registration and all government fees.

Different Panama entity types Cost Draft Invoice
Corporation US$7,970 View invoice PDF
LLC US$8,320 View invoice PDF
IBC US$7,220 View invoice PDF
PLC US$6,970 View invoice PDF
Branch office US$7,220 View invoice PDF
Representative office US$9,440 View invoice PDF
Free zone company US$7,970 View invoice PDF
Private foundation US$20,100 View invoice PDF
Panama LLC package US$11,130 View invoice PDF

Timelines

The average Panama company registration period is 11 weeks as outlined below:

Service Corporation LLC Branch Rep Office
Engagement Planning 1 week 1 week 1 week 1 week
Company incorporation period 2 weeks 2 weeks 4 weeks 4 weeks
Bank Account approval 4 weeks 3 weeks 4 weeks 4 weeks
Internet Banking approval 3 weeks 2 weeks 2 weeks 2 weeks
Engagement Completion 1 week 1 week 1 week 1 week
Total engagement period 11 weeks 9 weeks 12 weeks 12 weeks

panama business registration engagement period timeline

  • Preparing a detailed project plan;
  • Our Client confirms the corporate structure;
  • Collecting due diligence from our Client.
  • Our Client signs the corporate bank account opening forms;
  • Healy Consultants prepares a business plan;
  • Healy Consultants visits the bank for interview;
  • The Bank Legal and Compliance Department review and approve the banking application;
  • The Bank Front Office email corporate bank account numbers to our client.
  • The Bank Operations Department mails the internet username and passwords to our Client;
  • Some of our Clients’ request Healy Consultants to activate the internet banking on their behalf.
  • Healy Consultants confirms all Client due diligence is received;
  • Healy Consultants couriers to our Client the complete original company and bank account documents;
  • Our Client completes our web page feedback survey;

Contact us

For additional information on our company registration services in Panama, please contact our in-house country expert, Mr. Petar Chakarov, directly:
client relationship officer - Petar
  • Mr. Petar Chakarov
  • Client Engagements Manager
  • Contact me!
ministry of foreign affairs ministry of economy and finance panama tourism sumarse - corporate social responsibility tourism authority of Panama ministry of commerce and industry