Fees and timelines in 2024
Incorporation costs for a Panama LLC in year 1 amount to US$1,950, and annual company costs in year 2 and thereafter amount to US$0. The total average engagement fees will be US$10,770, 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$10,770 | View invoice PDF |
| IBC | US$12,350 | 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$22,100 | 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 |
