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Fees and timelines in 2023

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 typesCostDraft Invoice
CorporationUS$7,970View invoice PDF
LLCUS$8,320View invoice PDF
IBCUS$12,350View invoice PDF
PLCUS$6,970View invoice PDF
Branch officeUS$7,220View invoice PDF
Representative officeUS$9,440View invoice PDF
Free zone companyUS$7,970View invoice PDF
Private foundationUS$20,100View invoice PDF
Panama LLC packageUS$11,130View invoice PDF

Other fee considerations

Timelines

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

ServiceCorporationLLCBranchRep Office
Engagement Planning1 week1 week1 week1 week
Company incorporation period2 weeks2 weeks4 weeks4 weeks
Bank Account approval4 weeks3 weeks4 weeks4 weeks
Internet Banking approval3 weeks2 weeks2 weeks2 weeks
Engagement Completion1 week1 week1 week1 week
Total engagement period11 weeks9 weeks12 weeks12 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
  • Sales & Business Development 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
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