The taxation of companies on an international level generally follows the principle of decision-making power. A company is thus taxable in the country where ‘Management & Control’ is exercised.
In general, international authorities assume that ‘Management & Control’ of a company is exercised in the same country where the general manager/director resides.
Therefore, if the residence of the shareholder is outside of Panama, it makes sense to at least appoint respective Nominee-Directors or local general managers/directors at the registered office of the company.
The level of authority of the Nominee-Directors can be contractually determined according to the individual needs of the shareholder as well as the legal framework.
Additionally, an appropriate business address as well as a local telephone number with personal answering service is not only advisable, but in the majority of cases required. Whether a postal address, Office-Service or even business premises - we can offer you service packages for all your needs.
Note: It is of course also possible to appoint local managing directors instead of using Nominee-Directors, should you prefer to do so. We are happy to advise you on the one-off and running costs upon request!
‘Management & Control’
In case you are not able to, cannot or do not want to act as director of your company, or should you need additional directors (for example to reach the required three directors), you can appoint so-called Nominee-Directors.
Nominee-Directors represent the company externally and are acting under the leadership of the shareholder(s). Direct access to the capital of the company by the Nominee-Directors can be made non-existent or be limited accordingly. The scope of management and control that Nominee-Directors exercise can be determined individually. Of course, we are happy to advise you in this regard, represent the company externally and act on the instructions of the shareholder(s).
The shareholder(s) can, additional to the director of the company, be empowered to become active within the company, by means of corresponding power of attorney.
We are happy to support in any way, whether in relation to your choice of the Management-Package or with any other questions!
The Basic-Management-Package ‘Management & Control’ is particularly suited to shareholders who
- Are tax residents in Panama but do not want to be personally entered into the register or
- Are not resident in Panama and in this way want to keep ‘management and control’ of their entity in Panama.
The Basic-Management Package ‘Management & Control’ includes the following:
- Up to three Nominee-Directors for a full twelve months,
- A comprehensive consultation on the needs-based employment of directors,
- Preparation of individual contracts for the directors,
- A basic introduction to corporate documentation which includes the framework and guidelines for the company directors.
|Fees for the first 12 months:
|Fees for the following 12 months:
Note: Should you wish to employ local managing directors instead of Nominee-Directors, this is of course also an option. We are happy to provide information on the one-off and running costs upon request.