Why Panama?
Advantages
- Lack of crypto-regulation. Activities related to crypto-assets do not require a license.
- Low costs of doing business. The low cost of corporate services and the absence of license fees and dues can be an important business advantage.
- Flexibility of corporate legislation. Possibility of quick registration of companies, no requirements for authorized capital. Relatively easy to maintain corporate documentation.
Limitations
- Lack of an official license. The lack of a license negatively affects the recognition of a cryptoproject at the international level.
- Limited access to payment systems and banks. Lack of license may make it difficult to open accounts in developed jurisdictions.
- The requirements are to have a minimum of 3 directors. They can be persons with citizenship and residency of any country, and our team is ready to provide support in this part too.
- Risks of regulatory change. The global proliferation of FATF standards and the growing number of crypto-regulated countries may lead to stricter regulations for crypto projects in Panama in the future.
Who Panama suits
- Token Issuers.
- Crypto exchanges and exchanges.
- P2P platforms.
- Cryptocurrency wallets and depositories.
- Crypto funds and other investment companies.
- Mining.
- DAO.
- DeFi protocols.
- NFT and GameFi startups.
Cost
The level of costs for legalization in the jurisdiction is below average
- State duty for company formation: USD 300.
- Authorized capital: no minimum requirements, at least USD 10,000 is recommended.
- State fee for consideration of the application for a license: none.
- Annual state Franchise Tax: USD 300.
Main stages of legalization
- Choosing the name and form of the company.
- Preparation of documents and application for registration.
- Registration with the Registrar of Companies.
- Payment of a fixed annual fee.
- Receipt of registration documents.