The Republic of Panama is the country that links Central and South America. Its neighbors are Costa Rica to the northwest and Colombia to the southeast and the country also borders the Caribbean Sea and Pacific Ocean. Panama is about 75,500 square kilometers with approximately 3,300,000 people. Spanish is the official language of Panama. The country has a hot tropical climate with lush jungles and wildlife. The government of Panama is a constitutional democracy with a President and two Vice Presidents, all who are elected for a five-year term. The government is comprised of an Executive Branch, Judicial Branch, and Legislative Branch.
Various tribes originally lived in Panama, but disease and warfare with the Spaniards decimated them. The Spanish conquistadors traveled through Panama in their search for gold. The region was colonized and occupied by Spain for 300 years. Eventually, in 1821, the Republic of Panama declared its independence from Spain. It was still joined with Colombia though until 1903 when it declared its independence from its neighboring country. The United States, who had encouraged this secession, gained rights to the area where they would build the Panama Canal by paying annual rent in addition to the initial purchase. The United States did hand the Canal over to the Republic of Panama during the 20th century. Panama has experienced some upheaval and the U.S. Army was sent into the country in the 1980's. The country has settled down since 1990 though.
Panama used to benefit economically from the American military forces stationed at the Panama Canal, but the country had to turn elsewhere when America gave the Canal back and left. Because of its legislation and many ports, trading is a major industry in Panama. Tourism and financial services are also major industries. In fact as much as 70% of Panama's income is generated by its ports and docks, financial services, and exports. Some of Panama's products are sugar, coffee, bananas, and livestock. With easy access to the ocean, Panama also has a thriving fishing industry. The Republic of Panama has gained a reputation as a major financial center of Latin America, and it offers an array of services for offshore banking companies. There are more than 400,000 non-resident corporations in Panama and the country works hard to protect this thriving industry.
Our packages include the following:
- Certificate of Incorporation and Certified bound copy of the Memorandum & Articles of Association
- Registered office & agent fee for the first year
- Government fees for the first year
- Company Secretarial Maintenance for the first year
- Share Certificate
- Register of Directors and Register of Members
- Appointment of First Director
- Consent letters etc
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