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D. Capital
The Authorized Capital of the corporation must be set forth in the Articles of Incorporation and can be established in U.S. dollars or any other currency or both. The capital of the corporation does not need to be paid at the time of incorporation. A full share’s subscription is not required by law. If Bearer Shares are to be issued by the Corporation, they must be paid upon their issuance and recorded in the form which is established by law, on the other hand, no such requirement is established for shares issued in Nominative form. Written agreement can be reached to effect payment in future dates. There is no agency of the Government which requires offshore corporations to disclose its minute’s book, stock registration book or accounting books or any other electronic means of control. Offshore Corporations are considered to be those that engage in business outside the territory of Panama and even if domiciled locally, perfect or carry on their business outside of Panama. (If need be, the Minutes book and Stock Registry may bear the signature of a Panamanian Public Accountant). There are no legal requirements for the assets of the Corporation to be equal to the Authorized Capital mentioned in the Articles of Incorporation. Thus, a corporation with US$10,000.00 capital may have a bank account or own a real property in any part of the world, worth more than the authorized capital. |
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