S.A. CORP. o INC.

• Establishment of the legal name of your entity.
• Being the subject of law that will allow the acquisition of goods, signing contracts on behalf of the company, establishing the legal platform to support the business, registering logos, among others.
• Establishment of the legal platform to have a bank account and thus manage the funds independently of the staff.
• Legal establishment for the hiring of employees of your company.
• Legal establishment of the owners of the company, whose information will not be public, with their due percentages in share certificates, which will allow them to be sold in the future and also separate personal assets from those of the company.
• Legal establishment of the dignitaries (President, Secretary and Treasurer) and the directors (which are usually the same as the dignitaries), who are in charge of managing the company, from a legal perspective.
• By being able to operate in other countries, they are totally exempt from paying taxes in any commercial activity carried out outside the Republic of Panama.

• A minimum of three (3) natural and/or legal persons, Panamanian and/or foreign that will form the Dignitaries and Directors of the company. (Copies of identity cards or passports and address of each one).
• Have a name that is not already in use by another legal entity in Panama.
• Have a place that can be the domicile of the entity.
• Define what will be the commercial activities that the company will carry out.
• Define the shareholding structure and determine final beneficiaries
• Determine who will have the Legal Representation of the company.

With this information you can have a meeting with the lawyer to start the next steps, consisting of drafting the Articles of Incorporation. After this, the documents will be formalized in a Notary for presentation in the Public Registry of Panama. Once registered, you can obtain the Unique Taxpayer Registry (RUC) and the Notice of Operation for your business.

• Comply with the updating of due diligence by the Resident Agent.
• Have a minute book and an accounting book, for which the assistance of an authorized public accountant will be necessary.
• Submit the Income Statements and other special reports to the General Directorate of Revenues in a timely manner.
• Comply with the payment of taxes, rates and other specific tax contributions, as well as the payment of the amounts generated because of these, for which the assistance of an authorized public accountant will be necessary.
• Pay the single annual tax fee (B.300.00) in a timely manner.

The Notice of Operation is required for the start of a commercial, industrial or service activity in the territory of the Republic of Panama and to obtain it, it will be necessary to request it through the website PanamaEmprende, which is a system that seeks to promote the rapid creation of companies.

• Make sure you have a valid and always active email address as this will be your username. If you don't have a valid email address you can create one at: Yahoo Hotmail Gmail Lycos Latinmail or the website of your choice.
• Fill out the User Registration Form.
• To Enter the PanamaEmprende System write your Email, Password and press the Enter button.

In order to link your employees to the company, you must register as an employer, notifying the Social Security Fund (CSS) of its existence and its general information and the process by which the CSS assigns you an identification number (Employer Number), which will identify you according to your geographical location and the type of commercial activity to which the company is dedicated. Under this number, you will carry out all transactions and relationships with the CSS for the duration of your existence as an Employer. For this process you can assist with a certified public accountant.

• That the employer has started operations with at least one (1) worker.
• List of employees indicating: full name, Social Security Number (if any), ID Number, start date of work and position.
• Fill out and duly sign the "APPLICATION FOR REGISTRATION OF EMPLOYERS BEFORE THE PROFESSIONAL RISKS PROGRAM".
• Fill out and sign the Employer Registration Application.
• Fill out and Sign the Digital Signature Contract.
• Provide the current Public Registry Certificate or Agreement of Constitution, Notice of Operations if warranted, a copy of the Single Taxpayer Registry form in the registrations with RUC and a copy of the valid identity card, passport or migration card of the Legal Representative.