The Republic of Panama is a well-known and developed jurisdiction granting licenses for doing business, including gambling. While accepting bets from residents of the Republic is forbidden, there are many advantages for the gambling companies registered there. Such companies are exempt from taxation; they can use modern networks and communication systems; accountability that must be provided is limited and simple.
The Republic of Panama licenses the operation of online casinos. The cost of permits starts from US$40,000 and its annual renewal – from US$20,000. To start a full-fledged online gambling business you need:
To be licensed in the Republic of Panama an online casino should be registered as an enterprise. Prifinance will assist you in dealing with all formalities and procedures. We provide registry services, services associated with obtaining a license and searching for official representatives.
To successfully start a business, its founders have to:
An application must be accompanied by information on the company location, types of gambling business, and names of persons directly or indirectly involved in work (personnel, owners, legal representatives). Information on financial structure, financial and tax reporting must be also provided. There are no requirements for the residence of founders and shareholders; information about them or beneficiaries should not be disclosed.