Nikolai Timofejev
15 years in FinTech and payments. Maps your business model to the right licence scope and leads the file all the way to the SMV's licence, including banking and payment rails.
Get an investment license in Panama.
A dollar-denominated licence with a fee list in the statute and no clock. The Superintendencia del Mercado de Valores licenses three kinds of firm under the Texto Único of Decreto Ley 1 de 1999: the casa de valores, buying and selling securities for clients or own account, at B/.250,000 of capital under Acuerdo 2-2011 article 5 plus a B/.1,000,000 professional-liability policy; the asesor de inversiones at B/.50,000 under Acuerdo 1-2015 article 5, advice and discretionary account management without custody; and the administrador de inversiones that a sociedad de inversión must appoint under Acuerdo 5-2004. Registration costs B/.10,000 for a casa and B/.5,000 for an asesor (article 25), the annual charge is 0.0025% of traded volume between B/.5,000 and B/.100,000, and the law sets no decision period for either licence. Income tax is 25% on Panamanian-source income only, dividends bear 10% or 5%, and the register held 48 casas, 57 asesores and 22 administradores at 31 August 2026.
27 yrs
on the international marketon the market
60+
in-house specialistsspecialists
400+
Licenses obtainedlicenses obtained
Updated
Panama in brief
Three licences, a fee list in the statute, and no clock.
Panama's securities law is Decreto Ley 1 de 8 de julio de 1999, read in the Texto Único that folds in Ley 67 de 2011, which created the Superintendencia del Mercado de Valores. Article 50 is the gate: only a holder of the SMV's licence may run a casa de valores or asesor de inversiones business. Article 49 defines them - the casa de valores buys and sells securities for third parties or its own account; the asesor advises, for a fee, on the price of securities or whether to invest, accountants, lawyers and professors whose advice is incidental excluded; the administrador de inversiones manages the portfolio a sociedad de inversión delegates, an appointment Acuerdo 5-2004 article 15.3 makes mandatory. Below the firms sit the natural-person licences of corredor de valores y analista and ejecutivo principal, earned by SMV examination - 200 questions in four hours, a further 100 for the ejecutivo - at B/.100 a sitting.
The numbers are in the acuerdos. A casa de valores keeps B/.250,000 free of encumbrances at all times (Acuerdo 2-2011 article 5), holds low-risk liquid assets equal to at least 30% of its liabilities falling due within a year (article 6) and carries a professional-liability policy of at least B/.1,000,000 (article 9); an asesor needs B/.50,000 under Acuerdo 1-2015 article 5 and errors-and-omissions cover whose amount the guide leaves open. The capital of an administrador de inversiones in Acuerdo 5-2004 article 40, and the solvency ratios of Acuerdo 4-2011, are obtained from the SMV and confirmed for your file before quoting. The Texto Único prints the fees - B/.10,000 to register a casa, B/.5,000 an asesor, then 0.0025% of annual traded volume between B/.5,000 and B/.100,000 - but no decision period: articles 50 to 57 set none, and Acuerdo 2-2011 article 8 gives the applicant 30 calendar days to answer observations and the SMV none. We build from Panama City.
Three SMV licences under the Texto Único of Decreto Ley 1 de 1999: the asesor de inversiones at B/.50,000 (Acuerdo 1-2015 art. 5), the casa de valores at B/.250,000 with a B/.1,000,000 liability policy (Acuerdo 2-2011 arts 5, 9), the administrador de inversiones - fees B/.5,000 and B/.10,000, annual 0.0025% of volume, no statutory decision period.
25% territorial income tax, dividends 10% or 5%, CAIR 4.67%; 48 casas, 57 asesores and 22 administradores at 31 August 2026; 4,064,780 people. Built from Panama City.
The two builds
The asesor de inversiones - or the casa de valores.
Two licences five times apart in capital: the asesor at B/.50,000 for advice and discretionary account management without custody, or the casa de valores at B/.250,000 with the full order-execution, dealing and custody scope. We fix the licence first, then build once.
The B/.50,000 asesor - or the B/.250,000 casa de valores.
01 - ASESOR DE INVERSIONES · ACUERDO 1-2015
The adviser and account manager
Advice, recommendations, financial studies, foreign-exchange guidance and the discretionary administration of client accounts under Acuerdo 1-2015 article 4 - everything but custody, which an asesor may not hold. B/.50,000 of capital under article 5, an errors-and-omissions policy, one Ejecutivo Principal, one Analista and one compliance officer (article 10.4), two of them permanently resident in Panama. Legal persons only; a foreign company registers first in the Registro Público. B/.5,000 to register, B/.2,500 a year paid in January.
Advice, recommendations, financial studies, foreign-exchange guidance and the discretionary administration of client accounts under Acuerdo 1-2015 article 4 - everything but custody, which an asesor may not hold. B/.50,000 of capital under article 5, an errors-and-omissions policy, one Ejecutivo Principal, one Analista and one compliance officer (article 10.4), two of them permanently resident in Panama. Legal persons only; a foreign company registers first in the Registro Público. B/.5,000 to register, B/.2,500 a year paid in January.
- ✓Advice and discretionary account management (art. 4)
- ✓No custody accounts
- ✓B/.50,000 capital (Acuerdo 1-2015 art. 5)
- ✓Ejecutivo Principal + Analista + compliance officer
- ✓B/.5,000 registration · B/.2,500 a year
- ✓57 asesores on the register (31 Aug 2026)
02 - CASA DE VALORES · ACUERDO 2-2011
B/.250,000 capital + B/.1,000,000 policyThe full securities house
Reception, transmission and execution of orders, dealing on own account, custody and portfolio management under Acuerdo 2-2011 article 3, with an exclusive corporate object and nominative shares: B/.250,000 of capital free of encumbrances (article 5), liquid assets of at least 30% of short-term liabilities (article 6), a B/.1,000,000 professional-liability policy (article 9), client assets kept off balance sheet with daily reconciliations (article 42), and SMV consent for any change of control at 25% or more (articles 24-25). Registration B/.10,000; annual fee 0.0025% of traded volume, minimum B/.5,000, maximum B/.100,000. Foreign-exchange trading for clients falls under Acuerdo 4-2013.
Orders, dealing, custody and portfolio management under Acuerdo 2-2011 - B/.250,000 capital, 30% liquid assets, a B/.1,000,000 policy, client assets off balance sheet, B/.10,000 to register.
- ✓Orders, dealing, custody, portfolio management (art. 3)
- ✓B/.250,000 capital · 30% liquid-asset rule
- ✓B/.1,000,000 professional-liability policy (art. 9)
- ✓Ejecutivo Principal + Corredor de Valores + compliance officer
- ✓B/.10,000 registration · 0.0025% of volume a year
- ✓48 casas on the register (31 Aug 2026)
Costs and timelines are confirmed for your case before any work begins. The fees above are the Texto Único's articles 25 and 26; the capital of an administrador de inversiones and the Acuerdo 4-2011 solvency ratios are obtained from the SMV before the file opens.
Why Panama
Six things to know before filing in Panama.
Panama sells a dollar licence with printed fees, a territorial tax system and a working register - without a decision clock.
✓
B/.50,000 to advise and manage
Acuerdo 1-2015 article 5 sets an asesor's capital at B/.50,000, and article 4 lets it administer client accounts on a discretionary basis - only custody is closed to it. The balboa is at par with the US dollar.The asesor tier, dollar at par.
✓
Fees printed in the statute
Texto Único articles 25 and 26: B/.10,000 to register a casa de valores, B/.5,000 an asesor, B/.10,000 an administrador; then 0.0025% of traded volume a year between B/.5,000 and B/.100,000, or B/.2,500 flat for an asesor.Articles 25 and 26.
✓
A territorial 25%
Income tax of 25% on Panamanian-source income only (Código Fiscal article 694), with foreign-source and exempt profits distributed at a 5% dividend tax instead of 10%.Local-source income only.
✓
48 casas, 57 asesores, 22 administradores
The SMV's lists at 31 August 2026 - 5 banks, 10 bank or group subsidiaries and 38 independent casas among them, one in merger and three in liquidation - a register that shows the licence is granted and used.The register, 31 August 2026.
✓
No ownership cap, and a door for foreign houses
No foreign-ownership limit appears in the law; a foreign company registers in the Registro Público and applies. Article 57 and Acuerdo 1-2023 let a casa from a recognised jurisdiction rely on home-state rules for some requirements.Foreign houses register and apply.
✓
No clock, and two figures confirmed per case
Articles 50 to 57 set no decision period for a casa or asesor; only a sociedad de inversión gets 30 business days (Acuerdo 5-2004 article 23). The administrador's capital in article 40 of that acuerdo and the Acuerdo 4-2011 solvency ratios are obtained from the SMV before filing.Two figures from the SMV.
How it compares
How Panama differs from other routes.
The honest comparison: a fixed dollar capital and printed fees with no clock - against Montevideo's indexed guarantees, Lima's 30 plus 30 days and Buenos Aires' 20 business days in UVA.
Panama vs other jurisdictions
| Feature |  Panama | Other jurisdictions |
|---|---|---|
| Regime | Texto Único DL 1/1999 · Acuerdos 2-2011, 1-2015, 5-2004 - SMV licence | Ley 18.627 Uruguay · LMV DS 020-2023-EF Peru · Ley 26.831 Argentina |
| Capital | B/.50,000 asesor · B/.250,000 casa de valores | Guarantees UI 250,000-2,000,000 Uruguay · S/ 750,000 SAFI Peru · 65,350-470,350 UVA Argentina |
| Scope | From Panama, no passport, no foreign-ownership cap | Uruguay, Peru, Argentina: onshore only, no passport |
| Timeline | No statutory period for casas or asesores | None found Uruguay · 30 + 30 days Peru · 20 business days Argentina |
Regime
PanamaTexto Único DL 1/1999 · Acuerdos 2-2011, 1-2015, 5-2004 - SMV licence
Other jurisdictionsLey 18.627 Uruguay · LMV DS 020-2023-EF Peru · Ley 26.831 Argentina
Capital
PanamaB/.50,000 asesor · B/.250,000 casa de valores
Other jurisdictionsGuarantees UI 250,000-2,000,000 Uruguay · S/ 750,000 SAFI Peru · 65,350-470,350 UVA Argentina
Scope
PanamaFrom Panama, no passport, no foreign-ownership cap
Other jurisdictionsUruguay, Peru, Argentina: onshore only, no passport
Timeline
PanamaNo statutory period for casas or asesores
Other jurisdictionsNone found Uruguay · 30 + 30 days Peru · 20 business days Argentina
Country by country
| Country | License type | Taxation | Requirements |
|---|---|---|---|
| Panama | SMV - casa de valores · asesor · administrador | 25% territorial · dividends 10% / 5% | B/.50,000-250,000 · fees B/.5,000-10,000 · no clock |
 Uruguay | BCU/SSF - intermediario · asesor · gestor de portafolios | IRAE 25% · IRNR 7% dividends · IVA 22% | Guarantees UI 2,000,000 intermediary · UI 250,000 asesor · no published clock |
 Peru | SMV - SAB / SIV · SAFI / SAFM | 29.5% · 5% dividends abroad | SAFI S/ 750,000 · SAB capital confirmed per case · 30 + 30 days (RAI arts 22, 28) |
 Argentina | CNV - ALyC · AN · AAGI · AP | Ganancias 25% / 30% / 35% scale | ALyC 470,350 UVA · AN and AAGI 65,350 UVA · 20 business days (art. 49) |
PanamaLicense typeSMV - casa de valores · asesor · administrador
Taxation25% territorial · dividends 10% / 5%
RequirementsB/.50,000-250,000 · fees B/.5,000-10,000 · no clock
UruguayLicense typeBCU/SSF - intermediario · asesor · gestor de portafolios
TaxationIRAE 25% · IRNR 7% dividends · IVA 22%
RequirementsGuarantees UI 2,000,000 intermediary · UI 250,000 asesor · no published clock
PeruLicense typeSMV - SAB / SIV · SAFI / SAFM
Taxation29.5% · 5% dividends abroad
RequirementsSAFI S/ 750,000 · SAB capital confirmed per case · 30 + 30 days (RAI arts 22, 28)
ArgentinaLicense typeCNV - ALyC · AN · AAGI · AP
TaxationGanancias 25% / 30% / 35% scale
RequirementsALyC 470,350 UVA · AN and AAGI 65,350 UVA · 20 business days (art. 49)
Before you apply
Requirements for the Panamanian licence.Requirements for the licence.
The SMV looks at capital, insurance, licensed people and residence before anything else - and it meets you before you file. The checklist below is what a complete application contains.
01
Panamanian legal person with an exclusive object - a casa de valores may do nothing but the business of a casa de valores (Acuerdo 2-2011 article 3), with nominative shares and the SMV's prior authorisation for any change of control at 25% or more (Texto Único article 56; Acuerdo articles 24-25); an asesor must be a legal person, a foreign one registered in the Registro Público.
02
Capital - B/.250,000 for a casa de valores, free of encumbrances at all times (Acuerdo 2-2011 article 5); B/.50,000 for an asesor (Acuerdo 1-2015 article 5); the administrador figure in Acuerdo 5-2004 article 40 confirmed with the SMV.
03
Liquidity - a casa holds low-risk, highly liquid investments of at least 30% of its liabilities with a residual term under one year (article 6); the net-capital rules of Texto Único article 55 and Acuerdo 4-2011 apply on top.
04
Professional-liability insurance - at least B/.1,000,000 for a casa (article 9); errors-and-omissions cover for an asesor, amount set with the insurer.
05
Licensed people - a casa needs at least one Ejecutivo Principal, one Corredor de Valores and one Oficial de Cumplimiento (article 9.4); an asesor one Ejecutivo Principal, one Analista and one compliance officer (Acuerdo 1-2015 article 10.4).
06
Two permanent residents - no fewer than two persons with permanent residence in Panama, for notifications and for the SMV (Texto Único article 51; Acuerdo 2-2011 article 9.5).
07
Commercial premises in Panama - offices in commercial premises and the technical, administrative and financial capacity article 51 demands.
08
Client assets off balance sheet - a casa books client financial assets outside its balance sheet with daily reconciliations per client (Acuerdo 2-2011 article 42); an asesor may hold no custody accounts (Acuerdo 1-2015 article 4).
09
Pre-filing meeting and file - a meeting with the SMV before filing (Acuerdo 9-2013 as amended by 3-2014); forms DRA-1 and DRA-2, the pacto social, source-of-funds evidence and a business plan (Acuerdo 2-2011 articles 8-9); the asesor guide's 18 items with a two-year plan and KYC manual; 30 calendar days to answer observations.
10
Fees - B/.10,000 to register a casa, B/.5,000 an asesor, B/.300 per corredor or ejecutivo principal (article 25); then 0.0025% of traded volume a year between B/.5,000 and B/.100,000, B/.2,500 for an asesor, B/.125 per licensed individual, the asesor and individual fees paid within the 30 calendar days of January (Acuerdo 11-2013 article 6).
01
Exclusive-object company.
02
B/.250,000 or B/.50,000.
03
30% liquid assets - casa.
04
B/.1,000,000 liability policy.
05
Ejecutivo Principal, Corredor, compliance.
06
Two permanent residents.
07
Commercial premises in Panama.
08
Client assets off balance sheet.
09
Pre-filing meeting, DRA forms.
10
Fees, January calendar.
Reflects the Texto Único of Decreto Ley 1 de 1999, Acuerdo 2-2011 as amended by Acuerdo 8-2022, Acuerdo 1-2015 and Acuerdo 5-2004, as of 2026. The Acuerdo 4-2011 capital-adequacy ratios, and any two-director rule beyond the residents above, are confirmed per case.Texto Único DL 1/1999 + Acuerdos 2-2011, 1-2015, 5-2004, as of 2026.
How it works
From first call to the SMV's licence.
01
The licence
Asesor de inversiones, casa de valores or administrador de inversiones - scope and capital line fixed in writing first.Fixed in writing.
02
Company and people
Exclusive-object company with nominative shares; Ejecutivo Principal, Corredor or Analista and compliance officer examined; two permanent residents.Examined, resident.
03
Pre-filing meeting
The SMV meeting required by Acuerdo 9-2013, as amended by 3-2014 - the file shaped to what the reviewer asks for.Acuerdo 9-2013.
04
The file and observations
DRA-1 and DRA-2, pacto social, source of funds, business plan and insurance filed; observations answered within the 30 calendar days of article 8. No statutory decision period.Answered inside 30 days.
05
Licence and launch
Registration fee paid, annual fee calendared, Latinclear and Latinex onboarding, client assets reconciled daily from day one.Fees, Latinclear, Latinex.
Quick facts
RegulatorSMV (Superintendencia del Mercado de Valores)
Casa de valoresB/.250,000 + B/.1,000,000 policy
Asesor de inversionesB/.50,000
Registration feeB/.10,000 casa · B/.5,000 asesor
Annual fee0.0025% of volume · B/.5,000-100,000
Statutory clockNone for casas or asesores
Register (31 Aug 2026)48 casas · 57 asesores · 22 administradores
Population4,064,780 (Censo 2023)
No decision period for a casa or asesor and no processing statistics - the only clock is the applicant's, 30 calendar days to answer observations, so a file that draws few of them is the whole job.
On the ground in Panama
Run from our Panama City office.
Prifinance - Panama
Panama City · Panama
Panama City, Panama
01
Licence and capital
Asesor, casa de valores or administrador - fixed against the B/.50,000 and B/.250,000 lines, the 30% liquidity rule and the B/.1,000,000 policy before incorporation.Fixed before incorporation.
02
People and examinations
Ejecutivo Principal, Corredor or Analista and compliance officer recruited and put through the SMV examinations at B/.100 each; two permanent residents in place.Examined at B/.100 each.
03
The pre-filing meeting and the file
Acuerdo 9-2013 meeting held; DRA-1 and DRA-2, pacto social, source of funds and business plan assembled so observations are few and answered inside 30 days.Few observations.
04
Fees, Latinex and launch
B/.10,000 or B/.5,000 registration paid, annual fees calendared for January, Latinclear custody and Latinex access arranged.Calendared, connected.
We also have offices in
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Vlkova 532/8, Žižkov
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33 Level, Al Saqr Business Tower
London
United Kingdom
7 Bell Yard
Budapest
Hungary
Korányi Sándor u. 4
Istanbul
Turkey
Perpa Ticaret Merkezi, A Blok
Good to know
Taxation of investment firms in Panama.
A territorial 25%, a 4.67% alternative minimum and a dividend tax that halves on foreign-source profits - with the ITBMS position on fees confirmed in the quote.
Corporate tax 25%
25% on net taxable income for legal persons since fiscal 2011, on the DGI's rate table; 30% only where the State holds more than 40% of the company. The 27.5% and 30% rates for regulated financial entities ran from 2010 to 2013 and are gone.Since fiscal 2011.
Territorial by article 694
Only renta de fuente panameña is taxed under Código Fiscal article 694 - income a Panamanian casa or asesor earns from activity abroad sits outside the base, subject to the source rules.Article 694.
CAIR 4.67%
The alternative minimum: 4.67% of gross taxable income for companies with revenue above B/.1,500,000, paid where it exceeds the ordinary computation.Above B/.1,500,000 revenue.
Dividends 10% or 5%
Dividend tax withheld at 10% on Panamanian-source profits and 5% on exempt or foreign-source profits (Decreto Ejecutivo 98/2010 article 106), by the entities licensed to pay them.10% local, 5% foreign-source.
ITBMS 7% - fees confirmed
The 7% ITBMS is the general rate; the treatment of brokerage and advisory fees under the financial-services rules is confirmed with the DGI in the quote.Fees position confirmed.
SMV annual fee
The sector charge: 0.0025% of a casa's annual traded volume between B/.5,000 and B/.100,000, B/.2,500 for an asesor, B/.5,000 for an administrador, B/.125 per licensed individual (Texto Único article 26).0.0025%, B/.5,000-100,000.
Tax summary
Corporate tax25% · territorial
CAIR4.67% alternative minimum
Dividend tax10% local · 5% foreign-source
ITBMS7% · fees position confirmed
Sector levySMV 0.0025% · B/.5,000-100,000
*Figures as of 2026 per the Código Fiscal and the DGI's rate tables. Source rules, CAIR and the ITBMS position on fees are modelled per structure.
Turnkey professional support
Experienced lawyers and international consultants.
We provide end-to-end support, from company registration and the application file to regulatory interaction and compliance oversight - with an individualized approach to each client.
Oleksii Kindratenko
Builds the application itself: Panamanian company, AML/KYC policy pack, capital structure and tax registrations. His document sets are the reason reviews finish in months, not years.
Eugeniu Bevziuc
First point of contact for international founders. Runs the whole setup remotely, across time zones and languages - from the first call to a live, licensed firm.
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Panama · SMV
Launch your investment firm in Panama with expert support.
Full-service assistance - from the exclusive-object company and licensed people to the pre-filing meeting, the SMV file and the annual fee calendar - run through our Panama City office.
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Our legal team will analyze your case at no cost and provide a written legal opinion: which jurisdiction, licence scope, or route fits your business.
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Request a free conclusion →FAQ
The Panamanian investment licence, answered.
What licence does an investment firm need in Panama?+
One of three from the Superintendencia del Mercado de Valores under article 50 of the Texto Único of Decreto Ley 1 de 1999: casa de valores for buying and selling securities for clients or own account, asesor de inversiones for advice and discretionary account management without custody, or administrador de inversiones to manage a sociedad de inversión's portfolio.
What capital is required?+
B/.250,000 for a casa de valores, free of encumbrances at all times (Acuerdo 2-2011 article 5), plus liquid assets of at least 30% of short-term liabilities and a B/.1,000,000 professional-liability policy; B/.50,000 for an asesor (Acuerdo 1-2015 article 5). The administrador's figure in Acuerdo 5-2004 article 40 was not on a readable page. The balboa is at par with the dollar.
How long does licensing take?+
The law sets no period. Articles 50 to 57 of the Texto Único give the SMV no deadline for a casa or asesor; the applicant has 30 calendar days to answer observations (Acuerdo 2-2011 article 8, Acuerdo 1-2015 article 7). Only a sociedad de inversión gets 30 business days from a complete filing (Acuerdo 5-2004 article 23). No processing statistics are published.
What are the fees?+
Texto Único article 25: B/.10,000 to register a casa de valores or an administrador, B/.5,000 an asesor, B/.300 per corredor, analista or ejecutivo principal, B/.100 per examination. Article 26 annually: 0.0025% of a casa's traded volume between B/.5,000 and B/.100,000, B/.2,500 for an asesor, B/.5,000 for an administrador, B/.125 per individual, paid in January.
Can a foreign group own 100%?+
Yes - no foreign-ownership cap appears in the law. A foreign company registers in the Registro Público before applying as an asesor, and any holding that gives control, 25% or more included, needs the SMV's prior authorisation (Acuerdo 2-2011 articles 24-25). Article 57 and Acuerdo 1-2023 let a casa from a recognised jurisdiction rely on home-state rules for some requirements.
What people does the SMV require?+
A casa: at least one Ejecutivo Principal, one Corredor de Valores and one Oficial de Cumplimiento (Acuerdo 2-2011 article 9.4); an asesor: one Ejecutivo Principal, one Analista and one compliance officer (Acuerdo 1-2015 article 10.4). Two persons must be permanently resident in Panama (Texto Único article 51). Licences follow SMV examinations - 200 questions in four hours, then 100 for an ejecutivo principal.
How are Panamanian investment firms taxed?+
25% on Panamanian-source net income under a territorial system (Código Fiscal article 694), a 4.67% CAIR alternative minimum above B/.1,500,000 of revenue, and dividend tax of 10% on local-source profits or 5% on exempt and foreign-source profits (Decreto Ejecutivo 98/2010 article 106). The ITBMS position on brokerage and advisory fees is confirmed in the quote.
Is there an investor compensation scheme?+
None is set out in the Texto Único or the acuerdos; protection runs through the casa's own rules instead: client assets off balance sheet with daily reconciliations per client (Acuerdo 2-2011 article 42), central custody at Latinclear, the B/.1,000,000 liability policy and the ban on custody accounts at an asesor. The Acuerdo 4-2011 solvency ratios are confirmed per case.
Panama or Uruguay for a new firm?+
Uruguay licenses natural persons too, lets an asesor route orders to foreign intermediaries and prices its guarantees in indexed units - UI 250,000 for an asesor, UI 2,000,000 for an intermediary; Panama fixes B/.50,000 and B/.250,000 in dollars, prints its fees and taxes only local-source income, but sets no decision period either. Dollar certainty: Panama City. Natural-person licensing: Montevideo.
Why Prifinance for Panama?+
We fix the licence against the B/.50,000 and B/.250,000 lines, form the exclusive-object company, recruit and examine the Ejecutivo Principal, Corredor or Analista and compliance officer, hold the Acuerdo 9-2013 meeting and file DRA-1 and DRA-2 complete - from our Panama City office with Madeira behind it.
What licence?+
Casa, asesor or administrador.
Capital?+
B/.50,000 or B/.250,000.
How long?+
No statutory period.
Fees?+
B/.5,000 · B/.10,000.
100% foreign?+
Yes, no cap.
People?+
Three licensed, two resident.
Taxes?+
25% territorial.
Compensation?+
None; the casa's own rules.
Or Uruguay?+
Dollars vs indexed units.
Why you?+
Meeting held, file complete.
Client notes
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Prifinance is an independent law and advisory firm. We are not a regulator and are not affiliated with, endorsed by, or acting on behalf of the Superintendencia del Mercado de Valores de Panamá or any other public authority. Authorisations are granted by, and obtained directly from, the competent authorities.