Crypto License in Panama

There is no Virtual Asset Services Provider (VASP) regime in Panama, and crypto activities like token issuance, trading, and promotion are completely legal. You can freely operate without the need for financial licenses or regulatory approvals.

Panama ensures privacy for the ultimate beneficial owners (UBOs) of companies. While the names of directors must be listed in public records, shareholders and UBOs remain confidential. We also offer nominee services to further protect your privacy.

Panama applies no taxes on income earned outside the country. This makes it an attractive destination for global businesses looking to optimize their tax strategy.

The government does not impose AML or KYC requirements for crypto businesses, allowing you to operate freely. However, we strongly recommend compliance with the laws of the countries you serve.

Incorporating a company in Panama is straightforward and can be completed in a matter of days. There are no nationality or residency restrictions for directors or shareholders, making Panama an accessible option for international entrepreneurs.

A corporation (S.A.) is the most common structure for crypto companies, requiring at least three directors. These directors can be individuals or legal entities, and we offer directors services if needed.

You’ll need a registered office in Panama, which we can provide as part of our services (this service is the same as company’s legal address).

A local registered agent is required by law, and we can provide this service to your company in Panama.

We will help you draft and file the company’s Articles of Incorporation (or Articles of Association) with the Panamanian authorities.

The corporation must be renewed annually, which includes updating director information and paying renewal fees. We handle all aspects of this process.

These directors are appointed to only represent your company. Control remains with the company owners through a Power of Attorney (PoA). The PoA costs EUR 800, and the annual fee for director is EUR 1200 per year.

These directors sign agreements directly on behalf of the company. The fee for this service is EUR 4000 per year.

If needed, we provide qualified individuals to act as independent directors on your company’s board. Fees are determined based on the specific responsibilities involved.

We handle the yearly renewal process, ensuring your business remains in good standing.

Even though crypto activities are unregulated, we provide ongoing support to ensure compliance with broader corporate regulations.

We assist with the issuance of corporate documents like certificates of incumbency and shareholder agreements.

If for one reason or another you need a director on site, we are ready to offer you several levels of this service.

In the EU, companies must comply with the MiCA framework, which involves stringent reporting and regulatory requirements. In Panama, no such framework exists, offering greater operational freedom.

Like Saint Vincent and the Grenadines, Panama offers a high degree of freedom for crypto activities. However, Panama’s more developed infrastructure and strong privacy laws make it a preferred choice for those seeking higher confidentiality.

While both jurisdictions offer privacy and tax advantages, Panama’s legal environment is simpler and more affordable for starting a crypto business without the need for licenses or heavy compliance.