Start your crypto venture in Panama
We are excited to announce the launch of crypto company registration in Panama. If you’re considering setting up your crypto business, Panama offers an unparalleled environment with a host of benefits that make it an ideal jurisdiction. TEST
Why Choose Panama for Your Crypto Project?
- 0% corporate and dividends tax.
- Director information is public, while shareholder and UBO details remain confidential.
- No visit is required or sending any documents via post, all will be done online.
- Ease of Setup.
- No capital requirements and simplified accounting.
- Suitable for a wide range of activities, from crypto exchanges to NFT trading.
Alternative to the MiCA
With the MiCA regulation set to take effect in December 2024, the cryptocurrency landscape in the EU will undergo significant changes. Setting up your business in Panama allows you to operate with greater flexibility and fewer regulatory constraints compared to the upcoming European framework.
The Panamanian legislation of cryptocurrencies
The Panamanian draft legislation of April 28, 2022, which has already been approved by The National Assembly, will have to regulate Bitcoin and 8 other cryptocurrencies, as well as their commercialization.
Panama, known as a hub for offshore financial services, could become a new crypto hub for doing business in the crypto-asset sector. This direction is gradually attracting more and more companies to register their businesses in this jurisdiction for the development of cryptocurrency transactions.
But it should be noted that the draft legislation on cryptography does not provide for the status of cryptocurrencies as legal tender, but at the same time allows mutual settlements with digital assets.
What transactions does the Panama Bill include?
- issuance of digital securities;
- creation of payment systems;
- use and trading of cryptocurrencies;
- tokenization of precious metals (transformation of ownership rights to an asset into a digital format), etc.
Thus, it becomes possible for commercial organizations and individuals to make payments with above cryptocurrencies without restrictions, including payment of taxes.
The following cryptocurrencies, you can use without restrictions in Panama:
Bitcoin (BTC); XDC Network (XDC); Algorand (ALGO); Litecoin (LTC); Elrond (EGLD); Ethereum (EHT); IOTA (MIOTA); Starbase (STAR); Ripple (XRP)
The President of Panama has directed that the law be finalized and comply with the country’s financial rules.
Presumably in the fall of 2024, the above law on cryptocurrencies will be signed by the President Laurentino Cartiso.
Many businessmen from all over the world register offshore companies in Panama. This solution allows you to protect your assets from possible risks and minimize taxation. Panama is one of the best jurisdictions for doing business and investing. It offers comfortable living and working conditions and provides a high degree of asset protection.
If you are interested in a cryptocurrency business and are interested in obtaining a license in Panama, you can already begin registering a company in this jurisdiction, and once the cryptocurrency regulation law comes into force, begin the licensing process. We can provide you with this turnkey service.
Our Package Includes:
- Company incorporation
- Registered Office/ Registered agent
- Set of Company documents with translation and apostil
- Company seal
Documents required for a company registration:
- Passport copies;
- Address, phone numbers, e-mails;
- Proof of address (last 3 months’ bank account statements);
Time frame: 1-2 weeks
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If you wish to register a company in Panama our team will be happy to help you there and provide you with more detailed information, you can contact us at [email protected]
Related page: Panama Company Formation
