Inno Consultancy Limited

Introduction

Panama is a democratic republic. Panama became a member of the United Nations on November 13, 1945, as a founding member, and once broke relations with the United States due to the sovereignty of Panama Canal. In 1994, it joined in Central American Conference and resumed its membership of the Rio Group.

In 1997, after the re-unification of Hong Kong with China, Consulate General of Panama in Hong Kong was changed to a business office. Panama and mainland China agreed to set business offices in Panama, Beijing and Hong Kong.

Benefits

Secure the privacy of personal details of the director and the shareholder with greatest confidentiality.
Convenience on transfer of Shares (No stamp duty / restriction).
Able to open a bank account in Hong Kong.
Do not require to submit Annual Return.
Not required to submit the company accounts annually.
Tax exemption for offshore company.

Key Corporate Features

General Information
Political Stability	Good
Type of Company	Non resident / IBC
Legal System	Civil Law
Corporate Requirement
Minimum Number of Shareholders	1
Minimum Number of Directors	1
Registered Address	Yes
Minimum Number of President	1
Minimum Number of Treasurer	1
Company Secretary	Yes

Setup Requirement

Company Name Requirement: English Name (Additional charge for Chinese Name)
3 Directors
1 Shareholder (No restriction on the nationality; Shareholder can also be appointed as Director)
1 President
1 Treasurer
1 Company Secretary
Standard Authorized Capital is USD10,000
Increase of Share Capital, additional stamp duty is required

Setup Procedure
Ready-made list for Ready-made Company		Tailor-made Company (3 intended names in order of preference)

Provide Due Diligence documents of the shareholders, the directors, president, treasurer and company secretary which include Passport or I.D Card, utility bill within 3 months and registered proportion of shares

Arrange all shareholders and directors to sign the documents

To set up a Ready-made company within 10 working days		To set up a Ready-made company within 15 working days

Company incorporation completed with a document box which includes Certificate of Incorporation, M&A and Share Certificates, etc.

Company Maintenance

Renewal fee should be paid annually to ensure the legal status of the company
Annual renewal fees are payable every year in January starting the year following the company incorporation and every January thereafter if the company was incorporated in the first half of the previous year. If incorporation was in the second half of year, the annual renewal fee is payable on 1st July of the following year and every July thereafter
If issued Capital is increased, additional annual license fee is required

Service Fee

Incorporation Fee	HKD
Incorporation documents
Provision of Registered Agent for a year
Obtaining a Certificate of Incumbency from the registered agent for opening bank accounts
Box set
Disbursements - Local transport, courier and miscellaneous	HKD500
Arrange and provide a set of certified corporate documents for opening a Bank Account	HKD2,000
Obtaining a Certificate of Good Standing from the registered agent for opening bank accounts
Renewal Fee	HKD

Contact Us

Address Unit 503, 5/F, Beverley Commercial Centre, 87-105 Chatham Road South, Tsim Sha Tsui, Kowloon, Hong Kong
Tel (852) 2375 3733
Fax (852) 2375 2292
E-mail info@inchk.com

Company Formation

Panama