	Beth Anne Gray J., LL.B. (Hons.) & Victoria Tejada LL.B. P.O. Box 832-0816 - World Trade Centre - Panama City - Republic of Panama International Legal Services

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Panama Business Licensing - Fees & Costs

Our legal fees for licensing of businesses in Panama, are based on the Rate of Minimum Professional Fees for Lawyers in the Republic of Panama, as it relates to the Ministry of Commerce.

However, based on our experience in these matters, we have established flat fees for a number of administrative matters and typical steps involved in the licensing process.

Our Fees:

Obtaining Commercial or Industrial Licenses (foreigners are not able to obtain Type "B" licenses which are reserved for Panamanians or corporations wholly owned/operated by Panamanians)	$400.00
Modifications or Changes to Commercial or Industrial Licenses and Cancellations	$250.00
Obtaining Commercial Registration	$300.00
Registration in Industrial Property (Trademark for Factory, Commerce, Services or Trade Name, Use of Publicity Expressions and Others	$500.00
Obtaining Commercial Licenses or Registration for Natural Persons	$250.00
Authorisation to operate Finance Company	$5,000.00
Authorisation to operate Leasing Company	$5,000.00
Cancellations (of Finance or Leasing Company license)	$2,000.00
External advice to Finance Companies (minimum fee)	$750.00
Administrative Processes before the Department of Finance Companies (hourly)	$250.00
Changes and amendments to authorisations	$500.00
Obtain real estate broker license (reserved for Panamanian residents), after successfully passing the exam and putting up the bond required.
a) Legal Person	$750.00
b) Natural Person	$300.00

Out of Pocket Expenses:

These vary according to the respective license. For a straight commercial license (type "A" commercial or Industrial) you can expect that the expenses will include:

Certificate of Good Standing from the Public Registry (expense + handling fee), for the company to be registered	$30.00 + $45.00 fee
Notarisation of Power of Attorney	$20.00
Payment of Registration Fee to MICI	$50.00

For information regarding the actual requirements and procedure for applying for a business license, please see Business Licenses and Starting a Business in Panama.

Clients will be requested to provide Gray & Co. with a $200.00 prepayment to begin the license application.

For questions or comments, please write to the webmaster

Last modified 26-Sep-2007 17:37 -0400