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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.
NOTICE:
As of July 1, 2010 our sales tax (ITBMS) has increased to 7% and applies to all
services offered by law firms, and will be charged accordingly to clients.
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 online "Aviso de Operación" - client to pay out of pocket
expenses (foreigners
are not able to obtain Type "B" licenses which are reserved for Panamanians
or corporations wholly owned/operated by Panamanians) |
$200.00 |
| Modifications or Changes to Commercial or Industrial Licenses and
Cancellations |
$200.00 |
| 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 |
$200.00 |
| 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.
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