LEGAL
Grupo J offers assistance in legal procedures and the formation of corporations within the framework established by the Panamanian Constitution. Our firm is characterized by honesty and our values of Professionalism and Seriousness. Some of the services we offer are:COMMERCIAL LICENSING:
Grupo J can help you obtain a commercial license for your business. The information needed to obtain a commercial license is: the purpose of the business, the location of the commercial or industrial establishment, the amount of invested capital, the name of the business, and the address of the applicant.
We can help you obtain the license as well as provide guidance in establishing your business in Panama with the greatest return on your investment. Our commitment is not only to helping your business grow, but also to establish a partnership. In the Republic of Panama you will need one of three types of licenses according to your type of business:
- Type A Commercial Licenses: are those issued to wholesale companies. Type A licenses are required for banks, financial firms, finance intermediaries, insurance companies, international shipping companies, mutual funds, and technology companies.
- Type B Commercial Licenses: are those issued to companies who practice both wholesale and retail commercial transactions. This license is required for agencies, bars, restaurants, pharmacies, real estate companies, gas stations, and local transport companies among others.
- Industrial Licenses: are those issued to companies in engaged in manufacturing or extraction activities, as well as those that sell such products to the State. They are also issued to construction companies that use third-party contract labor as well as to home-based or artisanal companies that employ more than 5 persons.
The Republic of Panama is a country with an efficient service-sector. It has proven to be a trusted environment for business and especially for corporations and offshore companies. The most common are offshore corporations that allow the development of international corporate services. Panama is now one of the largest providers of offshore services worldwide.
Panamanian offshore corporations, due to their versatility and flexibility, are an effective and secure means to administer and safeguard assets. An offshore corporation combined with the quality banking and commercial services found in Panama consistently meet the needs of diverse types of clients.
Panama is known for its offshore services and its international banking center that allow one to open an international or local bank account in a flexible and secure manner. A offshore bank account is an indispensable tool to carry out financial transactions, fiscal planning, and protect assets when used in conjunction with offshore corporations, private interest foundations, or trusts.
At Grupo J we will assist you with the process of opening an offshore bank account in a recognized and prestigious financial institution. We will prepare all the necessary paperwork, obtain or draft the required legal documents, establish corporations that we can administer if necessary, and provide you with guidance throughout the whole process.
These transactions can be carried out while you are abroad, outside the country of Panama. In general banks require information and references regarding your commercial and banking history, and on occasion an interview or personal meeting with bank officials may be necessary. Once the application has been approved by the bank you will be able to make deposits and withdrawals of funds, receive your checkbook, credit card, etc. At that point our role will have ended and will have no relationship with the transactions carried out in your account for reasons of discretion and confidentiality.
We can handle all the procedures necessary related to your immigration status in Panama. We can also advise you which immigration status will allow you to best carry out your business.
There are several visas with which we are able to assist you:
- SMALL BUSINESS INVESTOR VISA
(B/. 40,000 to B/. 150,000 in investments)
Visa for those who would like to establish their residence in Panama as an investor. The investment must be made directly in a business with a minimum investment amount of US$40,000, but no more than US$150,000. - PROVISIONAL PERMANENT VISA FOR LARGE BUSINESS INVESTOR
(minimum B/. 150,001 in investments)
This visa is issued to larger investors who would like to establish residence in Panama. The investment must be made directly in a business with a minimum investment amount of US$ 150,001. - TEMPORARY SPECIAL VISITOR VISA
This visa is issued to foreign executives that work for companies in Panama and meet the following criteria:- The salary of the applicant must come from sources abroad.
- The monthly salary of the applicant must not be less than US$1,000.00
- The applicant must work for enterprises whose operations are carried out and developed outside the territory of the Republic of Panama.
- MINISTRY OF LABOUR VISA (LESS THAN 10% OF ORDINARY PERSONNEL)
This visa allows a company to bring a specially qualified employee from abroad to permanently reside in Panama. This visa requires that the Ministry of Labor issue a corresponding work permit.
Contact us and we'll provide the guidance you need to establish your business in Panama with pleasure.
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