Register a Panama Company for Virtual Currency Exchange Services

Register a Panama Company for Virtual Currency Exchange Services

Zitadelle AG can assist you in registering a Panama company with a business nature that includes virtual exchange services or other operations related to virtual currencies. Panama is an attractive jurisdiction for entrepreneurs and fintech businesses because virtual asset service providers (VASPs) are not currently regulated or licensed in Panama. This means you can set up and operate a virtual exchange business through a simple company formation, without the need to apply for any additional authorizations or licenses.

With our expertise, you can incorporate quickly, draft statutory documents that include cryptocurrency-related activities, and receive professional guidance throughout the process.

Why choose Panama for your virtual currency business?

Panama offers several advantages for international entrepreneurs looking to enter the virtual assets space:

No VASP licensing requirement — Virtual currency exchange and related services are currently unregulated, making company registration straightforward.
Fast and cost-effective incorporation — Companies can be incorporated in a matter of days, with low annual maintenance fees.
Favorable tax regime — Panama applies a territorial tax system, meaning income earned outside of Panama is tax-free.
Privacy and confidentiality — Directors and shareholders enjoy privacy under Panamanian law.
Flexibility of business activities — You can include virtual asset exchange and other fintech activities in the company’s Memorandum & Articles of Association.

When forming your company, note that Panama law requires:

A minimum of three directors (who can all be foreigners; residency in Panama is not required, appointed nominee directors are available).
Maintaining accounting records and specifying their location (no audited financial statements required if operations are outside Panama).

Frequently Asked Questions

1. Does a Panamanian company require three resident directors?

A Panamanian company is required by law to have a minimum of three directors, however they do not have to be residents of Panama. Foreign individuals can also serve as directors.

2. Are the corporate documents issued in Spanish or English?

The official corporate documents are issued in Spanish, but we provide free English translations of the incorporation documents for all English-speaking clients.

3. Can the company’s statutory documents include activities related to virtual currencies?

Yes, it is possible to include activities such as "operations with virtual currencies" in the company’s business nature, as stated in the Memorandum & Articles of Association (M&A) or other statutory documents.

4. Can you provide a legal opinion confirming that operations with virtual currencies are allowed?

Yes, we can provide a legal opinion (for an additional fee) confirming that operations with virtual currencies are permitted for the company, upon request.

5. Do Panamanian companies have a 0% corporate tax rate and no audited financial statements requirement?

That is correct. Panamanian companies are subject to 0% income tax on business activities conducted outside of Panama. If your company does not operate within Panamanian territory, the 0% income tax applies. There is, however, an annual corporate tax of US$300.00, which is already included in our proposal. Audited financial statements are not required, though you must indicate where the company’s accounting records are kept.

Get started with Zitadelle AG

If you’re looking to establish a virtual exchange business in Panama, Zitadelle AG is here to help you every step of the way — from company registration to drafting virtual currency-friendly corporate documents and providing legal opinions if required.