Executive Decree 93 of August 20, 2021, regulates venture companies in Panama.
Some key aspects to take into account in this decree are:
- The implementation of a physical space of the Micro Small and Medium Enterprise Authority (AMPYME) known as Ventanilla Única de Emprendimiento (One-Stop Venture Window) whose function will be to receive the standard statute forms and other documents necessary for the incorporation of venture companies.
- A digital portal will also be implemented to receive the documents in digital format.
- The form submitted at the Ventanilla must be converted into a public deed including an affidavit stating that none of the subscribers is part of another venture company.
- Those interested in creating a corporation may reserve the name of the corporation for a period of 30 days by paying $50 to the Public Registry. At the end of the name of the corporation, the acronym S.E.P. must be added as a distinguishing mark from other types of corporations.
- Once the company is registered in the Public Registry, its information must be provided to the General Revenue Directorate (DGI) to register as a taxpayer and to manage the notice of operations through the PanamaEmprende platform.
Dissolution of Entrepreneurship Companies
These are some of the reasons for which the Ventanilla Única may dissolve or liquidate a company:
- If it does not start operations within 6 months of its registration in the Public Registry.
- If the company reduces its assets to less than half of the capital set in its standard bylaws.
- If the company does not send its financial statements for two consecutive fiscal periods to the Single Window or when it does not issue digital invoices within 3 months.
- If the financial statements and income tax returns are not sent to the Registry of Micro, Small, and Medium Enterprises Authority (AMPYME) at the end of each fiscal period.
Learn more details about this decree here: