Panama IBC Law 32 From 1927, Article Two Paragraph Nine

If you want to form an international business company (IBC), then you will need at least three directors listed in your articles of incorporation. According to Law 32 from 1927 Article Two Paragraph Nine, the articles of incorporation must also specify the names of the directors.

Section V of the Law 32 gives more detail about who can serve as a director. According to this section, anyone of legal age can serve. The directors can live anywhere, including countries other than Panama. The directors don't even need to own shares of the IBC.

This gives companies great flexibility when organizing themselves, choosing leaders, and writing bylaws. Since directors have complete control over the IBC's transactions, organizations can appoint individuals who share goals and perspectives. A business owner in the United States could partner with entrepreneurs in Europe, Asia, South America, or any other location. This opens the door for practically any organization to incorporate in Panama.

Panama IBC Law 32 from 1927

Law 32 from 1927 plays a crucial role in protecting Panama's international business companies. It lays a foundation that gives IBCs the opportunity to pursue their interests without much government oversight.

To take advantage of Panama's relaxed IBC laws, though, one must follow instructions perfectly. If you don't have three or more directors, then Panama will not let you form an IBC.

Delvalle Attorneys at Law can help you understand Law 32 from 1927 so that you stay within Panama's IBC laws. Our attorneys specialize in offshore services. That makes them experts who can interpret the law, make sure you get all of the rights awarded to you by the law, and even help you follow the law's specifics so that your business continues to reap the rewards of incorporating in Panama.