Panama Financial Services Companies


This week’s article continues the examination of venues where one could consider establishing a Brokerage Business Offshore.


Anyone looking to set up a Forex Brokerage Business should consider establishing a Panama Financial Services Company and then apply for a Financial Services License.


Such a license empowers a Panama Company to carry out any of these activities:


•             Asset Management

•             Account Management

•             Currency Trading/FX

•             Payment processing

•             Factoring

•             Leasing

•             Forex Brokerage

•             Precious metals trading

•             Other associated activities


The benefits of a Panama Financial Services License are:


•             Low cost to setup and fast, 15 days for the corporation, 30 days for the license and bank account setup in 15 business days

•             No requirement to maintain an office or staff in Panama


Fine Print


Applicants must have a paid-in capital of US$150,000, as well as:

1. Be exclusively dedicated to activities related to the broker-dealer house business.


2. Articles of Incorporation which have a corporate purpose adequate to the activities related to the broker-dealer house business and social capital of at least US$150,000 in registered shares.


3. A Board of Directors or its equivalent composed by at least three individuals (no corporate directors), all of them individuals of “proven business and professional integrity. At least one third of the members of the Board of Directors shall also possess knowledge and experience in subjects related to the stock markets or the financial sector in general. It shall be understood that individuals with a record of respect for the commercial laws and other laws regulating the economic and business activities, as well as good business and financial practices, possess commercial and professional honorability. In any case, it shall be understood that individuals lack such honorability, when the individual is under one of the causes of incompetence to hold offices, pursuant this Agreement. Only individuals who have performed duties as principal executives or other similar responsibilities in other public and private entities for a period of at least 2 years, are deemed to have appropriate knowledge and experience.


4. Have the number of principal executives that the broker-dealer house business volume requires, who must have the corresponding licenses issued by the Commission. Every broker-dealer house must at least appoint one person as Principal executive.


Our fees for assisting to apply this type of license application would be in the vicinity of US$7,500 to $US10,000. Registration fees for a brokerage house are US$5,000. On a yearly basis a supervision fee must be paid to the Superintendent equivalent to 0.0025% of yearly trades (min $5,000.00 max. $100,000.00).


If you’ve any questions about the Panama Financial Services Company please contact us.


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