Limited Liability Companies
Our legislation also offers the possibility of creating Limited Liability Companies in Panama. This possibility exists after the National Assembly approved Law 24 of February 1, 1966, which regulated Limited Liability Companies, which was repealed by Law 4 of January 9, 2009, which is currently in force. .
For this, our legislation allows that two (2) or more people, be they natural or legal, can constitute Limited Liability Companies in Panama and be their administrators.
Benefits of Incorporating Limited Liability Companies in Panama
- Limited Liability Companies in Panama can engage in any legal, civil or commercial activity.
- The social capital will be made up of the contributions of the partners in money, species or services and will be represented in the Articles of Incorporation as shares or quotas. The value of the contributions in kind or services will be set by the partners.
- The partners of the Limited Liability Companies in Panama will participate in both profits and losses, in proportion to their participation in the capital stock.
Panamanian Legislation on Limited Liability Companies, Law 4 of January 9, 2009
Law 4 of January 9, 2009 states in its article 25:
“The economic responsibility of each partner for the obligations contracted by the company will be limited to the amount of their participation made or promised”
Services offered by the Firm on Limited Liability Companies in Panama
Our Firm specializes in carrying out the entire incorporation process of Limited Liability Companies quickly and efficiently, as well as preparing any document that is required by our clients, including a private agreement between partners.
We also make the payment of the First Single Rate at the time of setting up the Limited Liability Companies.