Panama.

From USD 5,800 all-in for year one — covering government incorporation (USD 250–500), annual franchise tax 'tasa única' (USD 300), registered agent, legal and resident agent, plus ArxSetup professional fee. Year-two annual is approximately USD 4,000–4,500.

2–5 business days once the notarised Articles of Incorporation and KYC are filed at the Public Registry of Panama.

Panama operates territorial taxation — income sourced outside Panama is exempt from Panamanian corporate, income and capital-gains tax. Panama-source income is taxed at 25%.

Panama was removed from the FATF grey list in October 2023 and the EU high-risk-country list in March 2024, so it is no longer formally blacklisted, though some national lists are pending further reform.

Yes — Panama and the UAE signed a DTA effective 2013, allowing reduced withholding-tax rates and treaty-residence benefits for properly structured holdings. This is rare among offshore jurisdictions.

A Panama S.A. requires at least three directors (any nationality, corporate or individual) and one shareholder. Nominee directors are widely used and accepted.

Standard authorised capital is USD 10,000 (commonly 100 shares at USD 100). No actual paid-in capital is required — it is documentary only.

No — Panama's Superintendence of Non-Financial Subjects maintains a private UBO registry accessible only to competent authorities and resident agents, not the general public.

Yes — Panama S.A.s commonly hold Panamanian real estate, yachts and aircraft. UAE assets are typically held indirectly via a UAE SPV beneath the Panama corporation.

A civil-law foundation (Fundación de Interés Privado) used for succession planning and asset protection, similar to a Liechtenstein Stiftung — separate legal personality, no shareholders, founded by charter.

All Panama entities must maintain accounting records at the registered office or with the resident agent and file annual UBO/accounting confirmations. Territorial-only entities do not file Panama income-tax returns if they have no local-source income.

Yes — Panama is a CRS signatory (first exchanges 2018) and has a Model 1 FATCA IGA with the US. Financial institutions report automatically to the DGI.

Bank-account opening in Panama itself has tightened post-2018; most clients bank the Panama S.A. in the UAE, Switzerland, Singapore or via EMIs, given Panama-bank de-risking of non-residents.

Panama's Friendly Nations Visa grants residence to nationals of around 50 qualifying countries (including UAE expats holding qualifying passports) who form a Panama company or buy real estate above USD 200,000.

Bearer shares are technically permitted but must be immobilised with an authorised custodian. In practice, almost all new Panama S.A.s use registered shares.

Yes — Panama S.A.s are accepted as shareholders by DMCC, ADGM, DIFC, IFZA, Meydan and RAKEZ, subject to UBO disclosure and apostilled corporate-documents production.

Panama does not impose OECD-style economic substance on offshore corporations, but tax residency is determined by place of effective management. UAE-managed Panama entities should obtain a UAE TRC.