What is the minimum number of directors required for a new Panama company?
Panama requires 3 directors no matter if a corporation is new or previously existing. If a director resigns he/she must be replaced for the Panama corporation to remain in good standing. A director of a Panama company is a publicly listed position, but we provide nominee directors to facilitate the privacy of our clients. Alternatively, a corporation or foundation can occupy the position of director. Also many people do not realize that a director of a Panama corporation or foundation does not need to be a Panamanian resident, in fact, any person in any country of the age of 18+ can occupy this position.
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