Panama Insurance License

Panama’s Ministry of Commerce & Industry through its Superintendant of Insurance regulates and licenses Panama Insurance companies under Law 59 of 1996.

Key Features           

  • Power of Attorney and a License Application presented by the authorized agent for the Panama insurance company.
  • A copy of the Partnership Agreement (or Articles of Incorporation if a corporation) which must contain the name, objectives, directors, officers, legal representatives, domicile, authorized capital, issuance of nominative shares, resident agent, subscribers, and a description of the activities to be engaged in by the requesting company. In the event this is a foreign company, the document authorizing the establishment of the branch in the Republic of Panama must be certified by a diplomatic or consular officer of the original country in Panama. If said documents are issued in a language other than Spanish, they must be submitted duly translated into Spanish by a certified public translator.
  • A certification from company stockholders or partners, signed by its Secretary or Treasurer; if the stockholders or partners are natural persons, owners of the stock or social quotas. In the event of new companies, the certification must be signed by the license applicant.
  • The composition of the Board of Directors, with their respective curriculums and letters of reference.
  • In case of a foreign company branch, a certificate from the corresponding controlling authority of the native country proving that the head office is duly established in said country and that in compliance with its laws it has been operating there with full solvency during a minimum of five years. Additionally, it must submit a certification that it has been duly authorized to operate a branch in the Republic of Panama, in the same fields operating in the native country.
  • Submit policy and insurance plans, actuarial technical notes sustaining the tariffs of every insurance branch to be operated, life insurance guaranteed securities, and description of the procedures for calculation of the mathematical reserve, and any other element related to the products to be sold by the company.
  • Identify the reinsurance program with which the company initiates operations.
  • Submit a feasibility study which includes a market analysis and projects the objectives of the applicant company in the short, medium and long term.
  • Submit a certified check in the amount of two thousand Balboas (B/.2,000.00) to cover the investigation expenses of the petitioner.
  • Submit any other requisite established by the Law, the regulations, or the Superintendent of Insurance.

Legal Requirements




  • Corporate  vehicle permitted

Panama Company, Limited Partnership

  • Local physical office required


Share capital or equivalent

·         Minimum paid up capital

USD 2,000,000


  • Minimum number


  • Corporate directorship allowed


  • Local director required



  • Minimum number


  • Corporate shareholders allowed


  • Local  shareholders required


Service Providers Required

  • Company Secretary


 Tax Treatment

Non-resident income is tax exempt.

Duration to Set Up

3 months

Distinctive Benefits of Licence

  • Robust yet flexible regulatory environment
  • Professional infrastructure and quality of workplace
  • Tax neutrality and Tax Exchange Agreements

The Valsen Advantage

  • End to end comprehensive service
  • Speedy and efficient service
  • Expert advice on structuring options
  • Dedicated ongoing compliance support
  • Extensive network pool of service providers


+248 252 5217

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