Crypto License in Panama
Total over 500 licenses completed by Consulting24 Team
Cost: 6,000€
Setup time: 21-28 days
​Consulting24 CEO: Mr. Mardo Soo
Why Panama Crypto License?
Panama's evolving financial legislation has made it an appealing destination for fintech and cryptocurrency businesses. The country provides tax incentives and actively supports blockchain technology, attracting numerous cryptocurrency startups. In 2021, a proposed bill aimed to regulate the legal status of cryptocurrencies, significantly boosting the sector.
Panama's strategic geographical location and liberal economic policies create a favorable environment for international investment and business expansion in Latin America. Obtaining a cryptocurrency exchange license in Panama offers swift results and comprehensive solutions for businesses entering the crypto industry. The process requires providing identification for directors and shareholders, proof of address, and completing a due diligence form.
Schedule a meeting for more information about the Panama crypto license
Our Clients
Panama Crypto Taxation
Panama is developing a tax policy for cryptocurrency companies under a territorial tax system, where only income generated domestically is taxed. The main tax rates for cryptocurrency companies are:
Corporate income tax: 25% on income earned in Panama.
VAT: Currently, cryptocurrency transactions are not subject to VAT.
Dividend tax: None for cryptocurrency assets.
Capital gains tax: Not applicable to cryptocurrency assets.
Annual fee: 6000€
Companies must comply with international anti-money laundering (AML) standards, including customer identification and suspicious transaction reporting, to ensure transparency and security in financial transactions. Panama offers a favorable environment for cryptocurrency transactions and investments, but companies must stay informed about tax policy changes and comply with all tax obligations.
Company Crypto License Setup
21-28 days
Remote setup
No visit is required or sending any documents via post, all will be done online.
Taxation
0% corporate and dividends tax and 0 capital requirement;
Requirements for a Crypto License in Panama
To obtain a cryptocurrency exchange license in Panama, companies must adhere to the following requirements:
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Register a legal entity in Panama under the Specialized Financial Institutions (SFI) category.
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Secure a commercial license and ensure registration in the public registry.
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Disclose on the website the company's commercial name, office address, domain names, contact email addresses, terms of use, and privacy policy.
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Notify the regulator of the business purpose and collect legally required customer information.
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Provide business model descriptions, a detailed three-year business plan, and a list of intended services.
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Submit personal data copies, CVs of owners and directors, and criminal records of all relevant persons.
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Minimum 3 directors are needed.
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Present a technical equipment report and a bank statement confirming the necessary operational finances.
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Establish and implement customer due diligence procedures, and report on high-risk transactions.
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Adhere to AML/KYC regulations and create internal policies to monitor and control transactions.
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Complete and submit documentation for registration and licensing.
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Due to the dynamic nature of cryptocurrency regulations in Panama, maintaining regular consultation with legal advisors is essential to stay compliant with legislative changes.
Book a meeting for Panama crypto license info.
Possible Activities
Custodial Service
Staking as Service
Crypto to Crypto
ICO/IDO/IEO
Mint & Trade NFTs
Why Consulting24?
500+ licenses completed by Consulting24 team.
Team
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Mardo Soo
"Our experience consistently highlights that Lithuania's licenses stand unparalleled in the crypto industry. It's the preferred choice for forward-thinking enterprises aiming for growth and compliance."
Lena Elvbakken
"Lithuania's licenses have proven to be the gold standard, especially with a swift setup time of 30-60 days. This efficiency, coupled with robust regulations, makes it the top choice for visionary enterprises.
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Schedule a meeting for the Panama crypto license.