Georgia (LLC) vs Panama (Corporation)
Comparison of Georgia (LLC) vs Panama (Corporation). Each country offers multiple entity types — this page compares the primary types side by side. Tax, formation cost, banking, and visa data from our verified database. See country pages for all entity options.
Side-by-side comparison
| Metric | Limited Liability Company (LLC) | Corporation (Sociedad Anónima) |
|---|---|---|
| Entity type | LLC | Corporation |
| Corporate + state/local tax | 15.0% | 25.0% |
| Formation cost | $37 | $300 |
| Annual maintenance | $0 | $300 |
| Formation timeline | 1-2 business days | 5-7 business days |
| Minimum capital | 0 USD | 0 USD |
| Local director | Not required | Not required |
| Business banking | Opening a corporate bank account in person is extremely fast, often taking just 1-2 days at major banks like TBC or Bank of Georgia. Remote opening via Power of Attorney is possible but faces stricter KYC/AML compliance checks and may take several weeks. · 2 remote-friendly bank(s) | Opening a corporate bank account in Panama is notoriously slow and requires extensive KYC/AML documentation. Non-resident founders must usually visit in person for a brief interview, though some banks allow remote opening through a local lawyer. · 1 remote-friendly bank(s) |
| Visa / residency | 3 options (1-Year Visa-Free Regime, etc.) | 2 options (Qualified Investor Visa (Golden Visa), etc.) |
| Ease of business rank | #7 | #86 |
Highlighted cells indicate a lower tax, cost, or better rank where applicable.
Frequently asked questions
Which is cheaper to form: Georgia (LLC) or Panama (Corporation)?
Georgia (LLC) has lower formation costs. Compare annual fees in the table above.
Which has lower corporate tax?
Georgia (LLC) has a lower combined rate (15.0% vs 25.0%). See each entity guide for details.
Which is easier for remote business banking?
Georgia (LLC): Opening a corporate bank account in person is extremely fast, often taking just 1-2 days at major banks like TBC or Bank of Georgia. Remote opening via Power of Attorney is possible but faces stricter KYC/AML compliance checks and may take several weeks. · 2 remote-friendly bank(s). Panama (Corporation): Opening a corporate bank account in Panama is notoriously slow and requires extensive KYC/AML documentation. Non-resident founders must usually visit in person for a brief interview, though some banks allow remote opening through a local lawyer. · 1 remote-friendly bank(s).
How do I choose between Georgia and Panama?
Start by picking the right entity type (LTD, LLC, sole trader, etc.) — each country page lists all options. Use our formation advisor and tax simulator for personalized guidance.