Panama (Corporation) vs United Kingdom (LTD)
Comparison of Panama (Corporation) vs United Kingdom (LTD). 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 | Corporation (Sociedad Anónima) | Private Limited Company (LTD) |
|---|---|---|
| Entity type | Corporation | LTD |
| Corporate + state/local tax | 25.0% | 25.0% |
| Formation cost | $300 | $134 |
| Annual maintenance | $300 | $67 |
| Formation timeline | 5-7 business days | 1-2 business days |
| Minimum capital | 0 USD | 1 GBP |
| Local director | Not required | Not required |
| Business banking | 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) | Opening a traditional high-street bank account (like HSBC or Barclays) is extremely difficult for non-resident founders, as they usually require a UK resident director and an in-person meeting. However, the process is much smoother with digital fintech platforms like Wise, Revolut Business, or Payoneer. These remote-friendly alternatives allow non-residents to open multi-currency accounts entirely online within a few days. · 3 remote-friendly bank(s) |
| Visa / residency | 2 options (Qualified Investor Visa (Golden Visa), etc.) | 3 options (Innovator Founder Visa, etc.) |
| Ease of business rank | #86 | #8 |
Highlighted cells indicate a lower tax, cost, or better rank where applicable.
Frequently asked questions
Which is cheaper to form: Panama (Corporation) or United Kingdom (LTD)?
United Kingdom (LTD) has lower formation costs. Compare annual fees in the table above.
Which has lower corporate tax?
Headline rates are close (25.0% vs 25.0%). Use our simulator to model your scenario.
Which is easier for remote business banking?
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). United Kingdom (LTD): Opening a traditional high-street bank account (like HSBC or Barclays) is extremely difficult for non-resident founders, as they usually require a UK resident director and an in-person meeting. However, the process is much smoother with digital fintech platforms like Wise, Revolut Business, or Payoneer. These remote-friendly alternatives allow non-residents to open multi-currency accounts entirely online within a few days. · 3 remote-friendly bank(s).
How do I choose between Panama and United Kingdom?
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.