Limited Partnership (Sociedad en Comandita Simple) in Panama — Import / Export & Trading Formation Guide
Choose a jurisdiction with strong logistics infrastructure, favorable customs agreements, and access to major trade blocs (like the EU or US). Consider VAT deferral schemes and free trade zones.
Last verified: June 13, 2026
Corporate Tax
25.0%
State Tax
0.0%
Formation Cost
$350
Annual Fee
$300
Forming a Limited Partnership (Sociedad en Comandita Simple) in Panama as a Import / Export & Trading means a total tax burden of 25.0% and an official formation cost of $350. There is no minimum capital requirement. Standard formation takes 3-5 business days, or 1-2 business days expedited. No local director is required; the process can be managed remotely. This guide covers the steps, tax breakdown, banking options, and compliance requirements — all from verified data.
First-year total cost
≈ $1,390
Ongoing (per year)
≈ $650
Why Limited Partnership (Sociedad en Comandita Simple) for Import / Export & Trading?
A business model focused on sourcing goods from one country and selling them in another. Success relies heavily on supply chain efficiency, customs compliance, and navigating international trade tariffs.
Ideal for
- Physical product brands
- Wholesalers and distributors
- Dropshippers scaling to bulk inventory
- Cross-border B2B traders
Challenges to watch
- Complex customs and import duties
- High shipping and logistics costs
- Cash flow management due to inventory delays
- Regulatory compliance across multiple jurisdictions
Key decision criteria
- Proximity to major ports or logistics hubs
- Availability of Free Trade Zones (FTZs)
- VAT and sales tax registration requirements (e.g., EORI in the EU)
- Double taxation treaties between sourcing and selling countries
Limited Partnership (Sociedad en Comandita Simple) formation requirements
Minimum capital
None
Standard timeline
3-5 business days
Expedited timeline
1-2 business days
Local director
Not required
Registered office
Virtual office allowed
Notarization
Required
A local director is not required, but the partnership must appoint a Resident Agent (a Panamanian lawyer or law firm).
Estimated breakdown (based on avg. $1,000,000 revenue)
Simulate with your own revenue →
VAT / Sales Tax
Standard rate 7%. Registration threshold: 36,000 USD. Foreign providers of digital services are generally required to register and collect the 7% ITBMS if their services are consumed in Panama. Non-resident businesses without a permanent establishment may face reverse-charge mechanisms for B2B sales.
Banking & payments for Import / Export & Trading
Opening a local corporate bank account in Panama as a non-resident can be rigorous, typically requiring extensive KYC, proof of economic ties, and an in-person visit. However, using international fintechs or specialized offshore banks can streamline the process for remote founders.
Supported payment gateways
Remote-friendly accounts
Payoneer
A global fintech platform that supports Panamanian entities for receiving international B2B payments.
MultiPass
A UK-based EMI that provides multi-currency accounts for offshore entities, including Panama.
Panama incentives & advantages
Territorial Tax System
0% corporate and personal income tax on all foreign-sourced revenue.
Special Economic Zones (e.g., Panama Pacifico)
Exemptions from corporate income tax, import duties, and dividend taxes, plus expedited visa processing for foreign workers.
Limited Partnership (Sociedad en Comandita Simple) formation steps
Choose and verify the availability of the partnership name at the Public Registry of Panama.
Draft the Partnership Agreement (Pacto Social) detailing the general and limited partners, capital contributions, and management rules.
Notarize the Partnership Agreement before a Panamanian Notary Public to create a Public Deed (Escritura Pública).
Register the Public Deed at the Mercantile Section of the Public Registry of Panama.
Pay the initial Annual Franchise Tax (Tasa Única) of $300 to activate the entity.
Obtain a Tax Identification Number (RUC) from the Directorate General of Revenue (DGI).
Apply for a Notice of Operation (Aviso de Operación) through the PanamaEmprende portal if conducting commercial activities locally.
Import / Export & Trading FAQ
Do I need a company in the country I am importing to?
Not always. You can often act as a Non-Resident Importer (NRI), but having a local entity can simplify customs, VAT registration, and local banking.
What is an EORI number and do I need one?
An Economic Operators Registration and Identification (EORI) number is required for businesses importing or exporting goods into or out of the European Union.
Should I incorporate in a Free Trade Zone (FTZ)?
FTZs offer tax exemptions and simplified customs procedures, making them ideal if you plan to re-export goods without them entering the local domestic market.
Ready to form your Limited Partnership (Sociedad en Comandita Simple)?
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Related guides
Complete Limited Partnership (Sociedad en Comandita Simple) guide
Taxes, requirements, banking, compliance
Limited Partnership (Sociedad en Comandita Simple) cost calculator
One-time and annual cost breakdown
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