A company should have a minimum of one shareholder and the names of the subscribing shareholders will appear on public record. These can, however, be nominees and any subsequent transfer of shares does not involve official registration. Bearer shares are permitted.

The directors of a Panamanian Company must appoint a President, Secretary and Treasurer. Whilst these offices may be held by one person, who is neither a director or a shareholder, the directors may equally appoint themselves. Details of the Directors must be registered on the public file.

A company can be incorporated within forty-eight hours.
Restrictions on Name and Activity Companies can be formed for all lawful objects and the name should terminate in the words Sociedad Anonima (or SA) or in a word in any other language which denotes that it is of limited liability ("Corporation", "Corp", "Incorporated", "Inc", "AG" etc but not "Limited"). Words such as bank, insurance, re-insurance or trust cannot be used in any language.

There is no requirement under Panamanian Law for a registered office to be maintained in Panama, but the company must maintain a Resident Agent who must be a Panamanian lawyer or a firm of Panamanian lawyers. The minute book of the company and stock register, which is required under Panamanian law, can be maintained in any part of the world.
Provided no business is carried on within Panama there is no requirement to file returns with the Panamanian authorities nor to lodge any financial or other information unless the company is being wound up.