Do financial statements have to be submitted to the Panama government?
Both corporations and natural persons may act as directors and the minimum number of directors is three. They may be of any nationality and need not be residents of Panama. Panamanian companies are also required to appoint a minimum of three officers (president, secretary and treasurer) who may also be the directors. Meetings of directors, officers, and shareholders may be held in any country and accounting books may be kept in outside Panama.
