How To Get a Panama VASP?

Registering a VASP in Panama – Key Takeaways

  • Panama has emerged as a popular hub for crypto / virtual asset activities in South America
  • Cryptocurrency / virtual‑asset businesses are not required to obtain SFI licensing
  • Company formation takes approximately 2 – 3 weeks to complete
  • No taxes to be paid on business outside of Panama
  • A minimum of 3 directors are required
  • Ability to operate without a license

Steps to Establish a Crypto VASP in Panama:

  1. Book an initial strategy call with Atomiq Consulting to evaluate your crypto business objectives and confirm eligibility for registration as a Virtual Asset Service Provider (VASP) in Panama.
  2. Once engaged, our consultants will walk you through the framework established under Panama’s Law No. 697, which provides the legal foundation for crypto companies and virtual asset activities.
  3. Incorporate a Panamanian entity, a mandatory step for any exchange, wallet provider, or crypto-related business seeking to operate legally in the jurisdiction.
  4. Appoint directors; currently a total of 3 are required. It is possible to appoint non-local directors.
  5. Submit the VASP application, accompanied by all required corporate and compliance documentation.
  6. Address any feedback or clarification requests from registar.
  7. Upon approval, our team can also assist with a bank account application.

Why Obtain a VASP In Panama?

Panama has emerged as a sought after jurisdiction for Virtual Asset Service Providers (VASPs), offering a simple path to launch combined with a business-friendly tax regime. With Law No. 697 establishing legal clarity for crypto activities, Panama provides security for investors and operators alike. Its strategic geographic location, competitive incorporation costs, and openness to blockchain innovation make Panama a top choice for exchanges, wallet providers, and digital asset firms looking to expand into Latin America and beyond.

Atomiq Consulting – Your Partner for Cryptocurrency & VASP Registrations

To learn more about the application process, ongoing charges, and address any other questions related to a digital asset / cryptocurrency VASP registrations in Panama, don’t hesitate to contact us. In addition, our team can also assist your group with obtaining a crypto / virtual asset license in a variety of global jurisdictions.

Contact Us Today to Learn More About Obtaining a Virtual Currency License in Panama

    Panama VASP Registration FAQ

    Is a license needed to operate a VASP in Panama?

    As of this writing it is possible to launch a VASP in Panama without a license.

    How long does it take to incorporate a Panama VASP?

    It will take approximately 2 weeks to set up a Panama VASP.

    Are there any Panama VASP for sale?

    To determine if we have any Panama VASP on sale, it is best to check with our online marketplace. By visiting our online marketplace you can see the latest crypto exchanges, banks, EMIs and FX brokers we currently have on sale. 

    Is it possible to appoint a non-local director in Panama?

    Yes, in order to meet the requirement of 3 directors, it is acceptable to appoint a director who is not a full time resident of Panama.

    Which jurisdictions are similar to Panama?

    El Salvador is a consideration for those looking to obtain a license for crypto / virtual asset activities. A comparable jurisdiction for a quick and easy company registration would be St. Vincent.

    What is the tax rate for Panama VASPs?

    The tax rate in Panama is 0% for all VASPs which perform business outside the country. 

    Is Atomiq Consulting able to assist with banking services as well?

    Yes, in addition to helping obtain the cryptocurrency / VASP formation in Panama we’ll also help your business obtain payment service options.

    About the Author

    This article was written by Jonathan Baumgart, Founder and CEO of Atomiq Consulting. With over a decade of experience in the forex industry, Jonathan specializes in helping businesses launch brokerages and navigate global licensing requirements.

    Connect with Jonathan on LinkedIn



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