{"id":24110,"date":"2024-06-18T16:13:28","date_gmt":"2024-06-18T14:13:28","guid":{"rendered":"https:\/\/www.pfser.com\/?page_id=24110"},"modified":"2026-07-29T18:05:07","modified_gmt":"2026-07-29T16:05:07","slug":"crypto-licence-in-panama","status":"publish","type":"page","link":"https:\/\/www.pfser.com\/en\/crypto-licence-in-panama\/","title":{"rendered":"Crypto Licence in Panama"},"content":{"rendered":"

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Crypto Licence in Panama<\/h2>\n

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Here is the honest answer most providers will not give you: Panama has no mandatory crypto license. There is no enacted VASP licensing regime \u2014 the 2022 crypto law (Bill 697) was struck down as unconstitutional by the Supreme Court in 2023, and the new framework, Anteproyecto Ley 314 introduced in January 2026, is still a draft. What Panama offers instead is something many crypto businesses genuinely need: a fast, legal, tax-efficient corporate base with a territorial tax system, 0% on foreign-sourced income, no capital gains tax on crypto, and full legality of exchange, custody, OTC and token activities under general commercial and AML law.<\/p>\n

“Crypto license in Panama” is therefore a market term. In practice it means incorporating a Panamanian company, obtaining a general commercial operating notice (Aviso de Operaci\u00f3n), and building an AML and compliance framework that satisfies banks, payment providers and counterparties. Crypto activity itself \u2014 trading, exchange, custody, token issuance, mining, payment processing \u2014 is fully legal and operates under Panama’s general corporate and anti-money-laundering laws.<\/p>\n

This distinction matters. Any provider selling you a “Panama VASP license” with an “official registry entry” is selling packaging, not a regulatory permission, because the regulator that would issue such a license does not yet exist for crypto. What does exist is a well-defined legal environment worth understanding precisely \u2014 and a legislative trajectory you can prepare for now.<\/p>\n

Private Financial Services<\/a><\/span> operates its own office in Panama City. We structure crypto companies on the ground: incorporation, AML and KYC frameworks, banking, and preparation for the licensing regime that is coming. On this page: what a crypto licence in Panama really means in 2026, who this jurisdiction fits, real costs, and how to build a structure that survives the transition to Ley 314.<\/p>\n

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Advantages of Having Crypto Licence in Panama<\/h2>\n

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Territorial Taxation \u2014 0% on Foreign-Sourced Income<\/h3>\n

Corporate income tax of 25% applies only to Panama-sourced income. Revenue from crypto services provided to clients abroad sits outside the Panamanian tax net. There is no capital gains tax on foreign-source crypto appreciation, no VAT on virtual-asset services, no dividend tax on crypto assets, and no withholding tax on most international payments. One caveat we always flag: “foreign-sourced” is a legal test about where the activity is performed and managed, not an automatic label \u2014 the structure has to be built to support it.<\/p>\n

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Speed and Simplicity<\/h3>\n

A Sociedad An\u00f3nima incorporates in about 5\u20137 business days, fully remotely. There is no minimum paid-in capital, no residency requirement for shareholders or directors, and 100% foreign ownership is permitted. Realistic time to full operational readiness, including compliance and banking preparation, is 4\u20136 weeks.<\/p>\n

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Privacy with Compliance<\/h3>\n

Shareholders and ultimate beneficial owners do not appear in public registries; ownership data sits in a private register accessible to the authorities through the resident agent. This is lawful confidentiality, not anonymity \u2014 UBO disclosure to the agent and to banks is mandatory under Law 129\/2020, and reporting under the OECD Crypto-Asset Reporting Framework begins in 2027.<\/p>\n

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A Real Financial Center<\/h3>\n

Panama has a dollarised economy, an established international banking sector and a developed financial services industry capable of supporting technological initiatives and digital assets. Institutional acceptance of crypto is growing: Panama City began accepting crypto for municipal payments in 2025, and the pending Ley 314 includes a regulatory sandbox for innovative projects.<\/p>\n

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Strategic Base for the Americas<\/h3>\n

Positioned between North and South America and the Caribbean, Panama gives quick access to all three and strong connectivity in both directions \u2014 a natural hub for LATAM-facing crypto operations. For an operator this means easier entry into several markets at once, more clients, and simpler interaction with foreign financial institutions and payment systems.<\/p>\n

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Intellectual Property Protection and Support for Innovation<\/h3>\n

Panama’s legal system offers reliable protection of intellectual property rights, which a company with new technology and software solutions needs in order to produce and market its products safely. Technological advancement and entrepreneurship are actively encouraged by the government, which is part of why the local crypto industry remains vibrant despite the absence of a dedicated licensing regime.<\/p>\n

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A Known Regulatory Trajectory<\/h3>\n

Panama is not a jurisdiction with settled crypto rules \u2014 it is a jurisdiction with a visible legislative direction. That is an advantage if you use it: the window of fully unregulated operation is closing on a known path, and companies structured now with real AML policies, transparent UBO files and clean banking will convert smoothly into licensees when Ley 314 or its successor passes. Companies built on “no rules, no compliance” will face a painful retrofit or an exit.<\/p>\n

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Types of Crypto Activity in Panama<\/h2>\n

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Because there is no licensing regime yet, none of the categories below requires a separate permit today \u2014 all three are lawful under general commercial and AML law. They are, however, exactly the categories that Anteproyecto Ley 314 defines as licensable, so they are worth treating as the shape of your future obligations rather than as marketing labels.<\/p>\n

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Cryptocurrency Exchange Activity<\/h3>\n

Businesses that facilitate the buying, selling, swapping and holding of cryptocurrencies \u2014 centralised exchanges and OTC desks. In practice this activity demands operational transparency, robust user data protection and compliance with anti-money-laundering and counter-financing-of-terrorism rules, because banks and counterparties require it even where the regulator does not yet. Under Ley 314 this is the first category expected to trigger mandatory licensing.<\/p>\n

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Cryptocurrency Transaction and Payment Services<\/h3>\n

Companies that manage cryptocurrency transactions for clients: payment processors, transfer and settlement services. The expectation here is a strong security infrastructure protecting both the transaction process and client assets, together with stringent AML and CFT policies. Payment flows are also the area most likely to attract scrutiny from the Superintendency of Banks under the draft framework.<\/p>\n

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Cryptocurrency Wallet and Custody Services<\/h3>\n

Services offering crypto storage and management. A credible operation demonstrates superior security measures for its storage systems along with reliable access-recovery procedures in case of user data loss or theft. This is what maintains user trust and safeguards digital assets \u2014 and it is the documentation set custody providers will need when registration becomes mandatory.<\/p>\n

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The Legal Timeline: How Panama Got Here<\/h2>\n

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\u2022 2015<\/strong> \u2014 Law 23 of 27 April 2015 establishes Panama’s AML\/CFT framework: KYC, transaction monitoring and suspicious activity reporting to the UAF. In force, and it applies to crypto businesses by extension.<\/p>\n

\u2022 2021\u20132022<\/strong> \u2014 Bill 697, the first comprehensive crypto law, is passed by the National Assembly in April 2022 and recognises crypto payments. It is partially vetoed by the President over AML concerns.<\/p>\n

\u2022 July 2023<\/strong> \u2014 the Supreme Court declares Bill 697 unconstitutional. The law is nullified and the regulatory clock resets.<\/p>\n

\u2022 2025<\/strong> \u2014 Bill 247 and Bill 326, new FATF-aligned drafts introducing mandatory VASP registration and licensing, go under discussion. Neither is enacted.<\/p>\n

\u2022 December 2025<\/strong> \u2014 Panama joins the OECD Crypto-Asset Reporting Framework. Data exchange begins in 2027.<\/p>\n

\u2022 13 January 2026<\/strong> \u2014 Anteproyecto Ley 314, a dedicated fintech framework defining VASPs and CASPs, licensing triggers, supervision by the SBP and the UAF, and a regulatory sandbox, goes before the National Assembly. Enactment is pending.<\/p>\n

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Overview of Cryptocurrency Legislation in Panama<\/h2>\n

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Bill 697 was designed to modernise Panama’s legal framework to accommodate the digital economy, cryptocurrencies and blockchain technology. It was passed by the National Assembly, partially vetoed, and finally struck down by the Supreme Court in July 2023 \u2014 so it is history rather than law. Its goals, however, describe accurately what the current draft is trying to achieve, and they remain the best guide to where Panama is heading:<\/p>\n