| Panama | Belize | |
|---|---|---|
| Entity | Corporation (S.A.) | International Business Company (IBC) |
| Corporate tax | 0% on foreign income (territorial) | 0% on foreign income |
| Public register | Directors public; shareholders private | None for shareholders |
| Formation (all-in) | $1,870 | $1,370 |
| Formation only | $1,620 | $1,120 |
| Annual renewal | $1,240 | $1,120 |
| Timeline | 5–8 business days | 1–2 business days |
| Name endings | S.A., Corp, Corporation, Inc… | Limited, Ltd, Corp, Corporation… |
Choose Panama if…
- The Americas' classic territorial-tax jurisdiction, favoured for holding and trading
Choose Belize if…
- Cost matters — $1,370 all-in against $1,870, and renewal of $1,120 against $1,240
- Speed matters — registered in 1–2 business days
- The swiftest formation we offer — registered in as little as one business day
The same either way
Whichever you choose, the engagement runs identically: the fee is published before you speak to us, identity verification happens once through a secure link, formation is carried out by a provider licensed and regulated in the jurisdiction, and one dedicated agent manages everything — including next year's renewal.
Frequently asked
Which is cheaper: Panama or Belize?
Belize — $1,370 all-in with first-year registered agent and office, against $1,870 for Panama. Renewals are $1,240 and $1,120 respectively.
Which is faster to incorporate?
Belize, typically 1–2 business days from completed identity verification, against 5–8 business days for Panama.
Can Windrose form a company in either?
Yes. Both are on our published fee schedule and follow the same process: order online, verify once, and one dedicated agent manages the engagement end to end with the licensed local provider.