Formation and Licensing of the Company
To be licensed in the Republic of Panama an online casino should be registered as an enterprise. Aotopay will assist you in dealing with all formalities and procedures. We provide registry services, services associated with obtaining a license and searching for official representatives.
To successfully start a business, its founders have to:
- allow exploring personal details by the authorities (biography, source of funds) and cover the associated expenses;
- possess a recommendation letter from a bank containing information on accounts;
- submit an application for the company introducing to the State Register.
An application must be accompanied by information on the company location, types of gambling business, and names of persons directly or indirectly involved in work (personnel, owners, legal representatives). Information on financial structure, financial and tax reporting must be also provided. There are no requirements for the residence of founders and shareholders; information about them or beneficiaries should not be disclosed.
