Nikita Veremeev
15.08.2025 | 6 min read
Updated: 15.08.2025
In 2025, as the European crypto market undergoes a period of stringent regulatory transformation under MiCA’s pressure, Panama remains one of the few offshore jurisdictions for crypto where entrepreneurs can launch projects with minimal bureaucratic hurdles. According to the latest research, over 60% of new crypto companies targeting international markets choose jurisdictions with flexible regulatory frameworks, and Panama consistently ranks among the top 5 destinations.
Why does this happen? Firstly, Panama’s cryptocurrency legislation does not mandate licensing for most activities involving virtual assets unless the company works directly with Panama residents. This allows businesses to launch without MiCA and without needing expensive and complex licenses like in the EU. Secondly, Company Registration offshore is entirely possible remotely, which is particularly relevant for international teams and digital nomads.
Practice by COREDO confirms: for clients focused on rapid scaling and cross-border payments, Panama becomes a real alternative to MiCA. For example, in 2024, the COREDO team completed a project to register a crypto company in Panama for a group of European investors who needed a flexible corporate structure and the ability to legalize income beyond the strict EU boundaries. This approach enabled the client to launch a business within 3 weeks, integrate KYC procedures, and establish an anti-money laundering (AML) policy based on international FATF standards.
# Cryptocurrency License and Licensing Features in Panama
Unlike the EU, where a crypto license for CASP (Crypto Asset Service Provider) has become a mandatory requirement, Panama offers no-license solutions for crypto businesses. This doesn’t mean there’s no control: companies are required to implement internal compliance control, follow AML and KYC protocols, and adhere to transparency requirements of corporate structures. Meanwhile, the cost of setting up a crypto company in Panama is significantly lower than in the EU, and the time to obtain a crypto license (if still required for certain activities) rarely exceeds 4–6 weeks.
A real case from COREDO’s practice: a client – a fintech company planning to launch a crypto wallet and token exchange for institutional clients in Asia and the EU. The solution developed by COREDO included registering a company in Panama, implementing AML and KYC policies with regard to international standards, and preparing documentation for subsequent bank account integration. The outcome: savings of over 70% on Licensing compared to similar projects in the EU and a fast market entry.
# Panama’s Tax System and Financial Infrastructure
Panama applies a territorial taxation principle: income earned outside the country is not taxed. For crypto companies, this means opportunities for legal tax optimization and transparent transfer pricing.
Panama’s banking infrastructure is developing, although opening accounts for crypto businesses requires meticulous KYC dossiers and internal audits. Tax optimization strategies developed by the COREDO team allow for bank account integration in the EU or Asia using the Panamanian structure as a holding or operational company.
Actionable insights:
- To successfully launch a crypto company in Panama, prepare an AML/KYC document package, choose an optimal corporate structure, and pre-agree on a banking account opening strategy.
- Pay attention to the need for regular internal audits and reporting to maintain business transparency and minimize account blocking risks.
MiCA: Crypto Business Requirements
# Key Requirements and Provisions of MiCA for Crypto Companies
MiCA regulation (Markets in Crypto-Assets Regulation), which came into effect in 2024, became a key factor in the transformation of the crypto industry in the EU. Licensing CASP in the EU now requires not only strict AML and KYC compliance but also the implementation of comprehensive compliance control procedures, internal audits, and transparent virtual asset reporting.
For many fintech companies and startups, this means the need to revise business models, increase share capital, and implement new digital identification technologies. EU regulatory requirements are aimed at protecting investors’ interests but also significantly increase costs and timelines for launching a crypto project.
# Costs and Licensing Timelines Comparison in MiCA and Panama
comparison of jurisdictions for crypto business shows: the cost of launching a crypto project in the EU might exceed €100,000 just at the licensing stage, and the timeline to obtain a crypto license for CASP ranges from 6 to 12 months. Meanwhile, registering a company in Panama is 5–10 times cheaper, and all stages (from document submission to banking account integration) take 3–6 weeks.
COREDO’s practice confirms: for clients, where speed to market and cost optimization is critical, Panama becomes a real alternative to MiCA. However, keep in mind: the absence of an EU license limits direct access to certain institutional investors and payment services within the EU.
# MiCA Risks and Limitations for International Scaling
MiCA introduces strict boundaries for international scalability of crypto companies, especially regarding cross-border payments and dealings with non-residents. Managing reputational risks, protecting investors’ interests, and complying with international FATF standards become key tasks for compliance departments.
A real case: one of COREDO’s clients, a European crypto startup that was forced to completely revise its corporate structure after MiCA’s implementation, to prevent losing access to Asian markets. The solution involved creating a holding company in Panama followed by a subsidiary licensing in the EU and Asia.
Actionable insights:
- When choosing between MiCA and Panama, consider not just costs and timelines but also strategic goals: if access to EU institutional investors is essential, a CASP license is mandatory.
- For flexible scaling and cost optimization – an offshore jurisdiction for crypto (Panama) might be a more effective solution.
Panama or EU (MiCA): Where to Open a Crypto Business?
# Comparison Table: Key Parameters of Panama and MiCA for Crypto Business
| Criterion | Panama | EU (MiCA) |
|---|---|---|
| Crypto License Required | No (General AML rules) | Yes (CASP, strict procedure) |
| Launch Timelines | 2–4 weeks | 3–9 months |
| Registration Costs | Low | High |
| Tax Burden | Territorial principle, benefits | Transparent, higher |
| Share Capital Requirements | Minimal | Medium/High |
| Banking Infrastructure | Limited but accessible | Developed, but harder to open an account |
| Compliance and AML | Voluntary/minimal | Strict, mandatory |
| Reputational Risks | Medium | Minimal |
| Scalability Potential | High (Flexibility) | Limited by regulations |
# Practical Cases of Entering EU and Asian Markets via Panama
In 2023–2025, the COREDO team facilitated several projects to open a crypto company in Panama for operations with the EU and Asia. One of the most illustrative cases was launching a platform for cross-border payments and virtual asset exchanges between European and Asian clients. Thanks to Panamanian jurisdiction, it was swift to integrate bank accounts in Singapore and the UK, as well as ensure compliance with international AML and KYC standards.
The client was able to conduct business without MiCA, maintaining corporate structure flexibility and minimizing regulatory risks. This approach was especially in demand among institutional clients in the crypto industry, where the speed of introducing new products and corporate structure transparency are crucial.
Actionable insights:
- When choosing a jurisdiction for a crypto business, consider not only direct costs but also scalability possibilities, banking service integration, and reputational risk management.
- Panama: an efficient tool for entering EU and Asian markets, especially with the proper integration of AML/KYC and internal control.
Compliance and AML for Crypto Business in the EU and Panama
# How to Ensure Compliance with International FATF Standards in Panama
Implementing new regulatory requirements and ensuring compliance with international FATF standards is a key challenge for crypto companies in any jurisdiction. Panama actively adapts its legal framework to align with global AML and KYC trends.
Best practices for AML for companies in Panama include implementing a risk-based approach, regular internal audits, automating KYC processes, and integrating digital identification technologies.
The COREDO team practically implemented projects to build a compliance system for crypto startups, where special attention was given to employee training, Due Diligence procedure implementation, and constant transaction monitoring. This approach not only meets FATF requirements but also minimizes the risk of account and asset blocking.
# Internal Control, Reporting, and Risk Management
For long-term sustainability of a crypto company in Panama, building a transparent system of internal control, reporting, and reputational risk management is critical. International standards require the implementation of compliance control, regular corporate structure reviews, and investor interest protection.
A real example from COREDO’s practice: initiating an internal audit for a crypto company focused on institutional clients allowed identifying and addressing potential violations before partnering with major banks in the EU.
Actionable insights:
- Invest in the automation of KYC and AML processes to ensure long-term business sustainability and transparency.
- Regularly update internal control policies in line with international requirements and trends.
Launching a Crypto Company in Panama
# Step-by-Step Guide to Registering a Crypto Company in Panama
- Prepare the corporate structure: define founder composition, share distribution, choose the optimal model (holding, operating company).
- Gather and prepare documents: articles of association, KYC dossier, AML policy, address confirmation, and identification of beneficiaries.
- Submit application and registration: fully remote company opening through accredited agents.
- Implement compliance procedures: develop and implement internal AML/KYC policies, staff training.
- Receive corporate documents: registry extract, registration certificate, corporate seal.
A COREDO project for a Slovak crypto startup demonstrated that with proper preparation, all stages can be completed in 2–4 weeks.
# How to Open a Bank Account and Integrate Payment Services
Panama’s banking infrastructure requires a special approach: opening an account for a crypto company requires an extensive KYC dossier, business plan, and proof of funds source. The COREDO-developed solution includes integrating accounts in international banks (EU, Asia) through a Panamanian structure, allowing for cross-border payments and minimizing blocking risks.
# Scaling the Business and Entering International Markets
Scaling crypto companies registered in Panama is possible due to the flexibility of the corporate structure, low tax burden, and the ability for quick international market entry. COREDO practice shows: for successful scaling, it’s vital to pre-design strategies for banking service integration, compliance with international standards, and reputational risk management.
Actionable insights:
- Prepare an extensive KYC dossier and business plan for account opening.
- Use the Panamanian structure for holding and operational tasks, integrating banking services in the EU and Asia.
Thus, competent planning of corporate and banking infrastructure forms a solid foundation for sustainable development of a crypto company in Panama and the minimization of operational risks: let’s further explore key risks and prospects of working with cryptocurrency in the jurisdiction.
Cryptocurrency in Panama: Risks and Prospects
# Potential Regulatory Changes and Their Impact on Business
In 2025–2027, further alignment of Panama’s legal framework with international FATF standards is expected along with new regulatory initiatives in the cryptocurrency sector. This can affect compliance requirements, reporting, and internal control. COREDO analytics show: companies that pre-implement best practices in AML/KYC adapt more easily to new requirements and minimize operational risks.
# Reputational and Operational Risks for Companies and Investors
Registering a crypto company in Panama is associated with certain reputational risks for European clients and institutional investors. To minimize them, it is important to ensure corporate structure transparency, regular internal audits, and compliance with international standards. A COREDO solution implemented for one of the clients included introducing a reputational risk management system and automating investor reporting.
Actionable insights:
- Stay informed about legislative changes and adapt internal processes in advance.
- Invest in systems for managing reputational and operational risks.
Conclusions and Recommendations for Business
- Goals and Strategy Analysis: Determine your priority – launch speed, cost optimization, or access to EU institutional investors.
- jurisdiction selection: if flexibility, speed, and tax benefits are critical: Panama as an alternative to MiCA will be the optimal choice; for working with large EU investors, a CASP license is mandatory.
- Document Preparation: Pre-prepare a full package of KYC/AML documents, business plan, and ownership structure.
- Compliance and Internal Control: Implement automated AML/KYC systems, conduct regular internal audits, and invest in team training.
- Scaling and Integration: Use the Panamanian structure for international scaling, integrate banking services in the EU and Asia.
- Risk Management: Monitor regulatory changes, ensure corporate structure transparency, and build trust with investors through regular reporting.
COREDO remains your reliable partner at every stage: from choosing a jurisdiction and registering a company to implementing compliance and scaling your business. Our experience and deep understanding of international trends enable us to develop solutions that not only meet current requirements but also ensure long-term sustainability and investment appeal of your crypto business.