Panama Crypto License | AML/KYC Compliance for Offshore Crypto Businesses

Panama has rapidly emerged as a standout offshore jurisdiction for crypto businesses seeking minimal regulation, low taxation, and scalability. Registering a Panamanian legal entity—usually classified as a Specialized Financial Institution (SFI) - is sufficient to begin operations ranging from exchange services to ICO/STO launches and NFT marketplace support. Paired with Scorechain’s AML/KYC solutions, this makes a compelling setup for globally minded crypto entrepreneurs.

What is a Crypto License in Panama?

A Panama crypto license isn’t a formal permit; rather, it’s the authorization to operate crypto services under an SFI classification. This covers a wide spectrum of services:

• Crypto exchanges (crypto-fi, crypto-crypto)
  
  
• Custodial wallet providers
  
  
• ICO/STO platforms & token issuers
  
  
• NFT marketplaces, DAOs, gamified platforms
  
  
• Crypto payment processors
  
  

Why Choose Panama for Your Crypto Business?

Step-by-Step: How to Secure Your Panama SFI Crypto License

1. Choose Your Legal Entity
Form an S.R.L. or S.A. in Panama and register as an SFI—this classifies you legally to provide crypto services 

2. Document Preparation & Company Setup
File incorporation documents, appoint at least 3 directors (can be non-residents), and obtain a registered office 

3. AML/KYC Policy Implementation
Develop internal AML/CFT policies aligned with FATF and international best practices. Here, Scorechain enables automated transaction monitoring, sanction screening, and real-time alerts.

4. Bank Account Opening
Gather due diligence documents (shareholder IDs, source of funds, business plan) to support bank onboarding

5. Apply for Commercial Licensing
Register with Panama’s Public Registry and finance authority. Publish required company disclosures on your website (e.g., T&Cs, privacy policy)

6. Regulatory Communication
If Panama's draft crypto law (Bill 697) is passed, SFI companies must register as VASPs and file compliance with KYC/AML norms

7. Maintain Ongoing Compliance
Adopt continuous monitoring: automated AML/KYC, periodic audits, KYC refreshers, suspicious activity reporting.

Why Scorechain Ensures Smooth Compliance

Integrating Scorechain’s AML/KYC toolkit helps you maintain compliance efficiently:

• Automated Monitoring & Risk Alerts: Track on-chain transactions, flags, and risk scores
  
  
• FATF Travel Rule & KYT Integration: Helps align with global standards for cross-border transfers
  
  
• Compliance Reporting Tools: Assist with internal and external audits, regulator inquiries, and suspicious activity reports
  
  

Panama vs. Malta: Offshore Efficiency Meets Global Compliance

• Regulatory Speed: Panama offers near-immediate company setup and global operations, unlike Malta’s 6–9 month license process.
  
  
• Tax Efficiency: Both offer low taxes, but Panama has 0% for offshore income vs. Malta’s effective ~5% via refunds.
  
  
• Compliance: Malta is EU-regulated under MiCA; Panama adopts international best-AML practices without EU passporting.
  
  
• Market Access: Panama is ideal for clients outside the EU; Malta is perfect if targeting EEA markets.
  
  

How Scorechain Simplifies Your Compliance

Compliance shouldn't overwhelm your crypto business.
Scorechain provides advanced blockchain analytics and AML compliance solutions specifically tailored for Panama CASPs, helping you:

• Automate AML/CFT Reporting: Simplify compliance reports required by the MFSA/FIAU.
• Real-Time Transaction Monitoring: Proactively identify and mitigate risks instantly.
• Enhanced Client Risk Assessments: Efficiently manage client profiling, ensuring robust risk management.
• Seamless Integration: Easily integrate compliance solutions into your existing business operations.

With Scorechain’s compliance solutions, you can confidently focus on scaling your crypto business.

Why Choose Scorechain?

• Trusted globally by leading crypto businesses.
  
  
• Comprehensive compliance solution for both industry experts and beginners.
  
  
• Dedicated support customized for your regulatory needs.
  
  

Ready to Get Your Panama Crypto License?

If you're preparing to apply for a crypto license in Panama - or just want to see how our solution fits into your compliance strategy - we’re here to help.

Let’s simplify your crypto compliance together.

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