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US LLC for Panamanian Business Owners: Price, EIN, Stripe
Short answer: Whether you were born in Panama or moved there, you can own a US LLC if you hold no US citizenship or US residence. All State Tax Resolution forms the company in Wyoming, gets your EIN without an SSN and keeps the IRS filings current, with Sabih Shafi as its IRS Enrolled Agent. A Panamanian company does not solve Stripe, because Panama is not on Stripe's country list; expect $795 USD once to form the LLC, then $695 USD every year, with the first year bundled at $1,395 USD.
Key takeaways
What matters is your US status, not your passport: a foreigner living in Panama can own the LLC just as a Panamanian can.
Stripe says it has to support payments in a country before an account can be opened there, and Panama is not on its list. For a US account, Stripe wants the business itself registered in the US.
PayPal lists Panama, and its help page puts the country among those with bank transfers of up to 7 business days.
Panama does not appear on the IRS list of treaties.
The EIN request goes by fax without an SSN, generally within 4 business days according to the IRS.
Facts about Stripe, PayPal and the IRS on this page were checked on their official pages on October 6, 2026.
Who can own the LLC: Panamanians and people who moved to Panama
The IRS test is simple: a foreign person is an individual who is neither a US citizen nor a US resident. Nothing in it mentions birthplace, so a Panamanian, a Colombian or a Venezuelan living in Panama can all qualify. The LLC itself is formed in the United States, and you do not have to live there.
US citizens and green card holders are not covered here. If you are one and live in Panama, our page on US tax help for Americans in Panama is the one for you.
A Panamanian company or a US LLC for Stripe?
Stripe's pages settle this with two rules. First, an account in a country other than your own needs a legal entity registered in that country, and Stripe has to support payments there. Panama is not on Stripe's global list, which marks everything outside it as payments not supported yet. So a company registered in Panama has no Panamanian Stripe account to apply for.
Second, for a US account, a registered business must be registered in the US, however far away it operates. An LLC is registered in the US. Stripe then looks at the company's name and type, its EIN, an SSN or ITIN, and its address. When the representative is a non-US individual without an SSN or ITIN, Stripe's tax ID page asks for a local tax ID and proof that the person is not a US taxpayer. Stripe decides.
PayPal in Panama: what its pages say
Panama is on PayPal's country list; the company behind the agreement is PayPal Pte. Ltd., based in Singapore.
The agreement's test for a business has three branches: it is organized in a listed country, operates there or is resident there. The sign-up asks for your legal name and email, a password, your business registration number, a short description and the bank account details of the business.
The withdrawal page opens with a general warning. Product availability varies by market; some countries are limited to cross-border transactions and need a licensed local partner to receive money. No country is named, so this is not a Panama-specific rule.
On that page Panama is one of the countries listed for bank transfers of up to 7 business days, and any transfer may be reviewed, delayed or stopped.
A US PayPal account is a separate contract. The US agreement wants a US-organized business (or one operating or resident there), or an individual who lives in the US; PayPal decides on an LLC.
Panama and the IRS treaty list
The IRS list of income tax treaties includes no Panama, and the table of treaties in effect doesn't either. In the IRS's words, where no treaty exists you pay tax on the income the way the instructions for the applicable US return describe, at the rates they give. That IRS page is about income from US sources.
A local professional handles home-country reporting, and we coordinate with them. We state no Panamanian rules or numbers.
Panamanian businesses that sell to the US
Think of consultants and remote professionals, tour operators with American guests, freight and shipping agents, online resellers, and travel or relocation consultants with US clients. The buyer pays a US company, and the money is received in a US bank account opened for the LLC, if a bank agrees.
Resellers who ship goods into a US warehouse should start with our guide for foreign sellers: income from selling US inventory is effectively connected income, in the IRS's terms.
Price, in three parts
Formation costs $795 USD. It covers a 30-minute call with me, your EIN, Wyoming's filing fee, a first year of agent service, an English or Spanish operating agreement and a document pack aimed at banks and Stripe.
The yearly part is $695 USD. Covered: the Wyoming annual report and its license tax, a renewed registered agent, deadline reminders, Form 7004 extensions and Form 5472 with its pro forma Form 1120. Formation and the first year together come to $1,395 USD.
Wyoming requires every LLC to have a registered agent. We charge a flat fee, written down before work starts. The packages are for a single owner; with partners the filing changes. We default to Wyoming, while Delaware or another state is possible on request and the price may differ. More detail is on the pricing page.
After you sign: fax, then Form 5472
Start with your passport, your home address and a line about what the LLC will do; we then file in Wyoming, normally within a business day of having it all. Next comes Form SS-4, sent by fax, with "foreign" or N/A on line 7b because the online route requires an SSN or ITIN.
Each year the LLC receives money from you or pays you, it must send Form 5472 with a pro forma Form 1120. The IRS penalty for failing to file on time is $25,000 USD.
How we help
This is Sabih Shafi, an IRS Enrolled Agent whose license covers representing taxpayers before the IRS in all 50 states. I speak Spanish, and my wife is Venezuelan, so the Latin American way of doing business feels familiar. Reach me by phone or video; I answer in English or Spanish.
I form your Wyoming LLC and request the EIN by fax, with no SSN required.
I handle the yearly Form 5472 filing and the pro forma Form 1120 that goes with it.
I prepare your Stripe, PayPal and bank papers; the platforms decide, and I cannot promise an approval.
A notice from the IRS? I can represent you as an Enrolled Agent.
The fee is flat and written down first.
Call or text (323) 900-0305, or book your free 20-minute tax review.
Frequently Asked Questions
Can a company registered in Panama open a Stripe account?
Stripe says it has to support payments in a country before an account can be opened there, and Panama is not on its global list. A US account is different: the business must carry a US registration, and an LLC does. Stripe decides.
How much is a US LLC for someone in Panama?
Forming it costs $795 USD, with the Wyoming fee and a year of registered agent service included. Keeping it compliant costs $695 USD per year, so formation plus the first year is $1,395 USD.
How does PayPal send money to a bank in Panama?
PayPal lists Panama, and its withdrawal page names the country among those where bank transfers can take up to 7 business days. All transfers are subject to review.
Does Panama have a tax treaty with the United States?
No treaty with Panama appears on the IRS list. In that case the IRS refers you to the instructions of the applicable US return.
What is Form 5472 and who files it?
It is the IRS report on dealings between the LLC and its foreign owner. A one-owner LLC sends it with a pro forma Form 1120 in any year with a reportable transaction.
Do I have to travel to the United States?
No: forming the LLC and requesting the EIN happen entirely by phone and video. Whether a bank opens an account for you is the bank's decision.
General information, not tax advice for your situation.
Related Reading
Talk to an Enrolled Agent
This article is general information, not individual tax advice. If you want to talk through your own IRS or state balance, book a free 20-minute review or call or text us directly.
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