The #1 alternative
Commenda vs BBCIncorp vs OnDemand International
In Panama, the company is the easy part. All three form it. The franchise tax, agent, and returns come after.
Comparison at a glance
BBCIncorp and OnDemand International form and renew the Panama corporation. Commenda runs four suites across 70+ countries, so one platform takes you from your Panama S.A. to a full multi-country group.
Commenda
Global entity management with complete compliance. Sets up your Panama S.A. (Articles, resident agent year 1, franchise tax year 1, three-director board with nominees) and runs it alongside entities in 70+ countries, with consolidation and transfer pricing.
BBCIncorp
Offshore CSP. Forms a Panama non-resident corporation, with all-in renewal at US$1,499/year. Operates across multiple offshore jurisdictions. Covers Panama formation and renewal plus offshore bank-account introductions.
OnDemand International
Market-entry and formation provider. Panama incorporation from US$1,085, with registered agent, nominee, and banking priced separately. Operates across many jurisdictions, formation-led.
Feature comparison
Why we do it better
 | BBCIncorp | OnDemand International | |
|---|---|---|---|
| Starting price (incorporation) | $970 | Quote-based | from US$1,085 |
| Resident agent (year 1 included) | |||
| Annual franchise tax (tasa única) handled | |||
| Three-director board / nominees | |||
| Operation Notice + municipal filing | Model-specific | Model-specific | |
| Bank account introduction | |||
| ITBMS (VAT) + DGI returns ongoing | |||
| Payroll + CSS social security | |||
| Transfer pricing (cross-border + CbCR) | |||
| Multi-entity consolidation / audit trail | |||
| Manage entities in other countries | Offshore set | Varies | |
| 100+ ERP integration support | |||
| Jurisdiction reach | Global, 70+ | Offshore CSP | Multi-country |
Built for different buyers
Pricing compared
Advertised rates as of June 2026. Competitor pricing changes often.
Commenda
$970one-time
- Includes Articles of Incorporation, share certificates, franchise tax year 1, notarial fees, and registered agent year 1
- Modular: Operation Notice $325, nominee director $860/seat/yr, annual maintenance $785/yr, DGI return $535/yr, Basic Compliance $859.50/mo
- Panama entity set up and managed, plus the cross-border layer (transfer pricing, consolidation)
- Customers typically retire 3 to 5 vendors
BBCIncorp
US$1,499all-in renewal / yr
- Initial formation package quote-based; Panama non-resident corporation
- Offshore bank-account introductions across multiple offshore jurisdictions
- Formation and renewal focus; no ongoing ITBMS, DGI, payroll, or consolidation
OnDemand International
from US$1,085incorporation
- Registered agent, nominee directors, and banking priced separately
- Formation and renewal focus across many jurisdictions
How each model works
What's the difference?
How BBCIncorp and OnDemand International stack up against Commenda for entity management in Panama.
Commenda: Panama managed as part of your global group
- Sets up the Panama S.A. (Articles, resident agent, franchise tax, three-director board, nominees)
- Then runs ITBMS (VAT), DGI returns, payroll/CSS, accounting, and transfer pricing
- Consolidates Panama with your entities in 70+ countries, one audit trail
BBCIncorp and OnDemand International: Panama formation plus renewal
- Register the corporation and keep the resident agent and franchise tax current
- Lower entry cost for a single offshore or holding company
- No ongoing ITBMS/DGI filing, payroll, consolidation, or transfer pricing across a wider group
Making a decision
Which one should you choose?
The right fit depends on your footprint and stage in Panama.
Choose Commenda if…
- You operate in Panama and at least one other country
- You want Panama managed alongside the rest of your group, with consolidation
- You want resident agent, franchise tax, nominees, ITBMS, DGI returns, and transfer pricing in one place
Choose BBCIncorp if…
- Panama is a standalone non-resident or holding corporation
- You want a fixed all-in renewal (US$1,499/year) and offshore bank-account introductions
Choose OnDemand International if…
- Panama is a standalone formation
- You want incorporation from US$1,085 and will add nominee, agent, or banking as needed
Common questions
Yes, foreigners can own 100% of a Panama S.A. with no residency requirement, but every corporation must appoint a resident agent (a Panamanian lawyer or firm) and three directors. Commenda, BBCIncorp, and OnDemand International all provide the resident agent and can fill director seats with nominees.
No. Panama requires three individual directors of any nationality, with no residency requirement, so there is no local-director rule. You can use co-founders or appoint nominees for any seats you cannot fill. Commenda's nominee director is $860 per seat per year.
For a standalone Panama corporation or holding company, BBCIncorp and OnDemand International form and renew it at a lower entry cost. Commenda is the better fit for a cross-border group: it manages Panama alongside entities in other countries, with ITBMS, DGI returns, payroll, transfer pricing, and consolidation.
Every corporation must keep a resident agent and pay the annual franchise tax (tasa única, USD 300). Commenda bundles this into a $785/year maintenance package from year 2 (registered agent, franchise tax, due diligence, and VAT), with the first year included in the $970 formation.
About 20 days from submission of the requested documents with Commenda (registration, corporate documents, and tax registration RUC + NIT), excluding time to gather KYC documents.
100 questions, from real customer calls.
The questions finance teams actually ask about entity management: EINs for non-residents, Delaware vs Wyoming, cleaning up the entities a previous provider left behind, and more. If you're looking for something, you'll find it here.
