The #1 alternative
Commenda vs Kraemer & Kraemer vs Mata & Pitti
A Panama law firm forms your corporation and acts as resident agent. All three do it. The cost comes after.
Comparison at a glance
Kraemer & Kraemer and Mata & Pitti form the corporation and serve as resident agent in Panama. 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. Forms your Panama S.A. (Articles, resident agent year 1, franchise tax year 1, three-director board with nominees) and runs ITBMS, DGI returns, accounting, payroll, and transfer pricing across 70+ countries.
Kraemer & Kraemer
Panama law firm. IBC formation and resident agent, with corporate nominees at +$300/year and annual franchise tax USD 300. Panama-focused legal services. Good for a Panama-only corporation with a local firm on call.
Mata & Pitti
Panama law firm. Standard IBC package with first-year agent, franchise tax, certified documents, apostille, and translation; nominee directors +US$450. Good for a Panama-only corporation handled by a local firm.
Feature comparison
Why we do it better
 | Kraemer & Kraemer | Mata & Pitti | |
|---|---|---|---|
| Starting price (incorporation) | $970 | Quote-based | Quote-based |
| Resident agent (year 1 included) | |||
| Annual franchise tax (tasa única) handled | |||
| Three-director board / nominees | +$300/yr | +US$450 | |
| Certified documents + apostille | |||
| Operation Notice + municipal filing | Model-specific | Model-specific | |
| ITBMS (VAT) + DGI returns ongoing | Model-specific | Model-specific | |
| Payroll + CSS social security | |||
| Transfer pricing (cross-border + CbCR) | |||
| Multi-entity consolidation / audit trail | |||
| Manage entities in other countries | |||
| 100+ ERP integration support | |||
| Delivery model | Software + service | Law firm | Law firm |
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: nominee director $860/seat/yr, annual maintenance $785/yr, DGI return $535/yr, Basic Compliance $859.50/mo
- Panama entity formed and managed, plus the cross-border layer (transfer pricing, consolidation)
- Customers typically retire 3 to 5 vendors
Kraemer & Kraemer
QuoteIBC formation
- Base formation quote-based; corporate nominees +$300/year for up to 3
- Annual franchise tax USD 300; all-in annual maintenance roughly $1,500 to $3,000 incl. legal fees
- Panama-focused; a local lawyer on call
Mata & Pitti
QuoteIBC package
- Standard IBC package incl. first-year agent, franchise tax, certified documents, apostille, translation
- Nominee directors +US$450; apostilled General POA +US$100
- Panama-focused; a local lawyer on call
How each model works
What's the difference?
How Kraemer & Kraemer and Mata & Pitti stack up against Commenda for entity management in Panama.
Commenda: Panama managed as part of your global group
- Forms the Panama S.A. (Articles, resident agent, franchise tax, three-director board, nominees)
- Then runs ITBMS (VAT), DGI returns, accounting, payroll/CSS, and transfer pricing
- Consolidates Panama with your entities in 70+ countries, one audit trail
Kraemer & Kraemer and Mata & Pitti: formation plus resident agent
- Form the corporation and keep the agent and franchise tax current, with a lawyer on call
- Capable on Panama legal work and one-off questions
- Ongoing tax, accounting, payroll, consolidation, and transfer pricing tracked off-platform
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 Kraemer & Kraemer if…
- Panama is your only entity and you want a local law firm as agent
- You want a lawyer on call for Panama legal questions, with nominees at +$300/year
Choose Mata & Pitti if…
- Panama is your only entity and you want a local law firm as agent
- You want a standard IBC package with documents, apostille, and translation included
Common questions
You need a resident agent, who must be a Panamanian lawyer or law firm, and three directors. Kraemer & Kraemer and Mata & Pitti act as that agent. Commenda provides registered agent service as part of the $970 formation and runs the ongoing compliance on software.
No. Panama requires three individual directors of any nationality with no residency requirement. Commenda provides nominee directors at $860 per seat; Kraemer & Kraemer offers corporate nominees at +$300/year for up to three; Mata & Pitti offers nominee directors at +US$450.
For a Panama-only corporation, a local firm forms it and serves as agent, often at lower cost, with a lawyer on call. Commenda is the better fit for a cross-border group: it forms Panama and runs ITBMS, DGI returns, accounting, payroll, transfer pricing, and consolidation across 70+ countries on one platform.
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, with the first year included in the $970 formation. Law firms charge their own agent and renewal fees on top of legal work.
About 20 days from submission of the requested documents with Commenda. Kraemer & Kraemer cites about 7 business days and Mata & Pitti about 5 business days for the formation step, before tax registration.
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.
