Side-by-side on the points that decide where you incorporate: corporate tax, FATF standing, sanctions exposure, data-protection law, arbitration enforceability, apostille, foreign ownership and local-director requirements.
Jurisdiction table checked: 2026-10-02
| United Kingdom [GB] | Panama [PA] | |
|---|---|---|
| Region | Europe (non-EU) | Latin America |
| Corporate tax rate | 25% | 25% |
| FATF status | compliant | compliant |
| Sanctions exposure | No | No |
| EU list of non-cooperative jurisdictions | not listed | Annex I — listed |
| Data-protection law | UK GDPR + DPA 2018 | Ley 81/2019 |
| New York Convention | Yes | Yes |
| Apostille Convention (1961) | Yes | Yes |
| Foreign ownership | Yes | Yes |
| Local director requirement | No | No |
United Kingdom appears in neither annex of the EU list as at the current revision.
Panama is in Annex I of the EU list. Member states apply defensive measures to Annex I jurisdictions; these differ by member state and commonly involve denial of deductions, withholding, or additional reporting. The list is revised twice a year.
The applicable data-protection statute is UK GDPR + DPA 2018 (in force since 2018). If you process EU/UK personal data you also need a valid transfer mechanism into United Kingdom.
The applicable data-protection statute is Ley 81/2019 (in force since 2019). If you process EU/UK personal data you also need a valid transfer mechanism into Panama.
Neither is obviously right until you know what you are optimising for — tax, banking, enforcement or speed.
Informational resource curated by the Ignito legal practice and cross-checked against primary sources. This is not legal advice and does not create a lawyer-client relationship. Rules change — verify against the primary source before you sign or file. Terms of Use