With the purpose of participating in trade or industrial activities, every company o individual must have a legal authorization from the Ministry of Industry and Commerce in the form of a business license (or Operation Notice) which is conferred in order with the type of activity.
There are three types:
- Business License Type "A": it is required for Wholesale operations, Banks, Financial Entities, Insurance companies, International transportation companies, Mutual Funds, Public Services and others.
- Business License Type "B": it is required to operate wholesale or retail businesses, Service companies, bars, restaurants, drugstores, gas stations, distribution and others. This type of license is granted only to companies owned by panamanians or individuals.
- Industrial license: it is required for manufacturing, construction companies and other similar activities.
The process of obtaining an operation notice is quite fast and it can be done in one day, only if the programmed activity does not demand special requirements.