Head-to-head
Cayman Islands Exempted Company (Cayman Islands): forms in 3–5 days from USD 3,200; privacy — no public register of members; strongest for funds & venture structures. The default jurisdiction for investment funds and vc-backed holding companies.
Panama Corporation (Panama): forms in 3–5 days from USD 1,300; privacy — bearer shares immobilised; not public; strongest for Latin America holding. Territorial taxation and a century of corporate history.
Cost & speed verdict
On raw formation economics the comparison is USD 3,200 against USD 1,300; renewals track similarly. On speed, Cayman Islands Exempted Company completes in 3–5 working days versus 3–5 for Panama Corporation — in both cases your certified KYC pack is the real clock.
Banking & acceptance verdict
Counterparty and bank acceptance often decides this contest. Cayman Islands Exempted Company is the natural pick where the mandate is funds & venture structures; Panama Corporation wins where the file leans toward Latin America holding. GoldenKey maintains a live acceptance map across UAE, Singapore and EMI compliance desks for both registries.
Our recommendation
Choose Cayman Islands Exempted Company when funds & venture structures describes your plan; choose Panama Corporation when Latin America holding does. When neither fits cleanly, a UAE free-zone license or an ADGM SPV frequently beats both — we will tell you honestly in a free consultation.