Panama will launch a private register of beneficial owners of Panamanian entities, following the approval by the Panama National Assembly of Bill No. 169 (the “Bill”), which sets out the legal framework for the establishment and regulation of a beneficial owner register. The Bill is not yet law but will become effective the day after it has been executed by the President of the Republic and then published in the Official Gazette.
Once the Bill enters into law, resident agents of Panamanian entities will be required to file certain information on the Ultimate Beneficial Owner (the “UBO”) of the entity at the Superintendence of Non-Financial Institutions (the “Superintendence”). This information will not be available to the public.
The new law will apply to all entities incorporated and registered in Panama: companies, foundations, SRLs and foreign entities registered at the Panama Public Registry.
Our briefing note provides more detailed information on the Bill and the actions we will take once it becomes law.
Read our briefing for more information.
Lea nuestro informe para más información.