Panama moves forward with beneficial owner register

Pedro Gonçalves
clock • 2 min read

Panama's National Assembly of Panama has approved a Bill that will create a register of beneficial owners of legal entities in the country at the centre of the biggest offshore scandal in history. Under the Bill, resident agents will be required to file relevant information on all Panama-incorporated legal entities for which they are acting. All legal entities incorporated in Panama must appoint a Panamanian lawyer or law firm as their resident agent. The jurisdiction's current beneficial ownership regime only requires resident agents to perform due-diligence on their client entities'...

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