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'...
To continue reading this article...
Join International Investment
Join International Investment today
Unlock members-only benefits:
- Unlimited access to real-time news, industry insights, video features and market intelligence
- Stay ahead of the curve with spotlights on international financial centres, regional trends international advice and global industry leaders
- Receive breaking news stories straight to your inbox in the daily newsletters
- Hear the latest cross jurisdictional developments in wealth planning, tax, regulation, investing, retirement and protection
- Members-only access to the Editor’s weekly news roundup newsletter
- Members-only access to analysis via our exclusive industry polls
- Be the first to hear about our events and awards programmes