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On several occasions, the severity of the panamanian legal system has been questioned. However, such criticisms resonate with a strident voice when they address tax issues, corporations, transparency and international cooperation in the exchange of information, for example. Such questions are decisive for organizations such as the Financial Action Task Force (FATF) to assess our performance and propose recommendations.
We have had consequences from this that affect our reputation and the development of the economic and financial sector; which means that we have to make adjustments that make the legislation more robust around certain activities, among which is, as expected, that of the resident agent as a visible face when it comes to public limited companies.
It is our objective to offer a brief account of the construction of this figure, starting from Law 32 of February 26, 1927, on public limited companies until Law 254 of November 11, 2021 with important adjustments in terms of international tax transparency and prevention of money laundering, the financing of terrorism and the financing of the proliferation of weapons of mass destruction.
