Panamanian IBCs (International Business Corporations) have traditionally been vital legal vehicles for the offshore industry specially because of their confidentiality. It is well known that Panama is one of the last jurisdictions in the world to offer what is known as bearer shares.
Bearer shares are the opposite from the more widespread Nominative Shares, and the first ones are crucial for global investors looking for regulatory advantages available offshore.
So it’s vital that if you are a beneficiary of a Panamanian corporation that was incorporated prior to May 4th, 2015, must take one of the following actions before December 31s, 2015:
- Substitute the current bearer shares for nominative shares or,
- Place the bearer shares with a registered Custodian
If such actions are not addressed will be considered delinquent.
Our Costa Rican Law Firm was created to provide first-class legal services to selected clients that conduct business in Costa Rica and in other countries. For more information, email us at info@glcabogados.com or call us at +506 2524-3176.