We announce to our clients who have a Corporation and/or Private Interest Foundation established in Panama with operations outside the country or exclusively holding assets, either inside or outside Panamanian territory, that the deadline to submit a copy of the accounting records for the year 2023 has been extended until August 31, 2024.
Failure to comply with this mandatory legal requirement may result in your Corporation or Foundation being:
Fined from USD 5,000 to USD1million depending on the severity of the infraction, recurrence, or the magnitude of the damage.
Suspended from corporate rights in the Public Registry, thus preventing the registration of any act, document, agreements, or obtaining related certifications. The fine to lift the suspension is USD 1,000.00.
If you have not yet fulfilled this requirement, please contact us as soon as possible to assist you and avoid penalties and fines.
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