Fewer and fewer lawyers are accepting the role of resident agent in Panama due to the controls applied to jurists.
Many legal professionals have desisted from becoming resident agents in Panama following the drastic changes introduced with the implementation of Law 254 of November 2021. Many lawyers have preferred to stay away from all matters related to the incorporation of companies and foundations. This is not the case of the prestigious law firm Caporaso & Partners. We have been leaders in the offshore sector since 1992, with the firm OPM Corporation and now with the law firm Caporaso & Partners. We offer Panama resident agent services and nominee directors at the best prices in the market.
Role of the resident agent in Panama
Every offshore company or private interest foundation registered in Panama must have a resident agent. This agent serves as a liaison between these structures and the Panamanian Government. However, the agent resident in Panama has no right to participate in the decision making of the corporation or foundation. Nor can they enter into obligations of any kind on behalf of the corporation or foundation they represent.
Law 254 added new functions to the role of the resident agent in Panama. It is now mandatory for this agent to receive annually the accounting records of each corporation or foundation it administers. The agent must also file supporting documentation provided by the client, such as copies of invoices and contracts. All this information must be kept for a period of five years, normally at the agent’s office.
In addition, the resident agent in Panama must submit an annual affidavit to the General Directorate of Revenue with a list of all the legal entities to which it offers the service. It is also necessary for them to enter their personal data and those of the final beneficiaries of the legal entities for which they work in the online platform of the Unified System of Beneficiaries.
Caporaso & Partners, 30 years in business
Attorney Giovanni Caporaso Gottlieb has achieved a well-established reputation in the offshore business for 30 years. The firm has specialized in the formation of asset protection structures with corporations, private interest foundations and holding companies. We offer an extensive list of services, including advice on opening offshore bank accounts and e-wallets. In addition, we are specialists in mediating banking disputes and frozen or blocked accounts. We comply with KYC and anti-money laundering policies.
Caporaso & Partners offers the service of resident agent in Panama, with the most competitive prices in the market. The cost of this service, both for corporations and private interest foundations, is US$350 per year. The firm offers its address as legal domicile for the corporation or foundation represented, included in the price.
For those interested, the firm can also provide nominee directors or the founding board, at no additional cost.
Caporaso & Partners’ three decades of experience in the business have allowed us to position ourselves as a very reliable resident agent in Panama. Our experienced team of professionals has a deep knowledge of Panamanian legal intricacies that allows them to better defend the interests of their clients and guarantee the maximum protection of their private information.
Our services are available upon request if your Resident Agent in Panama no longer wishes to continue with this task or if you are simply dissatisfied with your Resident Agent in Panama. We accept payments in CUP, VEF, COP, USD, EUR, BTC and USDT.