Panama. Accounting Records Keeping Obligation
The Government of Panama has enacted new legislation in respect to the safeguarding and obligations derived from the new responsibilities of Registered Agents.
According to the new law, a Panamanian Registered Agent must have on file within six (6 months) of the enactment of the law a copy of the accounting records of each company, plus the sustaining documents for the past five years of existence of all companies that have been incorporated under Panama Law.
Further, sustaining documentation to the said accounting records must be also submitted to the Registered Agent in a prudent time after the submission of the accounting records.
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