Additional Requirements from Panamanian Authorities:

It is mandatory to maintain internally by the client, supporting documentation that confirms the information presented in the balance sheet.

You must be prepared to provide support and additional details on your balance sheets and financial statements if requested by a Panamanian authority, in compliance with International Financial Reporting Standards (IFRS).

Mandatory information required by the Resident Agents:

Clients must inform us, as the Resident Agent of the company or foundation, about the contact person maintaining the accounting records and the address where they are kept. This information should be supplied using our due diligence form required for each corporation or foundation.

Legal Entities Exempt from the Obligation to Deliver Annual Accounting Records to the Resident Agent:

• Those that are tax residents in the Republic of Panama or carry out operations that take effect in Panama.
• Those listed on a recognized local or international stock exchange.
• Those owned by an international, multinational, or state organization.
• Owners or charterers of vessels registered exclusively under the international merchant marine service of the Republic of Panama.