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Change of Resident Agent for Panama Corporations and Foundations

 

As it is now known, the resident agents (laywers or law firms) can be changed, as it is estipulated by the new respective norms about juridical persons established in codes and special laws in Panama. In this regard law No. 2 of 2011 established some requisites to this end. These requisites have now being derogated according to Law No. 49 of September 11th, 2018.

In effect, Law No. 49 eliminates the requisite by which the exiting resident agent had to issue previous to the reléase of the juridical person a certification where it was stated that:

  1. He agreed to the change

  2. That nothing was owed to him for the exercise of the function.

 

In addition to this, it also eliminates the prohibition given to the Public Notaries of not closing a Public Deed where it the change of resident agent was going to be registered with having the said respective documentation in such certification.

Law No. 49 of 2018 was published in the Official Gazzette of Panama No. 28610-B of September 12th, 2018. For more information on changing the resident agent of a Panama Corporation or Foundation contact FIDEX GROUP SA., Tel:+507-227-1741, Email:fidexgroupsa@gmail.com