Panama publishes law on beneficial owner register for legal entities

Panama published, in Official Gazette 28985-C, Law 129 of 2020 (the Law), which creates the Registry System for Beneficial Owners of Legal Entities. The purpose of the Law is to establish the regulatory framework for the creation of the registry system to facilitate access to information about beneficial owners of legal entities collected by attorneys who provide resident agent services. The Law also is aimed at assisting the competent authority with preventing money laundering, the financing of…