FLASH REPORT – SUSPENSION OF A LEGAL ENTITY´S CORPORATE RIGHTS AND DISSOLUTION

Eduardo Achurra MonteroPartner, Pardini & Asociados

According to the recently enacted Law 52, which entered into effect on January 1st, 2017, Panama´s competent authority will suspend the corporate rights of a legal entity in the following cases:

1. If the legal entity spends more than 90 days without appointing a registered agent

2. If the legal entity does not comply with the payment of its government fee for a period of 3 consecutive years

3. If the legal entity fails to pay any fine or penalty, imposed by the competent authority.

To learn more about the status of your Panama company or more details about the Law 52, please send us an email to [email protected]