WILLIAMS & ASSOCIATES complies with the duty to inform its distinguished national and international customers and the owners of bearer shares in general of Panamanian corporations/companies, that from August 6, 2015, until December 31, 2015, shall within this period, change your shares, of bearer shares to nominative shares, according to a new law.
If you want to keep the bearer shares, you shall establish in its Articles of Incorporation, that you will comply with the regime of custody of shares by Banks with General License, Trust Companies established in the Republic of Panama, Brokerage Houses and Central Securities firms and Lawyers and Resident Agents, authorized by its regulatory Agency .According to law 47 of 2013, and must deliver their bearer share certificates to an authorized custodian.
Every company that has issued bearer shares before August 6, 2015, will have until December 31, 2015 to:
Amend its articles of incorporation to convert them into nominative shares or stipulate that they will comply with the procedure of custody; according to the law 47 of 2013 must deliver their bearer share certificates to an authorized custodian, under a notarized affidavit.
Subsequent to December 31, 2015, all Articles of Incorporation of Panamanian companies will not be able to include bearer shares, unless the issuance of bearer shares are specifically issued, under the exclusive condition, that the shares will be subject to the custodian regime. (Act 47 of 2013).
The following requirements will be needed for the change to custodians:
- Complete name of the Shareholder.
- Passport Number of Official Country ID Number.
- Address details.
- Telephone number.
- Email address.
- Scanned Passport or official ID Copy.
- Custodian information (us Williams & Associates).
- We will prepare a draft of this document for your reference when required.
All new Panamanian companies that has included in the Articles of Incorporations that the shares are nominative shares, will not require any changes.
We are pleased to inform you that Williams & ASSOCIATES offers its services to modify the Articles of Incorporation; become the Resident Agent of the company and informs you, that we are duly authorized to be Custodian of Panamanian companies that will for any reason decide to maintain bearer shares.
For further information contact us in our contact page or calling the number +507-397-1700.
Marco Williams de Souza – WILLIAMS & ASSOCIATES