# The beneficial owner registry Every Panamanian company names its beneficial owner in a private registry kept by the Superintendency of Non-Financial Regulated Entities. The resident agent files it within 15 business days of incorporation and validates it every year. The beneficial owner is the natural person who ultimately holds 25 percent or more, or controls the company by other means. The registry is not public. [Free consultation](/contact/) ## Who is the beneficial owner What is filed is always a natural person, never an intermediate company. But the agent still has to understand the whole chain of ownership and control, and the system can ask for supporting documents. Companies listed on a recognized stock exchange, or owned by a state or an international organization, are excluded. For banks the threshold is 10 percent. - First, the natural person who directly or indirectly holds 25 percent or more of the shares, participations or voting rights. - If there is none, the natural person who exercises final effective control by other means. - Only as an exception, if neither identifies anyone, the natural person in the highest management position. Source: Law 129 of 2020, articles 2 and 10; Law 23 of 2015, article 28; Executive Decree 13 of 2022, articles 9 and 10, as amended by Executive Decree 2 of 2023 ## What is filed The address is the physical one. If the exact date someone became beneficial owner is unknown, the date the agent was told counts. [Photo: RandyNavarroB](https://commons.wikimedia.org/wiki/File:Catedral_San_Juan_Bautista._Chitr%C3%A9,_Herrera..jpg)· [CC BY-SA 3.0](https://creativecommons.org/licenses/by-sa/3.0) - For each beneficial owner: full name, ID card or passport number, date of birth, nationality, home address and the date they became beneficial owner. - For the company: name, registry folio, date of registration, address, main activity and the jurisdiction where it operates, its RUC and the tax ID numbers of every country where it is tax resident. Source: Law 129 of 2020, article 10; Executive Decree 35 of 2022, article 13; Executive Decree 13 of 2022, articles 9 and 10 ## Deadlines The agent keeps the system’s receipt for five years after the company is dissolved or the agent stops serving it. - 15 business days from incorporation, from registration, or from the appointment of a new agent. - An annual validation by July 15 for companies registered from January to June, and by January 15 for those registered from July to December. - When the beneficial owner changes, the company tells the agent within 15 business days, and the agent updates the system within 5 business days. Source: Law 129 of 2020, articles 11 to 13, as amended by Law 254 of 2021; Executive Decree 13 of 2022, articles 2, 13 and 14 ## Who can see it The system is free, private and of limited access. Only the company’s resident agent and two officials designated by the Superintendency can see it. Competent authorities, such as the Superintendency, the Financial Analysis Unit, the Public Prosecutor, the Ministry of Economy and the tax authority, receive the data on request, immediately, and it can be shared for international cooperation. A new agent does not see what the previous one filed. Breaking confidentiality carries a B/. 200,000 fine, and unauthorized access a B/. 500,000 fine. Source: Law 129 of 2020, articles 2, 8, 14, 16, 17, 20 and 26 ## Fines and suspension If the agent does not file or update, the Superintendency fines the agent B/. 1,000 to B/. 50,000 for each company, plus B/. 500 a day for up to six months. A false statement by the agent is fined up to B/. 100,000; if the company or the beneficial owner lied, they bear the liability instead. A company that is not registered or up to date in the system has its corporate rights suspended, and to reactivate it pays the fine and files the beneficial owner from the date of the change. Some sites put the fine at US$5,000. The law in force says B/. 1,000 to B/. 50,000. Source: Law 129 of 2020, articles 22 to 25, as amended by Law 254 of 2021; Executive Decree 13 of 2022, articles 18 to 20 ## Questions people ask ### Is the beneficial owner registry public? No. Only the resident agent and two designated officials can access it; authorities receive the data on request. ### Who pays the fine? The fines in balboas are imposed on the resident agent. For the company, the sanction is the suspension of its corporate rights. ### Must I give my agent the information? Yes. The company must give the agent all the beneficial owner data and report any change within 15 business days. ### Does the agent have to resign if I do not give it? No rule obliges the agent to resign. The agent cannot start the relationship without the due diligence, and can resign without a recording fee. ## What the law does not say - Whether the beneficial owner can consult their own data in the registry. - Whether the agent can pass a fine on to the client by contract. That is a contractual matter. - Where the US$5,000 figure some sources cite comes from. It is not in the law in force. ## Official sources - [Superintendency of Non-Financial Regulated Entities](https://ssnf.gob.pa/) - [Official Gazette of Panama](https://www.gacetaoficial.gob.pa/) Last verified: October 28, 2026 ## Keep reading - [The documents you will need](/documents/) - [Opening a bank account](/bank-account/) - [The annual franchise tax](/annual-tax/) ## Thinking of forming a company in Panama? Book a free 15-minute call with a Panamanian lawyer. We will tell you what your company needs and what to prepare. 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