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Shares in Panamanian Corporations
This article retains its original publication date. Its legal references and descriptions reflect the context in which it was written. For advice on your current circumstances, contact the firm.
Editorial review dated September 7, 2026: outdated references have been corrected. The original publication date is retained.
Shares represent participation in a corporation. Their rights, transfer arrangements and documentation should be reviewed together with the articles of incorporation and the applicable legislation.
Registered and bearer shares
Panama adopted a custody regime for bearer shares through Law 47 of 2013, amended by Law 18 of 2015. The original article's suggestion that this regime was only a future proposal is therefore outdated.
Corporate documentation
When organising a company, its shareholders and advisers should review the share structure, corporate records and applicable custody requirements. Share capital should be assessed for the particular structure; the amount quoted in the original article should not be read as a universal legal minimum.
Ownership and compliance
The form of a share does not remove the need to examine identification and due diligence obligations. Clear records help document ownership, changes in participation and the decisions of the company.
For assistance with a corporate structure, explore BCCA's corporate services.
Reference: Superintendency of Banks: circular on Law 47 of 2013, amended by Law 18 of 2015.