Study finds Panama more transparent than United States

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Pag 4 OCDE_optWhile Panama is complying with the requirements of the Organization for Economic Cooperation and Development (OECD), discussing elimination of bearer shares, a study by Professor Jason Sharman, director of the Center for Government and Public Policy at Griffith University, Australia, said that the Corporate Services Providers (PSC) of Panama comply more with established international standars than their counterparts in the United States, the largest and most important financial center of the world.

In coming weeks Panama’s National Assembly will be discussing a bill that could have a direct impact on the registration of property in Panama.

The comparative study made by Sharman for the Faculty of Political Science of the University of Panama concludes that nominal societies that can not be traced are more common in the United States than in Panama.

This bill has the aim of meeting the requirements of the OECD, but the attorney said that to this group Panama only needs to present a copy of Act 2 that fully meets the standard of knowing who is behind a legal entity (company), even in the case of bearer shares.

According to a note of the US Treasury Department, Panama amended its legislation to address the practice of anonymous accounts.


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