Best Trusts Lawyers in Panama City

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Rose Moreno Legal Advisor & Translator

Rose Moreno Legal Advisor & Translator

15 minutes Free Consultation
Panama City, Panama

Founded in 2007
11 people in their team
English
Spanish
Trusted Immigration, Corporate, and Legal Services | Rose Moreno Legal Advisor & TranslatorAt Rose Moreno Legal Advisor & Translator, we are dedicated to delivering tailored legal solutions with professionalism and precision. Our expertise spans a wide range of legal and administrative...
Alfaro, Ferrer & Ramírez

Alfaro, Ferrer & Ramírez

Panama City, Panama

Founded in 1965
200 people in their team
Spanish
English
Our history dates back to January 21, 1965, when founding partners Eduardo Alfaro, Alejandro Ferrer and Alfredo Ramírez established the firm. After more than 60 years of service, we stand out as one of the firms with the greatest experience and track record in Panama.The main values ​​and...
Sucre | Arias | Reyes

Sucre | Arias | Reyes

Panama City, Panama

Founded in 1969
200 people in their team
Spanish
English
THE FIRMWe are the reflection of a living firm, in tune with the latest technologies, evolving and adapting to the needs of the current world and our clients. WE ARE AND WILL CONTINUE TO BE YOUR EXPERTS, WORKING HAND IN HAND WITH YOU.OUR HISTORYOur firm initiated operations in 1969 as SUCRE &...
AS SEEN ON

About Trusts Law in Panama City, Panama

The Panama Trusts Law dates back to 1984 and provides a highly flexible and efficient tool for global wealth management. Trusts in Panama offer privacy, security, ease of asset administration, and tax efficiency. They are widely used for many purposes including estate planning, protection of assets, confidentiality of information, among others. They can be set up by private individuals, companies, or other entities.

Why You May Need a Lawyer

Establishing a trust in Panama requires extensive knowledge of the country's trust laws, regulations, and practices. A lawyer can help with the drafting of the trust agreement, apprise you of your rights and obligations as a settler or beneficiary, and guide you through the entire process. If the trust involves real estate or business transactions, legal expertise becomes even more crucial. Finally, if there are disputes or claims over a trust, a lawyer can provide you with essential legal representation.

Local Laws Overview

Panama's trusts law supports both revocable and irrevocable trusts. There is no obligation to publicize the trust deed, preserving the privacy of the settlor. All the details concerning the trust fund and its administration are confidential and protected by law. Also, Panama Trusts are not subject to taxation as long as the income comes from foreign sources or the assets are located outside of Panama.

Frequently Asked Questions

Do I have to be a Panamanian resident to form a trust in Panama?

No, residents and non-residents alike can form a trust in Panama. The trust property can also be located anywhere in the world.

Who regulates trusts in Panama?

The Superintendency of Banks regulates the trust business in Panama. Only licensed trust companies are permitted to act as trustee.

Is there a minimum value for a Panamanian trust?

There's no minimum value to set up a trust in Panama. The properties constituting the trust patrimony can be of any value.

Is it required to report the trust to the Panamanian Government?

Only the registered agent of the trust (usually a law firm or trust company) has an obligation to know details of the trust, there’s no obligation to report to the Panamanian government.

Can a trust in Panama be terminated?

Yes, a trust can be dissolved or terminated as specified in the provisions of its trust deed, or upon fulfilment of its purpose.

Additional Resources

Besides consulting with an experienced attorney, valuable information can be obtained from the Superintendency of Banks of Panama, which regulates trusts in the country. The Panamanian Association of Business Executives also provides useful insights on trusts. Panama’s Official Gazette publishes legislation related to trusts in Panama.

Next Steps

If you need legal assistance with a trust, the first step is to identify a reputable lawyer or legal firm which specializes in Panama’s Trust Laws. Prepare a list of questions and concerns you may have regarding your trust. Be ready to provide all necessary information and documents related to your assets, beneficiaries, and objectives of the trust, to make the initial consultation as productive as possible.

Lawzana helps you find the best lawyers and law firms in Panama City through a curated and pre-screened list of qualified legal professionals. Our platform offers rankings and detailed profiles of attorneys and law firms, allowing you to compare based on practice areas, including Trusts, experience, and client feedback. Each profile includes a description of the firm's areas of practice, client reviews, team members and partners, year of establishment, spoken languages, office locations, contact information, social media presence, and any published articles or resources. Most firms on our platform speak English and are experienced in both local and international legal matters. Get a quote from top-rated law firms in Panama City, Panama—quickly, securely, and without unnecessary hassle.

Disclaimer:
The information provided on this page is for general informational purposes only and does not constitute legal advice. While we strive to ensure the accuracy and relevance of the content, legal information may change over time, and interpretations of the law can vary. You should always consult with a qualified legal professional for advice specific to your situation. We disclaim all liability for actions taken or not taken based on the content of this page. If you believe any information is incorrect or outdated, please contact us, and we will review and update it where appropriate.