Due Diligence Documents

What is Due Diligence?

Due Diligence refers to a legal concept that is based on the special care that a person must have before carrying out a commercial operation. It is focused on the meticulous review of financial records and any type of pertinent documents related to a commercial transaction that allow to unequivocally identify the origin of the funds and details that reinforce the transparency of the commercial activity.

The Republic of Panama has been making strong efforts over the last few years to improve the regulations related to the due diligence of Panamanian companies, for which it has been legislating in favor of this end, establishing mechanisms that help prevent money laundering and other illicit activities

Law 23 of April 27, 2015 establishes the regulatory framework so that the supervisory agencies, and entities, natural and legal persons, subject to such supervision, comply with such regulations in order to protect the integrity of the financial system and the Panamanian economy, among other objectives.

Attention to these provisions is vital for successful commercial exercise, both for companies and investors and for their legal advisers.

For this reason, at Central Fiduciaria, S.A., we have designed these Due Diligence Documents for the execution of any contract that our trust executes, with the aim of complying with current regulations and in a clear exercise of favoring fiscal transparency.

These documents are divided into two large blocks: for legal persons and for natural persons. Click on the link for each document to download and complete the related form.

Due diligence documents for legal entities:

Self-certification of tax residence

Self-certification of tax residence of persons who exercise control

Tax affidavit

“KYC -Know your costumer” (legal entity) Form

Activation of fiduciary services

Owner or beneficiary affidavit form

“Know your costumer” (other members of legal entity) Form

Certificate of foreign status of beneficial owner for Unites States Tax Withholding and Reporting (Entities)

Due diligence documents for Natural Persons:

Self-certification of tax residence for natural persons

Tax Affidavit

“KYC – Know your costumer” (Natural person) Form

Activation of fiduciary services

Certificate of foreign status of beneficial owner for Unites States Tax Withholding and Reporting (Individuals)

Request for Taxpayer – Identification Number and Certification