| Introduction - Many of our clients are in need of an | | | | Selling Your Business Using a Panama Escrow ? This is |
| escrow based in Panama to buy or sell an asset. In | | | | a way to easily get business sale proceeds into a |
| Panama unlike other countries, lawyers are not | | | | Panama Corporation or Foundation. Have the |
| allowed to run escrows themselves. The services of | | | | ownership of the business transferred to a Panama |
| a licensed entity able to lawfully open, manage and | | | | Corporation or Foundation before the sale. |
| successfully close an escrow would be used. Panama | | | | Remember the Panama Corporation can be owned |
| Legal Law Firm would be representing you as the | | | | by a Panama Foundation thus removing you from |
| buyer or seller and protect your interests in the | | | | being the owner of the corporation. Under Panama |
| transaction and at close of the process. | | | | Law no one owns a foundation so even though you |
| Sales Contracts - Our law firm can create the | | | | might be a foundation beneficiary or a foundation |
| required sales contracts compliant with the Laws of | | | | protector you are never going to be the owner of a |
| Panama. These contracts re incorporated into the | | | | Panama foundation. You can control the corporation |
| escrow instructions. We follow the escrow every | | | | and foundation through a general power of attorney |
| step of the way to make sure you get what is | | | | and a general management agreement if needed. The |
| agreed upon. | | | | Panama escrow deposits the funds into your Panama |
| Escrow Instructions - We generate full and complete | | | | Bank Account belonging to the Panama Corporation |
| escrow instructions assuring you of a fully protected | | | | or Foundation, which you are not the owner of but |
| position during and after the escrow process. | | | | you do sign on the bank account. A check of |
| Non- Escrowed Asset Sales - This is possible if the | | | | Panama public records would not reveal that the |
| buyer and seller are friendly. Some basic | | | | corporation changed owners. |
| precautionary measures can be taken but it does not | | | | Sale of Non Panama Real Estate - If the non Panama |
| provide the protection of an escrow but there are | | | | Real Estate is owned by a Panama Corporation the |
| some things that can be done if the buyer and seller | | | | sale can be accomplished through an escrow in |
| are cooperative and not on adversarial terms. | | | | Panama. The shares of the stock, which lets one |
| Corporate Owned Assets - In some instances a | | | | control the corporation, would be transferred. This |
| Panama Bearer Share Corporation owns the asset to | | | | would give the buyer control over the assets of the |
| be sold. In such cases one is merely transferring the | | | | corporation, more specifically in this case the real |
| stock in the corporation, which allows the buyer to | | | | estate owned by the corporation. The title of the |
| then control the corporation, and of course in turn | | | | real estate need never change in the other country |
| they get control and/or possession of the asset. | | | | since the same corporation owns the real estate, |
| Foundations and Escrows - A Panama Private | | | | just the ownership of the corporation changes. |
| Interest Foundation can of course buy or sell assets | | | | Ownership of Panama Corporations is not recorded in |
| using an escrow or not using an escrow, as well. A | | | | any registry or database and the government does |
| Panama Foundation is a judicial person and as such | | | | not know who owns the corporations. There is also |
| has the right to own, control, buy or sell its own | | | | no requirement to report changes in ownership to |
| assets which are separate from private individuals | | | | anyone in Panama. |
| assets even though the private individual in question | | | | Sale of Boats and Marine Vessels in Panama - The |
| may be a foundation beneficiary or foundation | | | | same principles apply. The boat is titled to a Panama |
| protector. | | | | Corporation and the shares of the corporation |
| Real Estate Escrows - Most Panama real estate | | | | change hands through the sale with or without an |
| transactions are conducted through the use of an | | | | escrow and the new owner gets control of the |
| escrow. Guarantees of clear title are one component | | | | corporation and all its assets, in this case the boat. |
| of the escrow. We are quite well versed with real | | | | The registration of the boat stays the same since it |
| estate escrow transactions and would be happy to | | | | is still titled to the corporation. |
| take you through the real estate sale or purchase | | | | If you are in need of legal assistance to arrange the |
| experience from start to finish. We do not represent | | | | purchase or sale of an asset in Panama we would be |
| any real estate seller or developers and do not have | | | | glad to assist as your legal representative. Please feel |
| any conflict of interest; we represent you and you | | | | free to inquire. |
| alone. | | | | |