Single and Private Registry of Final Beneficiaries of Legal Entities in Panama: Transparency and Fight against Money Laundering

Pursuant to Law 129 of 2020 and Executive Decree No. 13 of 2022, the Single and Private Registry of Final Beneficiaries of Legal Entities (known by the Spanish acronym of RUBF) was created, as a tool that promotes transparency in the financial system, prevents money laundering, fights against terrorist financing and strengthens the integrity of the business system of the country.

The resident agents are required to register in the RUBF and to provide the following information:

• Data of the legal entity; and
• Data of the final beneficiaries.

The law designates the Superintendency of Non-Financial Subjects, as the governmental entity responsible for the administration and custody of the RUBF.