Monday, December 16, 2013

Whatever happened to offshorelegal.org and panamalaw.org?

We keep receiving queries from people who purchased companies through offshorelegal.org and Panama Legal.  Those are generic names for websites with great SEO reach.

Each Panama corporation is required to have a resident agent.   Under Panama law:
- The Resident Agent must be a Panama lawyer accredited in http://www.organojudicial.gob.pa/abogado/s4abi.php or law firm,
- The law firm must have the name of its partners under the Code of Ethics.

Generic names like Panama law or similar should raise red flags with a prospective buyer of Panama corporations.   If these resident agents have no permanent office, this can be a problem for the shareholder of the company when KYC is needed from the nominee directors when opening bank accounts.   Bank constantly are required to update information they have on corporate shareholders, so a general power of attorney may not be sufficient to comply with bank requirements.

With offshorelegal.org the trail stops with its dissolution.   Previously it listed several cellphone numbers and a toll free Panama number.   No lawyers or names are described in its archived website but the Public Registry shows 2 lawyers as its members.  Their Panama office at OBP is now occupied by a building company.

Ficha:
27627
Fecha Registro:
03-03-2008

Nombre de la Sociedad
PANAMA OFFSHORE LEGAL LAW FIRM.
Título del DignatarioNombre del Dignatario
SOCIOMOISES GEORGE
SOCIOAURELIO ARTURO TALAVERA
Status:
DISUELTA


As nominees they usually list for their corporations, other corporations.  See also http://www.talkgold.com/forum/r284916-.html
Título del DignatarioNombre del Dignatario
PRESIDENTEPRESIDENTIAL OFFSHORE SERVICES, S.A.
TESOREROTREASURY OFFSHORE SERVICES, S.A.
SECRETARIOSECRETARIAL OFFSHORE SERVICES, S.A.


Panamalaw.org does not list any lawyers in its archived website.  It has been linked to a civil partnership called Panama Legal.

Ficha:
24012
Fecha Registro:
26-06-2006

Nombre de la Sociedad
PANAMA LEGAL

The lawyer members are in Torre Delta, the old Bankboston building in Via Espana:

Título del DignatarioNombre del Dignatario
SOCIOGISELA MARTINEZ SAENZ
SOCIOALFREDO MANUEL CARLES BROCE

See also http://www.panamaforum.com/legal-issues/30171-http-www-panamalaw-org-legit.html



1 comment:

Wayne Parker said...

I am looking into finding a corporate lawyer in sacramento. Any help? Thanks