Commercial Proceedings

What do I have to do to sell my vehicle?

First you need go to the Municipality where your car is registered and get a transfer card. After than the seller and buyer have to go to the notary’s office with their respective identification documents. The identification documents must be valid and the signature on the transfer card must be the same as in the identification documents.

I want to sell a property. Do I need to get a public inscription?

Yes, in order to transfer the properly you have to bring the trading contract signed properly with the copy of the seller and buyer’s identification document, who have to go to the notary’s office. In case of Anonymous Societies properly authorized to make the transaction. The Trading Contract will be lifted to public inscription in the Panama Public Registry for its qualification and inscription.    

It is important to mention that you need to present the payment slip of the 2% transfer tax and the earning tax corresponding to the 3%. Both are calculated over the sell value.  

Additionally, you have to add the certificate of good standing debt of the estate issued by the General Income and Good Standing Debt Direction issued by the IDAAN. If the property on sale is an apartment or an apartment building, you have to provide the certificate of good standing debt issued by the administration of the building.

I started a company. What documents do I need?

Every anonymous society must have a stock book and a records book. At the First Notary Public of the Civil Circuit of Panama, you can do the opening of the stocks book and records books. Both books are required by the law for the operation of the company.