I like social, environmental or community activities and I wish to create an organization. What do I have to do?
In Panama, Non-Governmental Organizations is the figure used. It is regulated by the Government Ministry and the documents that have been properly approved by the Government Ministry must be lifted to public inscription. This includes the constitutive act of the Association and statutes. Similarly, every time the board of trustees or representatives of an association changes, these changes must be lifted to public inscription for their inscription in the Panama Public Registry. At the First Notary we have vast experience in the lifting of associations and non-profit foundations scriptures.
How do I collate my assets and properties?
In Panama, the image of the Private Interest Foundation serves as an assets protection mechanism and it is very utilized to put into custody or goods administration, bank accounts or patrimonies in general. The First Notary of the Panama Circuit has developed a solid relation with Law Firms and particular lawyers, providing support in the elaboration of their scriptures. Quality work, efficiency and speed.
What is a declaration of improvement?
It is communication done by the owner of a land over the construction or edification on his or her property. In other words, every land owner who builds on his or her land has to communicate it to the authorities. This communication must indicate the value of the improvements. In the same manner, when the sale of property is done, the breakdown of the value of the sale must be included in the scriptures, pointing out the corresponding amount of the improvements and the other about the value of the land.
Declaration of patrimonial goods, who has to do it?
Mainly all the workers of nationwide hierarchy who work for the State. This declaration must indicate all patrimonies and economic activities. The declaration is done at the beginning and ending of your service in the government.
I finished paying my mortgage, what do I have to do?
You have to proceed to elaborate a scripture called Cancellation of Mortgage. The cancellation is done in coordination with the bank, entity that will indicate that there is no pending balance and therefore, the property is free of any existing mortgage restrictions.
Notaría Primera del Circuito de Panamá 