Compliance policy

Commitment

Corporación de Asesores Jurídicos complies with the regulations of the Republic of Panama for the prevention of money laundering, the financing of terrorism and the financing of the proliferation of weapons of mass destruction. All this is regulated by the Financial Analysis Authority and the Superintendency of Non-Obligated Holders, to which we report as non-obligated subjects.

Risk-based approach

The firm assesses the risk of each client and each assignment, and adjusts the depth of its controls to that risk. For this reason, we verify all information that reaches our firm, lawyers or, in any way, information that reaches our office.

Getting to know the customer from the start

At the beginning of the relationship, the firm identifies and verifies its clients and their final beneficiaries. Depending on the case, you can request, among others:

• valid identity document and proof of address;
• economic activity or occupation;
• source of funds related to the assignment;
• purpose of the company or foundation being incorporated or administered;
• identity of the final beneficiaries, directors, dignitaries or members of the foundation board;
• information on its tax compliance.

Review in lists and public sources

The firm reviews its clients and final beneficiaries in lists and public sources of the Public Registry of Panama, Ministry of Commerce and Industries, Google, among others.

Enhanced Due Diligence

When the risk is high, the firm applies enhanced due diligence and requests additional information. This applies to cases of politically exposed subjects, high positions, among others.

Full documentation before incorporation

The signature does not proceed with the incorporation of a company if it does not receive the complete documentation requested.

Tracking

The firm periodically reviews its clients' information and updates it when their circumstances change.

Suspicious Transaction Reporting

When appropriate, the firm reports suspicious transactions to the competent authorities of Panama.