New Regulations for Panama's Accounting Records: Executive Decree 177 of 2024 - Key Changes for Companies and Resident Agents

The recent changes to Panama's accounting records requirements represent a significant shift towards simplification, particularly for Foreign Legal Entities. A key development is that financial documentation no longer requires CPA certification, and can now be signed by board members, foundation council members, or even the ultimate beneficial owner. This change, introduced by Executive Decree 177/2024, streamlines compliance while maintaining Panama's commitment to international transparency standards