Bearer shares have been around for a long time in Panama and it looks like they will be around for many more years.

After serious threats to its existence, bearer shares will survive thanks to a special regime created by Law 47 of August 6, 2013.

In an analysis piece by Osvaldo Lau C. in Prensa.com regarding the implications of the recently passed Law 47, he writes that “After a long run, bearer shares are to survive thanks to a special regime created by Law 47 of August 6, 2013. Also created was the custodians of the certificates issued to bearers, leaving aside the option to remove them completely from our legislation. ”

“… Bearer share certificates issued before the effective date, must be delivered to an authorized custodian along with an affidavit within three years, as stated in Article 24 (sic).”

“… The deadline for the three years indicated in the previous paragraph, according to the enforcement of the law in question, will expire on August 5, 2018. I do not recall a legal application ever being so long. “

Source: Prensa.com