Seven years after the Panama Papers, the country sees a dramatic decrease in corporate registrations
This article is a summary of reporting by ICIJ. Originally published May 23, 2023.
A Bloomberg Línea analysis of Panama's public registry revealed a 63% decline in the registration of anonymous corporations (sociedades anónimas) between 2012 and 2022. Simultaneously, company dissolutions increased dramatically from seven in 2013 to over 5,500 in 2022. Local legal experts attributed the drop to severe reputational fallout from the 2016 Mossack Fonseca leak and mounting pressure from the Financial Action Task Force (FATF) to enforce ultimate beneficial ownership rules.
AI Summary
Registrations of anonymous corporate vehicles in Panama have plunged by over 60% in the decade following the Panama Papers leaks.
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