Thread: The need of a registered agent

Hi everyone,

A year ago I set up a hostel in the mountain town of Santa Fé (for those interested, here´s the web page). The lawyer with whom I registered my limited liability company has proven to be unreliable and I have stopped working with him. I have no need for any other lawyer, I file my own taxes and can renew the company myself with help (read: the stamp) of an accountant.

However, recently someone told me that I will still need a registered agent, a lawyer, for my company. Several websites written by lawyers confirm this. Question is:

- Is there a legal requirement for a lawyer/registered agent or are all these lawyers creating an artificial demand for themselves?

Thanks for any help

If the registered agent in the registro publico doesn't send you a bill each year, or have a contract they can show later on, just pay the taxes yourself and ignore them. As long as you are the legal rep for the corp, no problem as far as I see. Changing the registered agent will be expensive.

In other words, you say it is a legal requirement, and as long as my former lawyer doesn´t notice it it´s fine.

But when he does find, do I really need a lawyer, or could it as well be an accountant?

Your lawyer wrote himself into the public registry as your registered agent. He would need to inscribe an updated deed to change this and it would cost him hundreds of dollars + time. You already have one, no need to do anything. Pay your taxes yourself and ignore the attorney. He will never find and never care, most likely, and if he does, then you go to another attorney and update your deed in the public registry.

Legal Requirement for Resident Agent is in:
Law 32 of 1927, Article 2
2001 Supreme Court Agreement
Similar requirements exist in other countries.
In any case, if you cannot afford the expense, just work under a sole proprietorship
Should You Use an Offshore Entity?

I am sure there are thousands of companies in Panama who has a resident agent who is currently dead. No need to do jack unless someone forces your hand. In that case, find an attorney who does not charge the fee.

Originally Posted by FromPanama1

Legal Requirement for Resident Agent is in:
Law 32 of 1927, Article 2
2001 Supreme Court Agreement
Similar requirements exist in other countries.