Confidentiality of Panama's Offshore Private Foundations
The private foundation legislation requests that the resident agent and any other persons or institutions that, because of their functions, obtain information related to the activities, transactions or operations of the private foundation, be obligated to keep strict discretion, even after the foundation has been extinct. Not complying with this regulation could carry a prison penalty for up to six (6) months and a fine of up to $50,000.00.