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While Panama historically has been a jurisdiction where bearer shares (equity, not debt bonds) were common, the situation with bearer bonds is more nuanced and subject to regulations aimed at increasing transparency.
Here’s what the search results suggest regarding bearer bonds in Panama in 2025:
* Bearer Bonds Exist, but Regulations are in Place: Panama has had regulations concerning bearer shares for some time, particularly since Law 47 of 2013 and subsequent amendments like Law 18 of 2015. These laws aim to control the use of bearer shares to combat illicit activities.
* Custodial System: Panama introduced an Authorized Share Custodian System. For bearer shares to be legally held, they generally need to be deposited with an authorized custodian (e.g., Panamanian lawyers, licensed banks, trust companies). The owner must provide a sworn declaration of ownership to the custodian.
* Focus on Transparency: The direction of Panamanian regulations is towards greater transparency in corporate ownership. While bearer shares haven’t been entirely eliminated, their use is more controlled.
* Bearer Shares vs. Bearer Bonds: It’s important to distinguish between bearer shares (representing equity in a company) and bearer bonds (representing debt). The search results heavily discuss bearer shares in the context of Panamanian companies. Information specifically about the current availability and issuance of bearer bonds by Panamanian entities in 2025 is less prominent in these results.
* Global Trend Away from Bearer Bonds: As highlighted previously, the global trend is against the issuance of new bearer bonds due to money laundering and tax evasion concerns.
Based on the available information, while Panama has historically allowed bearer shares and has a system for their custody, it is less clear if new bearer bonds are readily available for purchase in 2025.
To determine if bearer bonds are currently available for purchase in Panama, you would likely need to:
* Consult with financial institutions or brokerage firms in Panama: They would have the most up-to-date information on the types of bonds being issued and available to investors.
* Review prospectuses of any Panamanian bond offerings: These documents would specify if the bonds are in bearer or registered form.
* Check with the Panamanian securities regulator: They might have information on the regulations concerning bond issuance and the types permitted.
Given the global shift towards registered securities, it is more probable that any bonds available for purchase in Panama in 2025 would be in registered form to comply with international standards and regulations aimed at financial transparency.

Video courtesy of CSOB

Video courtesy of CSOB