Companies operating in the Colon Free Zone and other reporting parties must comply with an “Off-Site Evaluation”
Have you completed the Off-Site Evaluation Form? If not, the Ministry of Economy and Finance shall sanction Non-Financial Reporting Parties regulated by Law 23 of April 27, 2015.
In order to avoid the sanction, you must send to the Administration of Supervision and Regulation of Non-Financial Entities of the Ministry of Economy and Finance (firstname.lastname@example.org), the Off-Site Evaluation Form which is the first phase in the supervision process allowing the Government to obtain important information. If said form is not sent, the entity shall be subject to a sanction of Five Thousand Balboas, which corresponds to the sanction established in Law 23 of April 27, 2015.
The purpose of this measure is that Non-Financial Reporting Parties comply with the implementation of policies and procedures addressed to prevent the attainment of illegal activities such as money laundering, financing of terrorism and financing of proliferation of weapons of mass destruction.
Off-Site Evaluation Forms are available at the web page of the Ministry of Economy and Finance: www.mef.gob.pa