WHAT IS DUE DILIGENCE ?
Panama is a country committed with the best practices in legal and tax matters, prevention of money laundering, tax evasion, financing of terrorism and illegal activities.
Thus, our legal group is committed to carry out the Due Diligence process which includes a comprehensive investigation of the client with the purpose of knowing the nature and origin of his patrimony, in accordance with the local and international legal regulations. In other words, Due Diligence is the set of policies and procedures which allow a full knowledge of the client for establishing his profile, allowing us to lessen the reputational risk, as well as legal controversies that could affect the group or our clients, in the interest of guaranteeing a transparent, legal and safe service.
At ILH - International Legal Hub we understand how important is to respect the confidentiality of our clients, that is why Due Diligence is performed with full discretion, as required by the law, before beginning relations (Agreement 10-2005 issued by the Bank Superintendency of the Republic of Panama; Law 23 of April 27, 2015 of the Republic of Panama).