Appointing a CPA in Panama: A key requirement for fintech, Web3, and crypto business models

In Panama, companies with business models in fintech, Web3, and crypto that incorporate locally face specific regulatory requirements. One of the most important and least understood is the appointment of a Panamanian Certified Public Accountant (CPA) as a related third party with the General Directorate of Revenue (DGI).

This requirement is not a simple administrative procedure. It entails legal and tax responsibilities that can directly impact the company's operations and reputation.

What is a CPA as a “linked third party” and why is it mandatory?

The "linked third party" is a Panamanian CPA officially registered as the company's accounting representative with the DGI. Their duties include:

• Certify financial statements and tax returns.

• Validate the accounting information submitted to the tax authorities.

• Support compliance with tax obligations under Panamanian law.

  
  

For foreign companies or startups in the process of incorporation, this appointment is a requirement for their tax registration, in addition to avoiding penalties for incomplete profiles.

Importance for fintech, Web3 and crypto business models

In business models that handle international transactions, cryptoassets, or blockchain infrastructure, the role of the local CPA is even more strategic:

• Implementation of accounting adapted to operations with digital assets.

• Alignment with international standards for financial reporting.

• Prevention of regulatory risks and sanctions for tax non-compliance.

  
  

Additionally, a CPA specialized in the sector can optimize processes and help the company simultaneously comply with local and international regulations.

Ready to meet the requirement and optimize your tax structure from day one?