100 Years Of The Panamanian Trust

• Published date: 14 May 2025
• Law Firm: Icaza Gonzalez-Ruiz & Aleman
• Author: Luis Chalhoub

Panama celebrates a century since the enactment of its first Trust Law, Law No. 9 of January 6, 1925, marking the beginning of a historical journey filled with legal innovation and adaptation. This article examines the four phases that defined its evolution, analyzing its significance within the Panamanian financial and legal context.

History as Analysis and Context

History is more than just a recounting of events; it is a tool to analyze and understand the changes that have shaped our present. In the case of the trust in Panama, this analysis reveals how this legal figure, introduced a century ago, has undergone significant transformations divided into four key phases:

1. Introducing the Anglo-Saxon trust (1925).
2. Redefining the trust (1984).
3. Regulatory deepening (2017).
4. Risk to the trust's integrity (2023).

Introducing the Anglo-Saxon Trust in Panama (1925)

Law 9 of 1925, the brainchild of Dr. Ricardo J. Alfaro, introduced the concept of a trust inspired by the Anglo-Saxon trust into Panama. Alfaro aimed to adapt this instrument...