Our expertise and operational processes allow us to structure tailor-made trusts for each client and/or transaction.


Meet the legal team of professionals behind Icaza Trust Corporation.


To be Panama’s premier Trust Company, capable of providing clients the tools to structure commercial trusts, and assisting HNWIs and families in the succession of their patrimonies for generations to come.


Icaza Trust Corporation strives to guide estate planning clients to achieve well-structured corporate governments within their family businesses and an organized succession that contemplates tax efficiency and wealth preservation. We are also committed to implement and manage guaranty structures governed by the applicable contractual framework to meet the needs of creditors and debtors.


We are leaders in estate planning trusts of all types including discretionary, non-discretionary, and purpose trusts, and in business trusts, including guaranty, management, source of payment, real estate development, investment, and credit trusts.

Our Services

Legislation on Trust

Definition of trust
A juridical act through which a person, named the Trustor, transfers assets or rights to a person, named the Trustee, who undertakes to administer or dispose of these assets to fulfill a purpose determined by the trustor. The objective of the trust may be in favor of a beneficiary, who may be the trustor itself or in favor of a purpose determined by the trustor.
Trust services in Panama can be provided by entities authorized by the Panamanian Superintendency of Banks or by state-owned banks.
Discretionary Trusts
refers to Trusts in which the Trustee has discretion regarding the administrative and dipositive provisions of the Trust. Under discretionary trusts, distribution of capital and income arising from the trust patrimony in favor of the Beneficiaries is at the discretion of the Trustee. This means that no beneficiary is entitled to call on the Trustee to distribute capital or income arising from the trust patrimony.
Generally, a discretionary trust establishes a class of beneficiaries, and indicates sufficient elements to identify the members of the class. Power is generally conferred on the trustees to appoint beneficiaries of the established class or to remove of exclude individuals as beneficiaries.
It is common that, due to the extent of the broad discretional powers of administration and disposal of the trust patrimony, the Trustor provides the Trustee with a non-binding “Letter of Wishes” setting out his wishes on matters such as distributions, and the investment of the trust patrimony. The Trustee must consider the Trustor´s wishes in order to abide by them provided that they are reasonable and feasible in the prevailing circumstances.
Fixed Trusts
Refers to Trusts where the Beneficiaries and their substitutes as well as the rules for the disposition of the trust patrimony are set forth in the trust instrument. It is important to take into account that a trust may be a hybrid between a fixed trust and a discretionary trust.
Special Purpose Trusts
It refers to a trust created to meet a determined purpose. The object for which the trust is established must be clear so that under all circumstances be possible to state with certainty whether a proposed use or destination of the trust assets is within the purpose of the trust.
Rights of the Trustor, Protector, or other Supervisory Body
Under Panamanian Law, The Trustor, Protector, or any other body established in the Trust instrument may have any rights, obligations or other responsibilities set forth in the Trust instrument.






We participate in transactions covering all sectors of the national and international economy.

Including the financial, renewable energy, construction, industrial and commercial sectors.