1.1 STUDIO PANAMA ITALIA offers residence, citizenship, banking and corporate, corporate products, through companies and companies related to them or in partnership or association or in direct or indirect intermediation. The participating companies and individuals are independent of each other and have no authority over any member, express or implied, to represent, bind or act directly or indirectly as legal, managerial or general agent for any purpose whatsoever , nor to be located in any jurisdiction outside the one in which they are incorporated.

1.2 The name STUDIO PANAMA ITALIA is to be considered a DBA, or Doing Business As not tied to a specific company and a specific company of a given jurisdiction, but representative of the corporate effort to be a global holding company of offshore servants, and includes multiple companies, offshore and onshore, Holdings, fiduciaries, contractors, intermediaries, tax, legal and third party service consultancy firms, both Common Law and Civil Law based companies and includes and will include as agents operating and performing its assignee services on its own behalf and as an agent for STUDIO PANAMA ITALIA Officers (as defined below) and their employees and any company under their direct or indirect control and any of their directors or employees. STUDIO PANAMA ITALIA can therefore operate under many different names, request payment of the service under different corporate and non-corporate names, providing services relevant to the name used and through multiple websites, in the languages ​​that you decide to use for specific market and location niches geographical. STUDIO PANAMA ITALIA operates different services brokerage activities with different names and websites in Italian, different names and websites in English, different names and websites in Spanish, different names and websites in French, different names and websites in Russian and operates consultancy in vivo and has offices in different addresses in the same country depending on the market niche and geolocation and origin of this niche.

1.3 Officials of STUDIO PANAMA ITALIA means any person or company appointed by STUDIO PANAMA ITALIA who may be appointed from time to time as administrator, alternate administrator, secretary, assistant secretary, manager, partner, accountant, fiscal agent, trustee, protector, signatory of the bank, other officer, director, registered agent, registered office or domicile provider or registered shareholder of the Company and of the employees thereof and of any company under their direct or indirect control and of any director or employee thereof (in such expression means each of them). The officials or their collaborators or those who provide contact with customers and consequently the traceability of conversations can be a lawyer, assessor, notary, tax expert and third party service provider of any nationality STUDIO PANAMA ITALIA has an interest in maintaining a professional relationship in its team which allows the services requested by customers to be performed with diligence and knowledge.

1.4 Company means the company, trust, partnership or other structure established and/or managed by STUDIO PANAMA ITALIA at the request of the Owners (as defined below). The following websites are currently part of the corporate chain: residencepanama.com and residenceinparaguay.com .

1.5 Services means the provision by STUDIO PANAMA ITALIA and/or the Managers of STUDIO PANAMA ITALIA of management, administration and other services requested by the Owners or Owner's Representatives (as defined below) or other activities necessary to maintain the Company in good standing, including, if the case requires it, the statutory registers of the country of establishment/constitution of the Company. Services also indicates all the provision of banking and migration products.

1.6 Owners means the beneficial owners or owner of the Company which expression includes, in the case of an individual, their heirs, personal representatives and assigns and, in the case of several persons, such persons jointly and severally and includes the survivor or survivors thereof and their respective heirs, personal representatives.

1.7 Management Agent means a person who may be authorized by all Owners of the Company to send requests to STUDIO PANAMA ITALIA relating to the Company and other services.

1.8 Appointed Owners means any person who is not an Officer of STUDIO PANAMA ITALIA and who may from time to time be appointed or act as Chief Agent, director, alternate director, secretary, assistant secretary, manager, partner, trustee, protector, bank signatory , other officer, power of attorney, director, registered agent, provider of a registered office or address for legal services or registered shareholder of the Company.

1.9 Commercial Terms means these Commercial Terms or any other new Commercial Terms as may be posted on the STUDIO PANAMA ITALIA website from time to time or as Appointed Owners may be notified of from time to time.

1.10 Illegal Activities means all illegal activities which, without prejudice to the generality of the foregoing, include activities relating to terrorism; drug trafficking; money laundry; receive the proceeds of criminal activity or trade with any country which may from time to time be subject to any embargo imposed by the United Nations Security Council, the European Union or the United Kingdom AND the United States. 1.11 Prohibited Persons means persons:

1.11.1 Prohibited by the laws of any country as a minor or incapacitated (for whatever reason) or otherwise ineligible to be a party to a contract.

1.11.2 Who are bankrupt, have not been discharged or are otherwise disqualified from serving as a director or who have been imprisoned or convicted of any offense (other than a motor vehicle offense which carries a non-custodial sentence).

1.11.3 Who has been shown to be acting fraudulently or dishonestly in any civil proceeding.

1.11.4 Who reside in a country subject to any international restrictions or embargoes including, but without prejudice to the generality of the foregoing, those imposed by the United Nations Security Council, the European Union or the United Kingdom and the United States

1.12 Prohibited activities means:

1.12.1 Activities currently not approved by STUDIO PANAMA ITALIA OR THOSE WHO WORK FOR THEM AND OPERATE INTERMEDIATE SERVICES FROM STUDIO PANAMA ITALIA which are activities involving: arms, weapons or ammunition; mercenaries, or indentured soldier; security and riot control equipment such as stun guns, electronic restraints, CS gas or other similar materials, pepper spray or any other device that could lead to human rights abuse or be used for torture; technical surveillance or bugging equipment; industrial espionage; hazardous or potentially hazardous biological, chemical or nuclear materials, including equipment or machinery for the production or handling of such materials and the transportation, handling, disposal or discharge of such materials; human or animal organs; the abuse of animals, genetic material; adoption agencies including surrogacy; the abuse of refugees or human rights; pornography; anti-drug paraphernalia, issuing diplomas or qualifications; the provision of credit cards; pyramid selling, timeshares, religions, cults and charities, money laundering.

1.12.2 Financial activity involving: public solicitation of funds; offer investment advice to the public; the management of investments other than where the assets so managed include the ownership of the Company or the management and administration of undertakings for collective investment.

1.12.3 Unless otherwise agreed in writing, any business relating to the provision of financial services that requires a license in any jurisdiction.

1.12.4 Any activity that could damage the good reputation of STUDIO PANAMA ITALIA, AND ITS ASSOCIATES or the country of establishment/incorporation of the Company.

If the Owners or Designated Owners are or become Prohibited Persons or engage in illegal activities or the Company engages in illegal activities or prohibited activities, STUDIO PANAMA ITALIA may, at its discretion, immediately terminate the Services or take any or all actions authorized in Clause 8.4 of these Terms of Agreement.

3.1 The Owners confirm, undertake, guarantee and condition themselves with STUDIO PANAMA ITALIA and the foreign and domestic officials of STUDIO PANAMA ITALIA AND ITS ASSOCIATES that they are the final beneficial owners of the Company or of the services provided and that they are not and will not act in a fiduciary capacity for any other person, firm or company in relation to the company for the benefit of the services rendered.

3.2 The owners confirm and guarantee that they, and will make sure that the owners in charge:

3.2.1 will comply with these Commercial Terms.

3.2.2 will agree to act if appointed as a Controller and that such Controllers understand their legal duties and obligations.

3.2.3 have made use of adequate tax and legal advice in Italy or their respective country of residence and tax residence and regular business, regarding the establishment and functioning of the Company or the use of the services provided by STUDIO PANAMA ITALIA AND ITS ASSOCIATES

3.2.4 agree that STUDIO PANAMA ITALIA E ASSOCIATI and the Officers of STUDIO PANAMA ITALIA E ASSOCIATI may (but shall in no event be obligated) to rely on communications received from the Owners or the Managing Agent to determine what steps need to be taken in the administration of the Company and in the provision of the Services.

The Owners (for themselves and on behalf of the Appointed Owners) engage with STUDIO PANAMA ITALIA and the Officers of STUDIO PANAMA ITALIA ED ASSOCIATI and with the Company and, if applicable, will cause the Company to engage with STUDIO PANAMA ITALY and STUDIO PANAMA ITALIA Officials who at all times INDEMNIFY and WILL KEEP INDEMNIZED STUDIO PANAMA ITALIA and STUDIO PANAMA ITALIA Officials and their ASSOCIATES:

4.1 against all actions, suits, proceedings, claims, demands, costs, expenses and liabilities which may arise or occur or be brought, commenced, initiated or required by or against STUDIO PANAMA ITALIA or STUDIO PANAMA ITALIA's Officers relating to or arising out of use or actions of the Company or the provision of the Services;

4.2 in relation to anything done or omitted by STUDIO PANAMA ITALIA or the Officers of STUDIO PANAMA ITALIA, provided that this provision does not apply to any liability for death or personal injury resulting from the negligence of STUDIO PANAMA ITALIA or the Officers of STUDIO PANAMA ITALIA or to any liability deriving from the result of fraud by STUDIO PANAMA ITALIA or the Officials of STUDIO PANAMA ITALIA;

4.3 in relation to any failure by STUDIO PANAMA ITALIA and the Officers of STUDIO PANAMA ITALIA, in whole or in part, with any instruction or request made by the Owners, the Owner's Representatives or the Company and that STUDIO PANAMA ITALIA and the Officers of STUDIO PANAMA ITALIA will not be responsible for the non-receipt of the same or for any errors or ambiguities contained therein;

4.4 in respect of any loss or damage arising from the use of faxes or emails, including the use of unencrypted emails, failed or incomplete transmission, distortion and loss of privacy whether caused by viruses or otherwise;

4.5 in connection with any penalties, fines, fees or other liabilities incurred by the Owners and/or the Business Owners and/or the Company in connection with the Company and/or the Services.

STUDIO PANAMA ITALIA and the Officers of STUDIO PANAMA ITALIA AND THEIR ASSOCIATED NATIONAL AND FOREIGN COMPANIES AND THIRD PARTIES INCLUDING INTERMEDIARIES ON BEHALF OF STUDIO PANAMA ITALIA expressly decline any liability towards the Owners, Appointed Owners, the Company and third parties for any damage or loss to Owners, Business Owners, Company or any other person arising out of the acquisition or operation of Company and/or the Services by Owners, Business Owners, Company or any other person.

6.1 Owners must give STUDIO PANAMA ITALIA E LORO ASSOCIATI tutti 90 days written notice of their intention to discontinue the Services. After this term, the service will be maintained and honored and if not honored within the terms, will be subject to a fine of 100 USD per day for each day of late payment.

6.2 Owners must obtain written consent from STUDIO PANAMA ITALIA before seeking to change beneficial ownership of the Company or appoint new Owner Representatives and such requests must be accompanied by details of any such proposed changes or appointments which are without prejudice to the generality of the provisions. above includes a certified copy of the passport and proof of residential address of such persons and STUDIO PANAMA ITALIA reserves the right to request further information relating to such proposed changes and to refuse to accept such requests.

6.3 Owners shall and must ensure that Owner's Representatives:

6.3.1 UNDERTAKE to immediately inform STUDIO PANAMA ITALIA of any matter that could affect the willingness or ability of the Company and/or STUDIO PANAMA ITALIA to provide or continue to provide the Services.

6.3.2 Inform STUDIO PANAMA ITALIA of the nature of the Company's activities and seek the consent of STUDIO PANAMA ITALIA in writing before making substantial changes to such activities.

6.3.3 Request written consent from STUDIO PANAMA ITALIA before posting any advertisement or public announcement relating to a Company or any activity that may be undertaken by it.

6.3.4 guarantee at all times the due payment and reimbursement to STUDIO PANAMA ITALIA of all commissions, disbursements and expenses incurred by STUDIO PANAMA ITALIA in relation to the Company and the provision of the Service

When STUDIO PANAMA ITALIA supplies Officers of STUDIO PANAMA ITALIA

7.1 If STUDIO PANAMA ITALIA supplies STUDIO PANAMA ITALIA officials or associated third parties and intermediaries also in other locations, the owners must, at all times, maintain the Company with sufficient funds to discharge its liabilities as and when they become due and upon STUDIO PANAMA's request ITALY AND ASSOCIATES

7.2 If STUDIO PANAMA ITALIA supplies Officers of STUDIO PANAMA ITALIA and its associates or third party intermediaries, the Owners shall and shall ensure that the Appointed Owners shall:

7.2.1 Immediately inform STUDIO PANAMA ITALIA of any matter that may affect the Company or any matter relevant to the management or business of the Company.

7.2.2 Upon request by STUDIO PANAMA ITALIA or the Managers of STUDIO PANAMA ITALIA, immediately provide all the information requested by STUDIO PANAMA ITALIA to assist STUDIO PANAMA ITALIA in preparing the Company's financial statements.

7.2.3 Upon request by STUDIO PANAMA ITALIA or the Officials of STUDIO PANAMA ITALIA, disclose to STUDIO PANAMA ITALIA or the Officials of STUDIO PANAMA ITALIA any and all information relating to any corporate asset, transaction or activity of the Company.

7.2.4 Request written consent from STUDIO PANAMA ITALIA before attempting to alienate, assign, sell, pledge or otherwise dispose of or encumber the interests of the Owners or Proprietors in the Company or any portion thereof. STUDIO PANAMA ITALIA reserves the right to request further information regarding these proposed changes and to refuse to accept such requests and to prosecute anyone who contravenes these rules, including at an international level through its network of associated studios around the world.

7.2.5 Where Appointed Holders hold a power of attorney from the Company, they act in the utmost good faith towards the Company, maintain accurate records, disclose to the Company in writing all relevant facts relating to potential conflicts of interest with the Company and the Officials of STUDIO PANAMA ITALIA and their ASSOCIATES and inform the Company and the Officials of STUDIO PANAMA ITALIA in writing whenever a power is exercised and the details of such acts and must acknowledge that if the Company is fraudulently induced to execute a power of attorney or any assignees act illegally or in bad FRAUDULENT MANAGEMENT trusting that any transactions to the benefit of such assignees can be reversed, such assignees will be held liable in compensation to the grantor.

8.1 The Owners, Appointed Owners and the Company undertake to provide all requests to STUDIO PANAMA ITALIA and to the Officers of STUDIO PANAMA ITALIA and their ASSOCIATES AND ASSOCIATES, THIRD PARTIES AND NATIONAL AND INTERNATIONAL PHYSICAL AND CORPORATE INTERMEDIARIES, in writing via email and STUDIO PANAMA ITALIA will consider such requests only if they are signed by all the Owners or by the Managing Agent With a valid and annotated document affixed.

8.2 The Owners acknowledge that STUDIO PANAMA ITALIA is bound by regulatory and other obligations under the laws and regulations of the jurisdiction in which the Services are provided and of the jurisdiction of incorporation / opening of the Company or of provision of banking, fiduciary, and migration and agree that any action taken by STUDIO PANAMA ITALIA or by the Officers of STUDIO PANAMA ITALIA and their NATIONAL AND INTERNATIONAL ASSOCIATES AND NATIONAL AND INTERNATIONAL PHYSICAL AND CORPORATE INTERMEDIARIES to comply with such laws or regulations will not constitute a violation of the obligations of STUDIO PANAMA ITALIA AND ASSOCIATES AND THEIR INTERMEDIARIES ALL hereinafter.

8.3 STUDIO PANAMA ITALIA and the Officers of STUDIO PANAMA ITALIA E ASSOCIATI will in no case be required to take any action which they consider unlawful or improper or which may induce STUDIO PANAMA ITALIA or any of the Officers of STUDIO PANAMA ITALIA E ASSOCIATI to incur any personal liability and the Owners, Designated Owners and Company agree that STUDIO PANAMA ITALIA E ASSOCIATI shall not be liable to them for any refusal to take such action.

8.4 Where permitted by these Terms of Business or if instructions are requested by STUDIO PANAMA ITALIA E ASSOCIATI or by the Officers of STUDIO PANAMA ITALIA E ASSOCIATI and STUDIO PANAMA ITALIA E ASSOCIATI has not received instructions within 30 days, or if the urgency of the matter requires a action within a shorter period as indicated in the request, STUDIO PANAMA ITALIA or the Officers of STUDIO PANAMA ITALIA E ASSOCIATI may immediately and without any liability to the Owner, the Appointed Owners or the Company or requesting any service for sale or sold, not undertake further action on a particular issue; o not take any further action against the Services Company and/or the Owners and/or the Appointed Owners; or take any other action which in their absolute discretion it deems appropriate or which may be advised by its legal advisers, terminate the business relationship with the customer, seek the payment of compensation and fines privately worked out against the customer, fail to process further products, terminate early and without reimbursement of any existing or previously paid services or and disclose the information of the client(s) to the competent authorities and bring criminal proceedings against them in courts including internationally. The Owners irrevocably agree and agree that, if the Company is a company of which the STUDIO PANAMA ITALIA e ASSOCIATI Officers are directors or managers of such company, or the Company is a partnership and the STUDIO PANAMA ITALIA E ASSOCIATI Officers are members or managers of such company, or the Company is a trust and the Officers of STUDIO PANAMA ITALIA E ASSOCIATI EVEN THIRD PARTIES are trustees or protectors of such trust, STUDIO PANAMA ITALIA or the Officers of STUDIO PANAMA ITALIA E ASSOCIATI may, without further notice to the Owners, adopt the such measures as they in their absolute discretion deem appropriate which, without prejudice to the generality of the foregoing, include the cancellation, dissolution or liquidation of the Company; o effecting the resignation of all or some of the Officers of STUDIO PANAMA ITALIA; o transfer all or part of the shares, capital or interests of the Company in the name of the Owners; o appoint Owners as a director, officer, trustee or protector of the Company; or take any other action as they in their absolute discretion deem appropriate or as may be advised by its legal advisers.

9.1 Ownership of a Company will not pass to the Owners until STUDIO PANAMA ITALIA has received full payment, there are no refunds after an order has been processed and no refunds will be made in the event STUDIO PANAMA ITALIA stops providing the Services .

9.2 STUDIO PANAMA ITALIA will not provide Services unless STUDIO PANAMA ITALIA THROUGH ITS COMPANY PAYMASTER SHEVAT CONSULTING OR ANY OTHER COMPANY NAMED AT THE TIME TO RECEIVE PAYMENTS has received in full and in advance all fees and disbursements due in relation to the Company or to the provision of the Services offered by the company STUDIO PANAMA ITALIA through its website

9.3 The Owners irrevocably authorize STUDIO PANAMA ITALIA to withdraw monies from any fund held by it on behalf of, or to any account managed by it, on behalf of the Owners and/or the Company in order to discharge all fees and expenses payable to or from STUDIO PANAMA ITALIA or by the Company.

9.4 If STUDIO PANAMA ITALIA ceases to provide Services or if the Owners inform STUDIO PANAMA ITALIA that they no longer need a Company, the Company or the Owners must reimburse STUDIO PANAMA ITALIA for any fees or costs that may be incurred and pay STUDIO PANAMA's fees ITALIA AND ITS ASSOCIATES in relation to the cancellation, dissolution, liquidation or transfer of the Company or change of migration service or other service sold or in any case to replace STUDIO PANAMA ITALIA or STUDIO PANAMA ITALIA Officials

9.5 The rates are those indicated in the STUDIO PANAMA ITALIA Price List, as published from time to time, or as may be agreed upon with the Owner. Any changes will be published on the STUDIO PANAMA ITALIA website, or notified to the Owner from time to time.

9.6 Where any fees for the Services remain unpaid for more than 60 days, STUDIO PANAMA ITALIA and the Officers of STUDIO PANAMA ITALIA AND SHEVAT CONSULTING LLC OR OTHER ASSOCIATES may, at their discretion, immediately terminate the Services and/or obtain direct payment from any assets of the Company and/or the Owners and in such circumstances STUDIO PANAMA ITALIA reserves the right to consider these Terms and Conditions terminated without further obligations and to act in accordance with clause 8.4 of these Terms and Conditions.

9.7 Unless otherwise agreed in writing with the Owners, STUDIO PANAMA ITALIA will not pay any interest on money held by STUDIO PANAMA ITALIA for the benefit of the Company and/or the Owners and/or the Owners' Representatives.

9.8 STUDIO PANAMA ITALIA and its related companies and their officers, agents and employees have the right to withhold any commission or fee which is paid or which may be payable to it notwithstanding that such commission or fee is payable as a direct or indirect result of STUDIO PANAMA ITALIA or of third party appointees connected to STUDIO PANAMA ITALIA E ASSOCIATI who act on behalf of the Owners and/or Owners' Appointees.

9.9 In the event that the Owner requests STUDIO PANAMA ITALIA E ASSOCIATI to transfer the management of the Company or a service sold on the website to another agent or provider of corporate and migration and banking services, STUDIO PANAMA ITALIA E ASSOCIATI will not transfer the Company or services until all outstanding fees (including government taxes, duties, fees and other third party disbursements and professional and transfer service) have been paid in full.

10.1 Before requesting the provision of any Services by the Agent, the Intermediary must obtain the following Due Diligence Information on the Client and on all individuals and entities directly involved in the Company such as shareholders, directors, account holders, attorneys or in any other similar capacity, unless such individuals or entities are already known to the Agent: A current photocopy of your passport, certified as a true copy by a notary, solicitor, solicitor, consular officer, bank officer or other individual of a similar official position. This photocopy must include the holder's signature page and must be made in such a quality that the face of the passport holder can be clearly identified. Upon expiry of this passport, the Intermediary will obtain a similar copy of the new and valid passport.

10.2 Before any Services are provided by the Agent, the Intermediary will or will not provide the Agent with an Order Form and a complete set of ordinary copies of the Due Diligence Information, as described above, such copies to be sent to the Agent with any means of communication, except fax. If specifically requested by the Agent, the Intermediary will provide the Agent with further details of the Client's background and activities.

10.3 In addition to the Due Diligence Information, the Intermediary must always keep the Clients' contact details up-to-date, including residential and postal addresses, telephone and fax numbers and e-mail addresses.

10.4 If the Client is a company or group of related companies (for example, related by mutual interests), the Agent shall obtain Due Diligence Information on all private individuals who are the ultimate beneficiaries of such group of related companies. This condition does not apply if such Corporate Client is a public limited company.

10.5 The Intermediary must keep the Due Diligence Information for at least five years from the date of termination of the business relationship between the Intermediary and the Client.

10.6 If the Agent is required by law at any time to possess the original Due Diligence Information, the Intermediary shall provide all such documents, as requested by the Agent, within five working days of receipt of such request. The Intermediary hereby confirms that there are no obstacles or limitations, in particular imposed by any confidentiality rules, which prevent the Intermediary from releasing such documents to the Agent.

10.7 The Intermediary will not provide any of the Services to third parties even knowing that these are intended for subsequent resale without imposing the same Due Diligence requirements indicated above on these third parties.

10.8 Before any Services are provided by the Agent to the Intermediary, the Intermediary will provide the Agent with the original Due Diligence Information on the Intermediary. Such Due Diligence Information need only be provided once at the inception of the business relationship between the Agent and the Intermediary, and need to be updated thereafter only from time to time to reflect any material changes in the organization of the Intermediary, depending on the case.

10.9 Further related information can be found in the separate notice on this website, namely “AML Policy and KYC Requirements “Know Your Customer””

10.10. Any service from the corporate, migration, banking, financial, corporate is provided on evidence of the correctness and clarity of the information obtained from the client and that such information is the sole duty of the client to issue within 30 days of payment of the service, under penalty of cancellation of the service without reimbursement."

When STUDIO PANAMA ITALIA supplies officials of STUDIO PANAMA ITALIA, STUDIO PANAMA ITALIA and the officials of STUDIO PANAMA ITALIA have the right to undertake any measures which, in their absolute discretion, they deem appropriate to protect the interests and/or assets of the Company and the companies associated with them associated or to which they refer and to undertake such professional advice in the interest and at the expense of the Company as STUDIO PANAMA ITALIA or the Officials of STUDIO PANAMA ITALIA may deem necessary.

13.1 STUDIO PANAMA ITALIA and the Persons in charge of STUDIO PANAMA ITALIA have the right without notice to cease the provision of the Services, if:

13.1.1 The Owners or Appointed Owners do not comply with these General Conditions;

13.1.2 Becomes aware of STUDIO PANAMA ITALIA or the Managers of STUDIO PANAMA ITALIA that the Company OR THE Service is used for activities that have not been included in the request form provided by the Owners to STUDIO PANAMA ITALIA or as subsequently advised and accepted in writing by STUDIO PANAMA ITALY;

13.1.3 In the event of the death of any Data Controller or Data Controller, the Data Controllers do not provide STUDIO PANAMA ITALIA, within a reasonable time, with the name of a suitable replacement;

13.1.4 In the event of the death of an Owner, including in the case of joint persons acting as Owners, the death of any such person, the Owners shall not dispose of the business and the Property of the Company;

13.1.5 When STUDIO PANAMA ITALIA supplies officers of STUDIO PANAMA ITALIA, any of the officers of STUDIO PANAMA ITALIA resign or in the event that legal proceedings are instituted against the Company (including any injunctive relief or investigative proceeding).

13.2 In any of the circumstances described in Clauses 12. AND 13. above, STUDIO PANAMA ITALIA reserves the right to act as authorized in Clause 8.4 of these Commercial Terms and reserves the right to treat these Commercial Terms as terminated automatically without any obligation on the part of STUDIO PANAMA ITALIA

13.3 STUDIO PANAMA ITALIA may cease to provide Services at its discretion if it provides 24 hours notice to the Owners or the Management Agent of its intention to do so.

13.4 The Company, the Owners and the Owners' Appointees acknowledge that STUDIO PANAMA ITALIA and STUDIO PANAMA ITALIA's Appointees may have ongoing regulatory/fiduciary duties under applicable law. Consequently, without prejudice to the rights of STUDIO PANAMA ITALIA and the STUDIO PANAMA ITALIA Officials, it is agreed that STUDIO PANAMA ITALIA and the STUDIO PANAMA ITALIA Officials will have the right (but not the obligation) to continue to provide the Services in order to fulfill such duties and STUDIO PANAMA ITALIA will have the right to charge at its applicable rate for the supply thereof.

In offering and providing the Company and/or the Services, STUDIO PANAMA ITALIA and the Officers of STUDIO PANAMA ITALIA do not, nor should they be construed as in any way sanctioning, defending or condoning directly or indirectly the commission of any unlawful act or omission by part of any person or company in any jurisdiction or the use of the Company or the Services for any illegal or fraudulent purpose.

Any communication, given by the Owners, Owner's Appointees, the Company, the Managing Agent, STUDIO PANAMA ITALIA or STUDIO PANAMA ITALIA's Officers, which is personally delivered, will be deemed to have been given at the time of such delivery; sent by post TO SWITZERLAND, USA , PANAMA ,PARAGUAY OR UK, it is considered legally delivered 3 days after posting; sent by courier is considered delivered 7 days after shipment, sent by airmail is considered delivered 9 days after shipment;

16.1 These Terms and Conditions supersede all previous Terms and Conditions and agreements both oral and written in relation to this subject matter.

16.2 No exercise or failure to exercise or delay in exercising any right or remedy conferred on any party under these Terms of Business shall constitute a waiver by such party of that or any other right or remedy.

These Commercial Terms will be governed by and interpreted in accordance with the laws of all jurisdictions in which it operates legally and the dynamics will be taken into consideration on a case-by-case basis and, where appropriate, will ensure that the Company irrevocably submits to the jurisdiction exclusive rights of the courts in Panama, USA, or any other jurisdiction.

STUDIO PANAMA ITALIA has always acknowledged its responsibilities towards its staff, its clients and its professional colleagues. These responsibilities extend to international regulators, group shareholders and the wider community and especially the environment.

We are a professionally, responsibly and ethically managed company determined to be widely recognized for our “Excellence in Global Business Services”, the expertise of the multidisciplinary and multilingual professionals we work with and the seriousness with which each and every one of us is aware and assumes its corporate responsibilities.

STUDIO PANAMA ITALIA is proud of the role we play as one of the leaders in the global delivery of business and migration services to the international community and, as part of this role, we recognize our specific responsibility to understand the concerns of others.

Our aim through this website is to provide information and demonstrate that the group is both a responsible corporate entity and a responsible global provider of professional services.

Any changes we may make to this policy in the future will be published on this website. The changes will take effect immediately and will be binding on you from the moment of publication regardless of the date of delivery of the requested and/or paid service.

By accessing the Site you acknowledge and accept these Terms and Conditions of Use and are bound by the Agreement. If you do not agree with these Terms and Conditions of Use, we kindly ask you not to access or use this website. If you do not confirm that you are bound by the Agreement, do not use our services. If you are under the age of 18, you confirm that you have permission from your parent or legal guardian to use this website. If you are under the age of 18, please do not use this site under any circumstances. Remember that if you do not understand the terms described here, contact a specialized lawyer and get back to us through an intermediary law firm at your service.

Violations of these Terms and Conditions of Use may result in termination of your account with or without notice or under the terms set out above.

The section titles in these Terms of Service are for convenience only and have no legal or contractual effect unless proved otherwise by us. These Terms of Service and your account with us or on the Website are personal to you and may not be transferred or assigned to any third party.

Responsibility for acceptance of the terms In order to always and in any case proceed without any opposition and in a transparent form to the provision or reading of the website, the user accepts this mandate of specific additional responsibility

YOU ACKNOWLEDGE AND AGREE THAT THE WEBSITE; ITS OWNERS, ADMINISTRATORS, EMPLOYEES AND AFFILIATES, END USERS, END BENEFICIARIES, WHETHER UBO OR OTHER LEGAL FORM, CREATORS AND DEVELOPERS, WEB MASTERS, WEB ENGINEERS, WEB DEVELOPERS, DNS ADMINISTRATOR AND HOSTING, DEVELOPMENT PLATFORM AND SEARCH ENGINE WHERE IT IS ENCOUNTERED WITH AND USED BY, IN NO EVENT WILL THEY BE LIABLE FOR ANY LOSS OR DAMAGE IN CONNECTION WITH THE WEBSITES, DIRECTLY OR INDIRECTLY, OR THROUGH THE USE OF ANY PRODUCTS OR SERVICES SOLD IN CONNECTION WITH THE WEBSITES OR INABILITY TO UNDERSTAND THE INFORMATION CONTAINED THEREIN.