Icaza, González-Ruiz & Alemán names Alfredo Fonseca Zauner its newest partner

Alfredo Fonseca Zauner – New partner of Icaza, González-Ruiz & Alemán


Alfredo FonsecaIcaza, González-Ruiz & Alemán is pleased to announce the appointment of Alfredo Fonseca Zauner as a new partner of the firm.


Our new partner has fifteen years of experience and specializes in the areas of Banking and Finance, Energy and Infrastructure.


He obtained his undergraduate degree in Law and Political Science from Universidad Santa María La Antigua and later obtained a Master of Laws degree from King’s College London (London, United Kingdom). He continued his studies with a Master in Business Administration (International MBA) from IE Business School (Madrid, Spain) and a Specialization in Electricity and Gas Regulation from Universidad Externado de Colombia (Bogotá, Colombia).


He is currently a member of the Panama Bar Association and the American Chamber of Commerce and Industries of Panama (AMCHAM), where he participates in the Energy and Legislation and Tax committees.


The promotion of our new partner reflects the firm’s commitment to the development and advancement of lawyers who have played a pivotal role in our growth and who are dedicated to promoting and protecting the interests of our clients and the firm’s values.


We congratulate Alfredo and wish him success in this new professional stage.


Panama opens process to obtain manufacturing license for medical cannabis derivatives

Opening of the call process for companies interested in obtaining a license to manufacture medical cannabis derivatives


The Ministry of Health (MINSA), through the National Directorate of Pharmacy and Drugs, invites applicants to participate in the selection process of companies interested in obtaining the License to Manufacture Medicinal Cannabis Derivatives.


Companies interested in participating can download the rules of the call on the MINSA website, which include the requirements that applicants must meet to be considered in the selection process.


According to the schedule for submitting proposals and their qualification, a meeting will be held on June 19 to standardize the bases for the selection and until August 29, consultations will be received and clarifications will be made. The last day to receive applications is September 18, 2023 at 4:00 pm.


It is important to remember that according to Law 242 of October 13, 2021, only seven companies that meet all the requirements will be able to carry out the entire production chain from planting, controlled environment, harvest, drying, to dispensing.


The process is governed by Law 242 of October 13, 2021, and Executive Decree No. 121 of September 1, 2022, as well as Law 1 of 2022, Law 14 of 2016 and its due regulations and other regulations applicable to the selection process.


For assistance related to this call process, contact us at

Download the rules of the call for proposal


Icaza, González-Ruiz & Alemán (BVI) Trust Limited, sponsor at STEP Caribbean Conference 2023

Icaza, González-Ruiz & Alemán (BVI) Trust Limited, sponsor at the STEP Caribbean Conference 2023


Icaza BVI Trust was a sponsor at this year’s STEP Caribbean Conference, which was held from 10-12 May in Panama City. The event focused on Intrapreneurship – driving change in an uncertain world, and gathered trust and estate planning professionals from the Caribbean and Central America.
Our partner Joaquin Díaz, associates Domingo Díaz de la Guardia, Luis Martinez, and Marketing Director Zared Tempro participated in the event on behalf of the Icaza Law Group.


Icaza, González-Ruiz & Alemán advised Aeropuerto Internacional de Tocumen S.A.

Icaza, González-Ruiz & Alemán advised Tocumen International Airport in the negotiation process of the list of complaints and petitions filed by the Union of Airport workers.


Recently, Icaza, Gonzalez Ruiz y Aleman advised and accompanied AEROPUERTO INTERNACIONAL DE TOCUMEN, S.A. in the process of negotiation of the Complaints and Petitions for alleged violations of the law and the collective bargaining agreement, filed by the Union of Airport Workers of Panama (UTAP) against this company.


The twenty-one claims or points of conflict were solved and resolved in a timely manner, that is, before the start date of the strike that had been declared by this union organization.


Our lawyers Javier José Vallarino and Eduardo A. Flores participated in this process.


Recognition to Icaza Trust Corporation

Icaza Trust Corporation wins an award as the Trust Sector Company in Panama with the Highest Percentage of Women on its Board of Directors.



On April 20, 2023, the Directors Association of Panama (ADP) celebrated the First ADP Awards Ceremony, in recognition of the Companies with Greater Gender Equality on their Boards of Directors in Panama.


Icaza Trust Corporation was the winner in the category “Fiduciary Sector” as Company of the Trust Sector in Panama with the Highest Percentage of Women on its Board of Directors.


Panama has a new Mental Health Law

Did you know that Panama has a new Mental Health Law?


Through Law 364 of February 6, 2023, the human right to mental health is developed, and its national coverage is guaranteed.


This Law aims to develop the human right to mental health and guarantee its coverage and attention at the national level through the promotion, prevention, and treatment of mental illnesses.


Its main objectives are:

  1. To protect people’s mental health and well-being.
  2. Guarantee respect for the dignity of people with mental illnesses.
  3. Guarantee access to quality services for mental health care.
  4. Ensure non-discrimination of people with mental health conditions.
  5. Prevent mental health conditions.
  6. Reduce suicide rates.
  7. Reduce stigma and prejudice related to mental health.
  8. Incorporate a human rights perspective in mental health care.

Relevant points of the Law:

  • The State shall provide free public mental health care services to anyone requiring mental health treatment.
  • Insurance companies may not discriminate against people with mental health conditions when contracting a life or health insurance policy.
  • Private health centers providing care for people with mental, behavioral, and neurodevelopmental conditions may not refuse to provide psychological and medical assistance to persons experiencing a mental health crisis.
  • Public and private educational institutions of all academic levels, governmental organizations, and public entities shall plan and carry out educational programs that promote mental well-being, prevention of mental deterioration, and awareness of people with mental health problems and in the process of rehabilitation, especially in the case of children and teenagers.


The Executive Branch shall regulate the Law in a period not exceeding six months, counted from its enactment.

Download the full text of the law


Icaza, González-Ruiz & Alemán is recognized as a Gold Tier Law Firm

Icaza, González-Ruiz & Alemán is recognized as a Gold Tier Law Firm



Icaza, González-Ruiz & Alemán is proud to be recognized for the tenth consecutive year as a Gold Tier Law Firm by the World Trademark Review 1000!


Panama’s largest outfit Icaza González-Ruiz & Alemán is steeped in historical significance and home to a modern, thriving trademark practice.”  — World Trademark Review 1000


Our experts Gabriela Tejada de Britton, Moisés Iván Rivera, and Fernando González-Ruiz have also been recognized by the publication as recommended individuals for their exemplary work.


We celebrate this achievement with gratitude for our valued clients and our exceptional Intellectual Property team.


Read more about our ranking clicking here.

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Icaza, González-Ruiz & Alemán provides legal advice in the sale of ChemSol Group.

Icaza, González-Ruiz & Alemán provides legal advice in the sale of ChemSol Group.


Icaza, González-Ruiz & Alemán provided legal advice to ChemSol Group in the process of selling 100% of its shares to Univar Solutions Inc.


ChemSol is a leading distributor of ingredients and chemical specialties with more than 40 years of operation in the market and presence in Costa Rica, Guatemala, El Salvador, Panama, and Honduras.


This transaction was led by our partner Álvaro Alemán Healy, accompanied by our associate Adolfo González-Ruiz, who advised the company’s shareholders from the due diligence process and negotiations until its closing.

Flag of the British Virgin Islands

Amendments to the BVI BC Act 2022 – Existing Struck-off Companies

The BVI Business Companies Act 2004 was amended in 2022, to include changes to the process for restoring struck-off companies.


The new applicable guidelines are the following:

  • Companies that were struck off on January 1, 2023 (“existing struck off companies”) will only have until June 30, 2023, to be restored with the Registry.
  • Restoration is not automatic, and payment of outstanding balances does not guarantee restoration.
  • To restore a company, an application must be filed with the Company Registry, and the Registered Agent must confirm in writing that the company’s records have been audited. Registry fees will be charged to file this application.
  • If a company is not restored within the given six (6) month period, January 1 to June 30, 2023, it will be deemed dissolved on the day following the end of such period (July 1, 2023). The registered agent will also be deemed to have resigned.
  • To restore an existing struck-off company that dissolved on July 1, 2023, an application must be submitted to the BVI Courts. In addition to license fees, penalties, restoration, and legal fees, a penalty of US$5,000 will be imposed on the Company.

Should you have any questions regarding this matter, do not hesitate to contact us.

Annual Report 2022

Annual Report 2022

Get to know the most important events at the firm during 2022


Icaza, González-Ruiz & Alemán’s Annual Report 2022 is here to provide an overview of the most noteworthy events that took place in the firm and in the jurisdictions it serves. The report covers the following topics:

  • Jurisdictional updates
  • COVID-19 legislation in Panama
  • Articles and publications
  • Appointments of firm members and board members
  • Awards and recognitions

This summary is a testament to the hard work and dedication of our lawyers and their teams in the past year, and we look forward to expanding the scope of our publication in the future.

If you would like to provide feedback, please get in touch with us at

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