Obligation of Keeping Accounting Records for Companies that do not Perform Operations in Panama

December 5th, 2018

Law No. 52 of 2016 has been regulated by Executive Decree No. 258 of September 13th, 2018. The scope of the law had been clearly established by this regulation, which states that legal persons who do not perform acts of commerce in Panama, must keep their Accounting Records and submit them to the General Directorate […]

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Horizontal Property and the Amendments to the Real Property Tax

October 2nd, 2018

The owners of real property which are subject to the Horizontal Property Regime are under the obligation of paying taxes both in respect to their real estate unit and the land on which the same is built. Law 66 of October 17th, 2017 published by means of Official Gazette No. 28388-C. Exemptions and rates in […]

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New Immigration Requirements for Venezuelan Nationals

October 19th, 2017

The Panamanian Government recently included the Bolivarian Republic of Venezuela in the list of countries whose nationals require a stamped visa by a Consul in order to enter the national territory. This new legislation entered into force on October 1st of this year, as set forth by Executive Decree No.  473 of August 23rd of […]

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An analysis of the legal framework for entrepreneurs in Panama

September 25th, 2017

Did you know that 20% of the Panamanian population are entrepreneurs? Our country, with almost 4 million residents and a dynamic market with large companies, concentrates its largest number of entrepreneurs in Panama City and Colon, according to a study performed in 2015 by the Global Entrepreneurship Monitor (GEM). The term entrepreneur may be defined […]

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The Spin-Off as a Corporate and Tax Planning Tool

September 7th, 2017

Five years after having enacted Law 85 of November 22nd 2012, which supplements the concept of spin-off of corporations to the Code of Commerce of Panama, still not many know the appeals that it has as a legal tool. Let us begin with a definition. What is a spin-off? A spin-off consists in the partial or whole […]

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  • IGRA: Mariano Oteiza Jr. julio 2011.

Novel incentives for maritime financing operations in Panama

August 14th, 2017

In the centenary year since the foundation of the Merchant Marine of the Republic of Panama, a creative and modern piece of legislation has been recently enacted with the intention to launch our country as a regional center for the financing of the maritime industry. We refer to Law N°50 of June 28th, 2017 (hereinafter […]

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  • Joel Medina

Unjustified tardiness as justified cause of dismissal: interpretation and analysis

June 19th, 2017

Recently, the Superior Labor Court of Panama, by ruling in second instance (appeal) on the labor complaint for unjustified dismissal filed against a Colon Free Zone company, declared fully justified the dismissal of an employee who had repeated unjustified tardiness and, consequently, acquitted the defendant company of all liability towards the economic claims of the […]

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Myths and realities of Panamanian Corporations

May 24th, 2017

During the last months the reader surely has come across diverse and perhaps incompatible information on the legal framework regarding the creation of corporations and private interest foundations. In such a context, it is not surprising to see a variety of questions arise. With this article, I intend to contribute to this debate with some […]

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  • Michelle de De la Guardia

Panama as an added value to SEM companies: a reflection 10 years later

April 24th, 2017

Ten years have elapsed since the enactment of Law 41 of 2007, whereby the Special System for the establishment and operation of Multinational Corporations Headquarters (SEM) was created in Panama. As of that date, 134 licenses have been issued for SEM companies in Panama, according to data from the Multinational Corporation Directorate of the Ministry […]

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Essential Steps – MIGRATION

September 22nd, 2015

Essential Steps to apply for an immigration status in Panama Request your criminal record. The criminal record is a document that you shall need for any immigration status you want to apply. You can request it in your country of birth or the country in which you currently reside (in this case, you shall also have to provide a copy […]

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