Law 33 of July, 2010 modified by Law 52 of August 28th, 2012, Resolution No. 201-10860 of August 26th, 2013 and Executive Decree No. 958 of August 7th, 2013 regulate the subject of Tax Residency in Panama.
In our country, the tax residency certificates in principle are only applicable to residents of countries with which Panama has subscribed Double Taxation Treaties. Currently these countries are: Mexico, Barbados, Qatar, Spain, Luxemburg, Netherlands, Singapore, France, Korea, Portugal, Ireland, Czech Republic, United Arab Emirates and United Kingdom.
Pursuant to the current legislation, natural and legal persons must solely prove their tax residency based on evidence which is regulated and duly acknowledged by the Authority.
The legal person may prove its tax residency in Panama in two (2) ways, evidencing the following: