JD Supra Panama

Publisher:
JD Supra
Publication date:
2019-04-29

Publisher

Latest documents

  • Buying and Selling Real Estate in Panama (Updated)

    KEY FACTS OF REAL ESTATE ACQUISITIONS UNDER PANAMANIAN LAW - 1) Once you find a real estate property that you want to acquire by yourself or through a local real estate broker, it is strongly recommendable to hire a local attorney to perform a thorough due diligence on the property. 2) Once the due diligence is finalized, and the property is clear from any restriction that will impede its sale, you or through your broker, should negotiate the terms and conditions of the transaction, which will include the price and payment method. Please see full Chapter below for more information.

  • Panama: New short-stay visa as a remote worker in the Republic of Panama

    Executive Decree No. 198 of May 7, 2021 (the "Executive Decree") was published in Official Gazette No. 29290-A of May 20, 2021, which creates the short-stay visa as a remote worker (the "Short-Stay Visa as a Remote Worker") and other provisions are enacted.

  • Panama: Modifications to the migratory category of friendly nations

    Executive Decree No. 197 of May 7, 2021 (the "Executive Decree") was published in Official Gazette No. 29290-A of May 2021, which modifies and adds articles to the migratory subcategory of Permanent Resident as foreign nationals of specific countries that maintain friendly, professional, economic and investment relations with Panama ("Friendly Nations"), originally created by Executive Decree No. 416 of June 13, 2012.

  • Buying and Selling Real Estate in Panama

    KEY FACTS OF REAL ESTATE ACQUISITIONS UNDER PANAMANIAN LAW - 1) Once you find a real estate property that you want to acquire by yourself or through a local real estate broker, it is strongly recommendable to hire a local attorney to perform a thorough due diligence on the property. 2) Once the due diligence is finalized, and the property is clear from any restriction that will impede its sale, you or through your broker, should negotiate the terms and conditions of the transaction, which will include the price and payment method. Please see full Chapter below for more information.

  • Panama: Fast delivery or courier services

    By means of Resolution No. 672 of October 16, 2020, the National Customs Authority granted a 3-month term to companies that act as auxiliaries of the customs public function under the modality of Fast Delivery Companies or Courier that have not formalized and/or updated their authorization to do so.

  • Panama amends Decree that suspends evictions and implements provisions, for the collection of rental fees for the duration of the State of Emergency due to COVID-19

    Through Executive Decree No. 314 of August 7, 2020, published in Official Gazette No. 29087, certain Articles of Executive Decree No. 145 of May 2, 2020, which adopted measures to protect tenants affected by the crisis generated by the COVID-19 pandemic, eviction procedures, sanctions and implementation of restrictions on use by landlords/owners, have been amended.

  • Panama: Law that creates the special regime for the establishment and operation of multinational companies for the provision of services related to manufacturing

    In the Official Gazette of September 1, 2020, Law 159 of August 31, 2020 (the “Law”) was published, which regulates the special regime for the establishment and operation of multinational companies for the provision of services related to manufacturing ("EMMA").

  • Panama: Limitations to the reduction of working hours

    Through Executive Decree No. 101 of July 13, 2020, effective as of July 14, 2020, as a result of a tripartite dialogue carried out between the Ministry of Labor of Panama, Trade Unions, and private companies, the Ministry of Labor has regulated that: The maximum limit to agree to reduce working hours will be 50% of working hours per month.

  • Panama: Extension of the submission of declarations before the General Revenue Directorate

    On May 27, 2020, Executive Decree No. 298 was approved, amending, and adding provisions to Executive Decree No. 251 of March 24, 2020, which adopted tax measures to alleviate the economic impact of the State of Emergency decreed in Panama as a result of COVID-19.

  • Extension of submission of reports upon the General Revenue Directorate

    By means of Resolution No. 201-2722 of May 20, 2020, (the "Resolution"), some articles of Resolution No. 201-2401 of March 30, 2020, were modified, through which the General Revenue Directorate (DGI by its acronym in Spanish) extended the term for the presentation of certain reports before said entity, due to the State of National Emergency decreed in Panama due to COVID-19.

Featured documents

  • Panama Papers: Looking Below the Headlines

    The media loves a scandal. In the banking and compliance world, the latest scandal to hit the media was the Panama Papers. The Panama Papers is surprising in scope – Panama has become the favorite financial haven for money launderers, PEPs and other miscreants....

  • Establishing A Business Entity In Panama

    Types of Business Entities - The main types of Business Entities in the Republic of Panama are the Corporations (Sociedad Anónima) and the Private Interest Foundations (Fundación de Interés Privado). Limited Liability Companies (LLC) may be incorporated as well; however, the corporations...

  • Panama: Digital procedures in times of COVID-19

    The General Directorate of the Industrial Property Registry (DIGERPI) authorized by Resolution No. 36 of April 30, 2020, the reception of new trademark applications and petitions for procedures for trademark applications already filed and registered by e-mail....

  • Private Eyes They’re Watching You – Offshore Planning after the Panama Papers

    Overview - If you have been reading my articles on JD Supra for a while, you will know that I love Afro-Cuban and Brazilian music. Nevertheless, the Hall and Oates song Private Eyes, is a more fitting song to describe the state of offshore planning in Tax Havens than “Oye Como Va.” Many...

  • Significant Changes to Call Centers Activity

    Law 52 of October 17, 2018, which regulates call centers activities for commercial use amends the tax incentives received by these companies....

  • Panama releases guide for companies and institutions regarding safe return to workplaces in times of COVID-19

    The Ministry of Health, in conjunction with the Social Security Administration, Ministry of Commerce and Industries, Ministry of Economy and Finance, and the Pan American Health Organization, has prepared guidelines to facilitate compliance with health, hygiene and safety measures for companies and ...

  • In Wake of Panama Papers Scandal Obama Calls for Stricter Bank Regulations, Tax Rules

    In a recent news conference President Obama addressed rules and proposed regulations announced Thursday intended to help the U.S. fight tax evasion and other crimes connected to anonymous offshore companies and accounts. The announcements come after a month of intense review by the administration...

  • Littler Global Guide - Panama - Q3 2019

    On September 2, 2019, the Ministry of Labor issued resolution No. DM-402-19, published the following day on the official government publication, which enables individuals to comply with various filing requirements under the law, that previously could only be completed personally or by proxy. ...

  • Panama: Gradual reopening of companies

    According to Executive Decree No. 96 of May 15, 2020, the Ministry of Labor of Panama has ordered that, for the operation and gradual reactivation of companies and/or activities, the employer must complete the digital form on the reactivation of contracts, enabled by the Ministry of Labor on its...

  • In Wake of Panama Papers Scandal Obama Calls for Stricter Bank Regulations, Tax Rules

    In a news conference May 6, President Obama addressed recently announced rules and proposed regulations intended to help the U.S. fight tax evasion and other crimes connected to anonymous offshore companies and accounts. The announcements come after a month of intense review by the administration...

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