JD Supra (JD Supra Panama)

48 results for JD Supra (JD Supra Panama)

  • 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...

  • 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.

  • 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...

  • 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.

  • 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 website.

  • 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 public or private institutions that are operating or could be authorized in the future by health...

  • Panama suspends evictions and the charge of leasing fees while the State of Emergency for COVID-19

    Through Executive Decree No. 145 of May 2, 2020, published in Official Gazette No. 29015 of May 1, 2020, the Government of the Republic of Panama has adopted measures to protect tenants affected by the crisis generated the by COVID-19 pandemic, from eviction proceedings, penalties and implementation of usage restrictions by landlords/owners.

  • 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.

  • Panamá: Amendment to Law 59 on immunity due to chronic illness

    Through Law 151 of April 24, 2020, Article 4-A was added to Law 59 of December 28, 2005, through which labor protection standards were adopted for people with chronic, involuntary, and / or degenerative diseases causing occupational disability.

  • Panama: The use of tax equipment is temporarily excepted as a consequence of sanitary measures established nationally

    To who does it apply: All taxpayers, natural or legal persons, who maintain fiscal equipment or other billing systems as a means to document their income. Temporary exceptions: To the use of fiscal equipment or any other billing system throughout the national territory, to taxpayers who cannot make use of said equipment or systems that rest in commercial establishments or business offices as

  • Panama: Fiscal measures adopted during the state of emergency caused by COVID-19

    In order to support taxpayers, the National Government and the General Directorate of Revenues of the Ministry of Economy and Finance have taken the following measures: Surcharges, interest, and fines: 85% of the total will be waived for payments to be made after February 29, 2020, and until June 30, 2020. Payment arrangements: The deadline for full compliance with those existing on February 29, 2

  • Labor measures regarding COVID-19 in Panama

    According to Resolution No. 11 of March 13, 2020, the Cabinet Council has declared a state of national emergency in the Republic of Panama, as a consequence of COVID-19. The Government through its different branches, has issued a handful of Executives Decrees in order to authorize and order extraordinary measures to face the situation. This is especially the case for the Panamanian Labor Ministry.

  • Teleworking in Panama

    Law No. 126 of February 18, 2020 (hereinafter “Teleworking Law”), published in Gazette 28965-A, which establishes and regulates teleworking in the Republic of Panama and modifies an article of the Labor Code, arrives as a legal guarantee in the face of changes in the labor market, in which remote or out-of-office work is becoming more frequent, either during some days of the week or as a...

  • Panama reinstates procedural remedy know as conservatory measures (injunctive relief)

    Through Law 119 of December 10, 2019, published in Official Gazette No. 28917-B of December 10, 2019, in force as of such date, Article 569 of the Judicial Code which dealt with injunctive remedy, known in Panama as “conservative or general protection measures”, has been reinstated. Article 569 of the Judicial Code had been struck off through Law 19 of March 26 of 2013, as at the time, the...

  • Littler Global Guide - Panama - Q4 2019

    Effects of Declaration of December 20, 2019, as a National Mourning Day - New Order or Decree - On December 28, 2019, President Laurentino Cortizo and his Cabinet declared December 20, 2019, as a National Mourning Day, in remembrance of the 30th Anniversary of the United States’ invasion of Panama, to capture then-president Noriega.

  • Incentives for the promotion of tourism activity in Panama

    The benefits established by Law No. 80 of 2012 seek to boost foreign investment in the tourism sector in Panama for...

  • Panama – Amendment of income tax statement for the headquarters of multinational companies

    The General Directorate of Revenue of the Ministry of Economy and Finance, confirmed that adjustments have been made to the form for the payment of the Income Tax (ISR) so that the Headquarters of Multinational Companies (SEM by its Spanish acronym) can proceed with the payment of this tax.

  • Panama – Increase in minimum hourly wage rates for 2020

    By Executive Decree No. 424 of December 31, 2019, the Executive Branch approved the increase in minimum hourly wage rates, according to economic activity, occupation and company size, throughout the Panamanian national territory. The Executive Decree to be enforced in Panama as of January 15, 2020.

  • Eleventh Circuit Clarifies Standard for New York Convention’s Public Policy Defense to Foreign Arbitration Awards

    The dispute involved an arbitration related to alleged medical malpractice by doctors selected by Carnival Cruise Lines to treat a wrist injury of a Serbian employee of Carnival. The employee’s employment agreement with Carnival contained mandatory arbitration and forum selection clauses and a choice-of-law clause designating the governing law as the law of Panama, the law of the flag of the...

  • Expanding Cannabis Operations in Latin America & The Caribbean: Panama

    Medical Use: Draft regulations in preliminary discussion at Congress but discussion halted. Recreational Use/Adult Use: Prohibited. No pending regulation.... Please see full Chapter below for more information.

  • 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.

  • 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.

  • 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 represent most of the registrations. These business entities have the following advantages: • They...

  • Register of Money Remittance Companies with the Superintendency of Banks

    The Prevention Agreement for Other Financially Obligated Subjects No. 001-2018 of August 21, 2018, issued by the Superintendency of Banks of Panama, establishes the registration process for money remittance companies before the Superintendency of Banks.

  • Request a trial to view additional results

VLEX uses login cookies to provide you with a better browsing experience. If you click on 'Accept' or continue browsing this site we consider that you accept our cookie policy. ACCEPT