COVID-19: Additional, exceptional and temporary measures adopted by the Superintendency of Banks of Panama and the Panama Banking Association.

Updated on May 21, 2020.Rule 2-2020, as amended by Rule 3-2020 of the Superintendency of Banks of Panama (hereinafter, “SBP,” for its initials in Spanish). On March 16, 2020, the SBP issued Rule 2-2020, which was subsequently amended by Rule 3-2020 (here in after referred to as “Rule 2-2020″) and “establishes additional, exceptional and temporary

Why incorporate your startup in Panama?

In the corporate world, there is a novel type of enterprise labeled “startup,” which is known for its rapid growth, partly, because of the fact that it is highly related to the general use of information and communications technologies (ICTs) and the latest business trends. Given the rapid growth and scale that characterizes a successful

Chambers & Partners Corporate Tax Guide 2020

Panama, May 19, 2020.  Partner Inocencio Galindo, senior associate Amanda Barraza, and associate Angelica Ortiz contributed with Chambers & Partners Corporate Tax Guide 2020. This edition highlights the key features of tax regimes, taxation of inbound investments, taxation of non-local corporations, anti-avoidance and BEPS.The online Panama chapter is available here. Or a PDF version is available

COVID-19: Latin American Guide for Employers 2nd Edition

Updated on May 18, 2020  In this guide, Employment Law Alliance (ELA) members from the Latin American region have provided answers to some of the most important questions that companies need to address during the COVID-19 pandemic. María Teresa Mendoza, partner at Morgan & Morgan, covered the Panama chapter of the guide. Click here to

The National Immigration Authority and the Civil Aviation Authority extend the measures taken as a result of the State of Emergency declared due to the COVID-19 pandemic

Updated on May 18, 2020.  National Immigration Authority: The validity of residence permits is extended up to May 31. This extension is in force since March 13. All administrative and procedural terms are suspended until May 31. In-person service to users is also suspended until the same date.  Civil Aviation Authority: The suspension of all

COVID-19: Measures related to leases and evictions.

Updated on May 14, 2020. Through Executive Decree No. 145 of 1 May 2020 (the “Executive Decree”), enacted in Official Gazette 29,015 of the same date, the Panamanian Government established certain measures related to lease agreements and eviction procedures. Among its recitals, the Executive Decree indicates “that the health crisis produced by the COVID-19 pandemic, has resulted in the loss of jobs, the suspension of the effects of contracts, as well as commercial

Insolvency and Liquidation proceedings (Webinar)

Panama, May 13, 2020. The Chamber of Commerce, Industries and Agriculture of Panama held a Webinar on “Practical procedures of the insolvency regime for the reorganization of companies.” Jose Carrizo and Aristides Anguizola, partners at Morgan & Morgan, participated as speakers during the presentation to more than 200 Chamber members. Click here to view: Practical

COVID-19: Creation of the Health Committee and the Safety Plan for the return to business activities

Panama, May 12, 2020. In planning for the post-quarantine return to business activities, the Ministry of Labor (MITRADEL, for its initials in Spanish) based on Executive Decree No. 78 of March 16, 2020, has required business to create Special Committees on Health and Hygiene for the Prevention and Care of COVID-19. These committees must include representatives

COVID-19: Measures related to leases and evictions

Update on Panama, May 7, 2020. Through Executive Decree No. 145 of 1 May 2020 (the “Executive Decree”), enacted in Official Gazette 29,015 of the same date, the Panamanian Government established certain measures related to lease agreements and eviction procedures. Among its recitals, the Executive Decree indicates “that the health crisis produced by the COVID-19

Insolvency and Liquidation proceedings vis-a-vis the COVID-19 crisis (Presentation)

Panama, May 7, 2020. Brief and concise presentation on Law 12 of March 19, 2016, which regulates insolvency proceedings. The presentation provides an overview of the procedural requirements, effects and application for both reorganization and liquidation proceedings in Panama. Given the economic impact of the “Covid-19” crisis, knowledge of this Law becomes very relevant. Click