Tributary Measures for Economic Relief During Panama State of Emergency

Panama, April 6, 2020.  On Tuesday March 24th, 2020, the Executive Decree 251 of the same date was published in Official Gazette 28987-A which adopts tax measures to relief the economic effects of the National State of Emergency. In this sense, the following measures are established:  Tax payments From March 20th, 2020, date in which

Panama Creates a Beneficial Owner Registry

María Eugenia Crespo, Associate, Morgan & Morgan April 3, 2020. By Law 129 of 17 March 2020 (hereinafter, the “Law”) the Republic of Panama established the regulatory framework for a restricted database named “Sistema Privado y Único de Registro de Beneficiarios Finales de Personas Jurídicas” (in English, Private and Unique System of Beneficial Owners of

COVID-19: Measures for the procurement of prescription medicines and other health products

March 25, 2020 Resolution No. 53960 of March 25th, 2020 introduced a new article establishing a special procedure for the procurement of medical supplies during the ongoing. This new provision amended Resolution No. 38941-2006-JD of February of 2006, which is the general procurement regulation for the Social Security Administration (“CSS” for its initials in Spanish). This article establishes that, during the current “state of emergency”, purchases will be made under this procedure as

Panama (COVID 19): Labor and Immigration Update 4

Ministerio de Salud ordena el cierre temporal de establecimientos comerciales y empresas salvo ciertas excepciones  DECRETO EJECUTIVO NO. 500 DEL 19 DE MARZO DE 2020 Mediante este Decreto Ejecutivo se ordena el cierre temporal de establecimientos comerciales y empresas de persona natural y jurídica en todo el territorio nacional, con excepción de las siguientes actividades:

Panama (COVID 19): Labor and Immigration Update 3

Ministry of Government suspends all international flights temporarily EXECUTIVE DECREE No. 244 OF MARCH 19TH, 2020 By means of this executive decree, published in the Official Gazette as of March 19th, 2020, the Ministry of Government suspends all international flights temporarily. Comments:  All international flights arriving and departing from Panama are suspended for thirty (30)

COVID-19: Teleworking (Webinar)

Panama, March 18, 2020. In this Webinar, María Teresa Mendoza, partner of Morgan & Morgan, covered topics such as the measures that the employer can and should adopt about COVID-19, and how to apply telework under this particular situation. Click here to view: COVID-19: Teleworking (Disponible en español)

Panama (COVID 19): Labor and Immigration Update 2

The National Immigration Authority ceases public attention  RESOLUTION No. 5893 OF MARCH 16th, 2020 By means of this Resolution, published in the Official Gazette on March 18th 2020, the National Immigration Authority, ceases public attention. Comments:  Due to the actions recommended by the Ministry of Health to prevent possible contagion for workers, employers and users,

Panama (COVID 19): Labor and Immigration Update 1

República de Panamá adopta medidas temporales de carácter laboral para evitar contagio de COVID-19 De conformidad con el Decreto No. 78 de 16 de marzo de 2020, el Gobierno de la República de Panamá ha adoptado nuevas medidas para empresas dentro del territorio nacional las cuales son de carácter obligatorio y se resumen así:  Los

Morgan & Morgan advised the shareholders of Unity Group in a corporate restructuring and subsequent sale of its business to Willis Europe B.V.

Panama, March 12, 2020. Morgan & Morgan advised  the shareholders of Unity Group, a holding company with subsidiaries engaged in insurance brokerage in Central America with operations in six countries (Panama, Costa Rica, El Salvador, Guatemala, Honduras and Nicaragua), in a corporate restructuring and subsequent sale of its business to Willis Europe B.V., a company

A guide on Mergers and Acquisitions in Panama

Francisco Arias, Partner, Morgan & Morgan (head of M&A practice) Roberto Vidal, Partner, Morgan & Morgan Regulatory framework for foreign investment The Panamanian Constitution reserves “retail activities” for Panamanian nationals.  Various statutes have limited the application of the prohibition to activities that involve the sale of goods to consumers. By statute, the private sector (national