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The Ministry of Labor and Labor Development sets the cost for Work Permit ID cards

The Ministry of Labor and Labor Development (MITRADEL), through Ministerial Resolution No. DM-337-2023 dated September 15, 2023, established the new costs for the issuance of work permit ID cards for foreigner workers. These new costs were set due to the implementation of the new digitization system. Some costs remained the same; however, others were increased.

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Law 401 establishes an annual franchise tax rate savings opportunity for Corporations and Private Interest Foundations.

The National Assembly of Deputies of the Republic of Panama issued Law No. 401 of October 5th, 2023 (published in Official Gazette No. 25998) through which discounts of 25% are granted for prompt payment to owners of corporations and private interest foundations that advance the payment of the Annual Franchise Tax for year 2024 before

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Morgan & Morgan receives top rankings in IFLR1000 2023.

Panama, October 3, 2023. Once again, Morgan & Morgan consolidates its position as a leading law firm in Panama in the 2023 IFLR1000 rankings for firms and lawyer ratings for Latin America. Firm´s rankings Banking and Finance: Tier 2 Capital Markets (Debt & Equity): Active M&A: Tier 2 Project Development: Tier 1 Individual ratings Francisco

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Latin Lawyer 250, 2024: Highly Recommended

Panama, September 22, 2023.  Once again, Latin Lawyer 250, 2024 edition, recommended Morgan & Morgan in the areas of Banking and Finance and Corporate and M&A. Banking and Finance “Morgan & Morgan´s banking and finance department frequently represents lenders during project finance deals, credit facilities and refinancing transactions. This practice group also includes capital markets

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BVI Financial Annual Return

The Legislation The amendments to the British Virgin Islands (“BVI”) Business Companies Act (the “BC Act”) and BVI Business Companies Regulations (the “Regulations”) were published by the BVI government and entered into force on 1 January 2023. In this article we analyze a major change, which is relevant to the accounting requisite of BVI International

The National Immigration authority announces new migration measures for entry to Panama

The National Immigration Authority (hereinafter “SNM” for its acronym in Spanish) has announced that, starting from September 8, 2023, they will implement new administrative migration measures for entry to Panama, in order to counteract the increase in irregular migration. Among the new migration measures to be implemented, we can mention the followings: Reduction of the stay period for

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Chambers Private Wealth Global Practice Guide 2023: Panama.

Panama, September 7, 2023. Morgan & Morgan’s Private Wealth Law team, comprised of partners Raúl Castro, Luis Manzanares, Fernando Boyd, and Laura Barrios, contributed to the Panama Chapter of Chambers Private Wealth Law Practice Guide 2023, a guide featuring over 30 jurisdictions.   Our analysis on the trust and corporate services industry in Panama offers the latest

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Remote work after Covid: Panama’s experience

By Maria Teresa Mendoza, Partner, Labor Law. This article was originally published on CorporateLiveWire, Expert Guide, August 2023. The Covid-19 pandemic changed our lives in many ways and has had a long-term impact on various different aspects, including how people organise their work and where the work is performed. Working remotely is not a new

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The Bahamas´ New Business Licence Act, 2023

New Legislation Business Licence Act, 2023 (the “New Act”) which repeals and replaces the Business Licence Act, 2010 (the “Repealed Act”) is now in force along with the ancillary Business Licence Regulations, 2023 (the “New Regs”). The New Act is a consolidation and amendment of the law relating to business licences from the period commencing

Morgan & Morgan advised Orla Mining Ltd. and Minera Cerro Quema, S.A. in connection with a secured credit facility for an amount of up to US$200 million.

Panama, August 29, 2023. Morgan & Morgan advised Orla Mining Ltd. (“Orla”), as borrower and Minera Cerro Quema, S.A., as guarantor (“MCQ”) with respect to a refinancing of an existing secured credit facility, increasing the facility from US$150 million to US$200 million and extending the term. The Refinancing includes a term facility and a revolving