Morgan & Morgan among the 100 companies with the Best Corporate Reputation in Panama, Social Responsibility and Good Governance in Panama
Panama, June 7, 2021. For the third consecutive year, the Corporate Reputation Business Monitor (MERCO) presented the Ranking of Companies 100, Leaders 75 and Social Responsibility and Good Governance 100, corresponding to business action in 2020, a year marked by the COVID-19 pandemic.
We are pleased to announce that Morgan & Morgan was the only Panamanian law firm included in the four rankings as follows:
- Companies 100 – Corporate Reputation: Position # 49
- Companies 100 – Social Responsibility and Good Governance: Position # 26
- Leaders 75: Juan David Morgan G. # 12, Eduardo Morgan Jr. # 29
- Companies 30 – Most Engaged during the Pandemic (COVID-19): Position # 21
The rankings were also led by others renowned Panamanian companies such as Banco General, Riba Smith, Panama Canal Authority (ACP), Copa Airlines, Cervecería Nacional, Corporacion Medcom, Grupo Melo, Ricardo Pérez, Nestlé, Televisora Nacional (TVN), Metro de Panamá, and Global Bank, among others.
MERCO is a reputational evaluation instrument launched in 1999, which has a multistakeholder methodology made up of 25 evaluations and have become one of the main reference monitors worldwide. The study was carried out by Análisis e Investigación, the first Spanish market research institute, and the methodology for preparing the ranking of companies with the best reputation has been an independent application by KPMG in accordance with the ISAE2000 standard.
More information is available at:Resultados Merco Empresas, Líderes y Responsabilidad Social 2020.
Panama, June 3, 2021. Morgan & Morgan has been shortlisted as “Panama Litigation and Arbitration Firm of the Year” in the upcoming Benchmark Latin America Virtual Awards to be held on June 16, 2021. These awards aim to recognize the firms and litigators who have performed exceptionally at local and regional levels.
Likewise, our seasoned partner, Mr. Simon Tejeira Q., has been shortlisted as “Panama Litigator of the Year.”
For more information: Benchmark Latin America nominees.
Morgan & Morgan´s NGO (Fundamorgan) celebrates its twentieth-anniversary.
The Foundation was established to honor the memory of Eduardo Morgan Alvarez (1902-1988), founder of Morgan & Morgan, a self-taught lawyer by vocation who dedicated his life to the successful exercise of the law, to procure an equal access to justice and to serve his country.
Panama, June 1, 2021. Fundamorgan is a non-profit organization, legally constituted in the year 2000, which channels the social-community actions of Morgan & Morgan, MMG Bank, and other related companies, through two lines of action: Education and Access to Justice; with the aim of contributing to the buildup of a fairer society with a better quality of life for everyone.
Through the work of our “Access to Justice” axis, from the Community Legal Assistance Program, Fundamorgan provides free legal advice in criminal and family proceedings to women victims of domestic violence who generate less than $800 per month, thus contributing to SDG#5 (Gender Equality). Also, the foundation devotes great efforts to prevention strategies, building capabilities, and advocacy campaigns to promote women’s empowerment programs, access to justice and gender equity as tools for social change.
On the other hand, in the axis of “Education”, since 2014 Fundamorgan focuses its efforts on a citizenship program called “Responsible Citizenship and Human Rights” which promotes human rights in the youth population of Panama as a way to build responsible and participatory citizenship. We include workshops such as: personal dignity, respect for others and the community, a culture of democracy, and others which allows the transformation and improvement of institutions, governments, and the quality of life of its citizens.
Some of Fundamorgan´s achievements in the last 20 years:
- More than 3,500 legal proceedings in behalf of people who would otherwise not have been able to afford this service.
- Impacted more than 11,000 people through awareness-raising activities and discussions about how to recognize their rights as a woman and their families, and warnings about domestic violence, its beginnings and how to stop it.
- Through the Pro-Bono Program, we provide annually more than a thousand hours of free legal advice to various nonprofit organizations and in public interest projects.
- More than 12,000 young people benefited from the “Responsible Citizenship and Human Rights Program”.
- Awarded more than 30 Eduardo Morgan Alvarez Law Scholarships.
- Some of Fundamorgan´s distinctions in recent years:
- UNESCO selected the “Responsible Citizenship and Human Rights Program” as a good practice to promote a culture of coexistence for development.
- The Global Compact recognized the Community Legal Assistance Program as a Good Business Practice by the Sustainable Development Goals, specifically SDG 5: Gender Equality.
- Our programs have been recognized by The American Chamber of Commerce and Industry of Panama (PANAMCHAM) with their Sustainability Award for their unique characteristics.
For more information on this celebration, please visit www.fundamorgan.org/20.
Panama, May 28, 2021. Recently, as a member of the International Maritime Law Seminar (“IMLS”), Morgan & Morgan collaborated with an article for the IMLS’ newsletter published due to the cancellation of the annual IMLS events in London and Singapore as a consequence of the Covid-19 pandemic. Our attorney Andrés V. Mejía, from the Shipping & Admiralty Department, wrote about an important ruling issued by our Maritime Appeals Tribunal. With this collaboration our firm ratifies its place in one of the most important forums where industry professionals discuss the latest views on international maritime law.
Click here to download the newsletter: IMLS Newsletter
The Ministry of Security modifies the requirements for the Temporary Residence Permit and the Permanent Residence Permit as Forest Investor.
The Ministry of Security, through the Executive Decree No. 199 of May 7th, 2021 (hereinafter the “Decree”), adjusts the requirements for obtaining a temporary residence permit and a permanent residence permit as a Forest Investor, as follows:
- The forest investor residence permit may be requested in the following modalities: (i) temporary residence permit, (ii) permanent residence permit in 2 stages, and (iii) permanent residence permit in 1 stage.
- Temporary Residence Permit:
- The investment must be for a minimum amount of B/.80,000.00.
- In the case of a legal entity, up to two foreigners may apply for the permit, as long as it is demonstrated that each one invested a minimum of B/.80,000.00.
- It is granted for 2 years, renewable for the same period, up to 6 years.
- Permanent Residence Permit in 2 stages:
- The permanency is granted in two stages (i) the first stage will grant a provisional residence permit for a 2-years term, and (ii) in the second, the permanent residence may be applied for.
- The investment must be for a minimum amount of B/.100,000.00.
- In the case of a legal entity, up to two foreigners may apply for the permit, as long as it is demonstrated that each one invested a minimum of B/.100,000.00.
- Permanent Residence Permit in 1 stage:
- The permanency is granted automatically once it is approved by the Immigration Authority.
- The investment must be for a minimum amount of B/.350,000.00.
- In order to maintain the Permanent Residence as a Forest Investor, regardless of the stages through which it was obtained, it is necessary that the investment is maintained for a minimum period of five (5) years. If the investment ceases or ceases to exist before the fulfillment of this term, it will give rise to the cancellation of the permanent residence.
- This Decree will become effective as of its promulgation.
- Previously, the temporary residence permit required a minimum investment of B/.60,000.00, however, with this Decree the amount increases to B/.80,000.00.
- For the permanent residence permit granted in two stages, previously a minimum investment of B/.80,000.00 was required; however, with this Decree the amount increases to B/. 100,000.00.
- The permanent residence permit was granted only in two stages. With this Decree, is added a permanent residence granted directly, in a single stage,
- Previously, in addition to the minimum investment amount required, they requested that the investment be made in a minimum of (i) 3 hectares for the temporary residence permit and (ii) 5 hectares for the two-stage permanent residence permit. With this new Decree, the hectares requirement is eliminated.
Panama, May 27, 2021. Jose Carrizo, partner and head of the Litigation and Dispute Resolution practice of Morgan & Morgan, participated as speaker in the “Asset Recovery Americas: Fraud Litigation, Contentious Insolvency and Enforcement in the Americas” conference, a seminar series for fraud and insolvency practitioners. The activity was organized by Informa Connect, a major brand in events and digital content for business professionals.
Mr. Carrizo attended the panel “Fraud in Times of Crisis” alongside other international leading practitioners from the fraud, enforcement, and insolvency world. The panel discussed their experiences of fraud in times of crisis and what they foresee over the coming years.
More information can be found here https://informaconnect.com/asset-recovery-america/speakers/jose-carrizo/.
The Ministry of Public Security modifies the requirements to request the residence permit for foreigners from specific countries who maintain friendly professional, economic and investment relationship with the Republic of Panama.
The Ministry of Public Security through Executive Decree No. 197 of May 7, 2021 (hereinafter the “Decree”), modifies the requirements to obtain the residence for foreigners from specific countries who maintain friendly professional, economic and investment relationship with the Republic of Panama, commonly known as “residence permit as friendly nations”, as follow:
- Taiwan is eliminated from the list of countries whose citizens can apply for this residence permit.
- This residence permit will be granted in 2 stages. A first stage that grants a provisional residence permit of 2 years and a second stage that grants a permanent residence permit.
- The applicant cannot longer request this residence permit for investment reasons as owner of the shares of a Panamanian corporation.
- This residence permit can be requested for (i) working reasons as employee of a Panamanian company, and (ii) for investment reasons as owner of a real state in Panama.
- To request this residence permit for working reasons the applicant must provide:
- A job letter from the employing company, which certify the job position, salary, and the commitment of the company to assume the repatriation expenses, depending on the case.
- Public Registry Certification of the employing company.
- Notice of Operations of the employing company.
- To obtain the approval of the residence permit, the applicant must request a work permit through the Ministry of Labor and Labor Development.
- To request this residence permit for investment reasons as owner of a real state the applicant must provide:
- Public Registry Certification of the real state which prove (i) the ownership of the real state by the applicant, and (ii) the real state’s minimum value of B/. 200,000.00, which can be financed with a local bank.
- In addition to the requirements mentions above, the applicant must provide:
- The general requirements established by the Article 28 of the Decree Law No. 3 of February 22, 2008, which are (i) copy of the passport, (ii) non-criminal record from the country of origin or residence of applicant, (iii) good health certificate, (iv) payment of B/. 250.00 to the National Treasury, (v) payment of B/. 800.00 to the National Immigration Authority, and (vi) affidavit of personal background.
- Three (3) passport size photo.
- If the applicant will include dependents, he/she must provide (i) evidence of kinship through a marriage or birth certificate, depending on the case, and (i) a responsibility letter from the applicant towards their dependents.
- To apply for the permanent residence permit, the applicant must provide the same requirements mentioned above, except the paymet of B/. 250.00 and B/.800.00
- This Decree will take effect 90 days from its promulgation.
- This residence permit currently grants a permanent residence permit in a single stage, however, with the change introduced by this Decree, the permanent resident permit is granted in the second stage.
- Currently, this the residence permit can be requested if the applicant is the owner of a real estate, with a value of more than B/. 100,000.00. With this new Decree the amount increase to B/. 200,000.00
- With this Decree, it is eliminated the requirement of the bank certification or account statement of the applicant, with a balance of no less than 4 average figures.
- The applicants will have until August 20, 2021 to apply for the resident permit as friendly nations with the current requirements that were stablished in the Executive Decree No. 416 of June 13, 2012.
The Government of the Republic of Panama, in response to the new modalities of work worldwide, among these, remote working, considered it appropriate to create this subcategory within the Non-Resident Visas.
Executive Decree No. 198 of May 7th, 2021 (hereinafter, the “Decree”), published in the electronic Official Gazette on May 20th, 2021, creates the Short Stay Visa as a Remote Worker.
- This visa will be granted to those foreigners who intend to work remotely within the Republic of Panama for a period of nine (9) months, renewable once for the same period.
- The foreigner who applies for this Visa must meet, in addition to other applicable specific requirements, with the following prerequisites:
- To (i) have a work contract with a foreign transnational company, or be a (ii) self-employed worker, in the remote working model.
- Perform duties that have effects abroad.
- Receive income from a foreign source and with an annual amount not less than USD 36,000.00 or equivalent in foreign currency.
- Have a valid medical insurance policy, with coverage in Panama.
- For its renewal, the foreigner must meet the same requirements submitted with the first application.
- Once the short stay visa is approved, it will not be necessary to carry out additional procedures or obtain authorizations from another governmental entity.
- If the foreigner were to represent the foreign company for local activities in Panama, the Short Stay Visa will be canceled.
- This Executive Decree became effective as of May 20th, 2021.
Panama, May 20, 2021. We are proud to announce that our partner Albalira Montufar was selected as Leading Immigration Lawyer in Panama byWho´s Who Legal (WWL) Central America 2021 edition, a comprehensive guide to the region’s legal market, including the most highly regarded firms and individuals across Belize, Costa Rica, Dominican Republic, El Salvador, Guatemala, Honduras, Nicaragua, and Panama.
Ms. Montufar features in the Labor, Employment, and Immigration chapter of the guide, highlighting her more than 15 years of experience advising local and multinational corporations on immigration law.
“The excellent Albalira Montufar is a tenacious, resourceful and articulate lawyer with strong judgement and problem-solving skills, in addition to her detailed knowledge of immigration law and regulation.”, WWL says.
More information can be found online here: Who´s Who Legal Central America 2021 – Albalira Montufar.
Panama, May 18, 2021. Partner Kharla Aizpurua Olmos contributed with the Panama chapter of the Terralex Cross-Border Data Protection Guide, a publication produced by members from around the globe of the Technology & Digital Business Industry Sector Team of Terralex. With the ever-changing technology and responding legislation, businesses must be prepared to handle a patchwork of data protection regulations. This guide provides initial guidance on some of the critical aspects to consider.
The Panama chapter can be read here.