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.
Panama, May 7, 2021. We are proud to announce that our partner Kharla Aizpurúa Olmos was selected as Women Leader in Panama by IFLR1000 Women Leaders 2021 edition, a supplement based on research for the IFLR1000, the guide to the world’s leading financial and corporate law firms and lawyers.
The publication features 750 leading and most prominent female lawyers working in areas of law such as banking and finance, corporate, contractual, regulatory, and projects. This is an elite group of lawyers from 235 jurisdictions globally with outstanding reputations within their markets who either have expertise and experience of working on complex deals or who have risen to hold leadership roles with their firms or their practices.
The Americas Women Leaders 2021 ranking can be read at: Americas Women Leaders 2021.
The Ministry of Health unifies the requirements for entry into the country for people coming from the United Kingdom, South Africa, India or South America.
The Ministry of Health (hereinafter “MINSA” for its acronym in Spanish) through Executive Decree No. 589 of April 29, 2021 (hereinafter the “Decree”), unifies in a single text the regulations for the entry to Panama for people coming from the United Kingdom, the Republic of South Africa, India or South America as follow:
- As of 12:01 a.m. on Monday, May 3, 2021, any person coming from, who has stayed or transited through the United Kingdom, the Republic of South Africa, India or South America, during the last 15 days, must bring a negative PCR or Antigen test, no later than 48 hours prior to arrival.
- In addition, upon arrival, a COVID-19 Molecular test must be performed at the cost of the traveler. Depending on the result the following measures must be comply.
- If the test result is negative, the person must complete a 3-day isolation. After this time, the person must retake the PCR or Antigen test. If in this second test the result is (i) negative, the isolation will be concluded and (ii) positive, the person must take a PCR-RT test and typing/analysis test by ICGES and comply a 14-day isolation in a COVID-19 hospital hotel for travelers.
- If the result is positive, the person must complete a 14-day isolation in a COVID-19 hospital hotel for travelers.
- The travelers can do their 3-day isolation in (i) their home, if they are nationals or residents in Panama, (ii) a hotel for non- COVID-19 travelers, at the cost of the Government, or (iii) other hotels authorized by the health authority, at the traveler’s expense. To opt to this last option the person must present his reservation in the authorized hotel, prior to boarding.
- In case of travelers coming from, who have stayed or transited through the United Kingdom, the Republic of South Africa, India or South America, during the last 15 days and turn out to be contacts of confirmed cases of COVID-19 within the transport used to arrive in Panama, the following proceed must be follow:
- If the person is in Panama, a self-isolation for 3 days must be complied with a follow-up by telephone.
- If the person is no longer in Panama, the National Focal Point, of the country of destination, must be notified.
- The health authority reserves the right to carry out the Molecular test at random, to any travelers who entry to Panama, which will be at the traveler’s expenses.
- This Decree will become effect at May 3, 2021.
- Previously, people coming from the United Kingdom and South Africa, had to do an isolation in a hospital hotel, regardless of the results of the COVID-19 test that was taken in the airport. Now, the test results are taking into consideration to establish the time and place of the isolation.
- Previously, if the people coming from the United Kingdom and South Africa, had stayed or transited in the last 20 days through any of these countries, they had to follow the quarantine measures. Now, the time has been reduced to 15 days prior to the arrival.
- This Decree has included India within the countries, whose passengers coming from there, must follow the quarantine measures to entry to Panama.
- These measures apply to nationals, residents and tourists coming from, who have stayed or transited through the United Kingdom, the Republic of South Africa, India or South America, regardless of the result of the PCR or Antigen test that was taken in their country.
- This Decree derogates the Executive Decree No. 260 of March 29, 2021, Executive Decree No. 486 of April 16, 2021 and Resolution No. 1390 of December 21, 2020.
Panama, April 22, 2021. The Patent Lawyer Magazine, The Americas and the Caribbean Patent Rankings 2021 profiles Morgan & Morgan as one of the leading law firms in Panama in Patent Law.
Morgan & Morgan has a complete Intellectual Property Departments in Panama specializing, among others, in the filing and registration of trademarks, service marks, slogans, trade names, inventions, utility models, industrial designs, and plant varieties under Industrial Property Law.
The ranking can be read here.