Superintendence of Non-Financial Regulated Persons issues new regulations in relation to attorneys and accountants

Panama, 24 July 2020. By means of Rule JD-01-2020, published in the Official Gazette No. 29076 of 24 July 2020, the Superintendence of Non-Financial Regulated Persons (SNFR) has established a set of rules and obligations imposed to attorneys and accountants whenever they incur in any of the regulated activities under Law 23 of 2015, which

Chambers & Partners Securitization Guide 2020

Panama, March 9, 2020.  Partners Francisco Arias, Ricardo Arias, and associate Cristina De Roux contributed with Chambers & Partners, providing their professional insights into Panama’s legal securities market. The online Panama chapter is available here. Or a PDF version is available to download here.

A look at the compliance measures applicable to the Stock Market

Pablo Epifanio, Senior Associate, Morgan & Morgan The stock market is undoubtedly one of the most important economic forces in the world. Every year, billions of dollars are moved through stock exchange operations, and year after year, in most jurisdictions, the stock market is promoted as a tool for financing or capturing capital for issuers

Morgan & Morgan featured in The Arbitration Review of the Americas 2020

Panama, November 6, 2019. Jose Carrizo, head of the Litigation and Dispute Resolution practice of Morgan & Morgan, contributed with the Panama chapter of The Arbitration Review of the Americas 2020, providing a comprehensive analysis of the arbitration system in Panama, its legislation and every aspect that confirms the country as an international and regional

The Insolvency Law in Panama

Analissa Carles, Associate, Morgan & Morgan On May 19, 2016, the concept of a “Bankruptcy,” as the legal term was defined, ceased to exist under Panamanian law. Law 12 of 2016 (the “Insolvency Law”) entered into force on that date and introduced new proceedings into our legal system. These proceedings are referred to as Reorganization

New Law on tax amnesty in Panama: corporations and private interest foundations

Alvaro Tomas, partner and Vice President of Operations of the Fiduciary Unit of Morgan & Morgan The Panamanian government has issued Law 99 of October 11, 2019, which establishes a General Tax Amnesty Law (“Amnesty”) that includes the elimination, for a limited period, of the penalties and surcharges caused by non-payment of the obligations with

Considerations before starting a business in Panama

María Eugenia Brenes, associate of the Intellectual Property and Corporate Law Department of Morgan & Morgan [email protected] Formalizing a business requires several decisions of a legal nature. Business Owner The first thing that should be considered is to determine whether the venture is on a personal basis or through a corporation. This decision is very

What employers need to know about labor regulations in the Republic of Panama

Introduction Panama’s Labor Code, in effect since April 1972, with some changes in the last years, regulates the relationship between capital and labor, based on the principles of social justice established in the Political Constitution of the Republic and it creates a special State protection as a benefit of the employees. The State will intervene

New immigration changes: SEM, Special Regularization Process and Aviation

Executive Decree No. 238 of June 10, 2019 REQUIREMENTS TO APPLY FOR PERMANENT RESIDENCY FOR EXECUTIVES OF MULTINATIONAL HEADQUARTERS OFFICES (“SEM” for its acronym in Spanish). As of June 11th, 2019, the requirements to apply for the Permanent Resident Permit for Executives of SEM companies who i) continue working at a SEM company, and ii)

CHANGES IN THE RULES TO GRANT RESIDENCE AND WORK PERMITS

As of May 28th, 2019, five (5) Executive Decrees were enacted to modify rules related to the granting of residence and work permits.  The main changes are the following: NATIONAL IMMIGRATION AUTHORITY. Stay Visa for citizens of the United States of America: A new category of Stay Visa is created for citizens of the United