The Panama Trust in International Tax Planning

Panama trusts are employed in a variety of purposes, whether they be commercial, as in the case of guarantee, development, or securitization trusts, or for private purposes such as asset protection or succession trusts, and can be used indistinctively for either domestic or international transactions, because the law makes no difference between local or offshore

A Look at Panama’s Tax Reform

Panama’s current administration began its tax reforms with Law 49 of September 17, 2009 (Law 49/2009). That was followed by Law 69 of November 6, 2009 (Law 69/2009), Law 8 of March 15, 2010 (Law 8/2010), Law 33 of June 30, 2010 (Law 33/2010), and finally Law 31 of April 5, 2011 (Law 31 /

Israel – Advantages of Israeli Underlying Companies

Israel’s taxation system has undergone a major reform since 2003. The Income Tax Ordinance was revised as of 2003 pursuant to which an Israeli resident is taxed on worldwide income rather than the previous territorial tax system.  The Taxation of Trusts Law (the «Law»), effective as of January 1, 2006, while imposing taxes on Israeli

Economic Panorama of Greece

Uncertainty and Concern in and environment full of changes While young people appeal for jobs with decent pay, and the elderly complain over the payment of their persons, the Greek government has other ideas in mind. This is the result of over thirty years of ¨parting¨ during which the Greek nation maintained a steady increase

CYPRUS, an introduction

Cyprus as a Country In spite of the fact that Cyprus is usually associated with sandy beaches and an amiable climate, it is equally true that this small island is perhaps the one of the most up and coming jurisdictions in international tax planning. Cyprus is located in the eastern node of the Mediterranean Sea,

Significant amendments to Panama's Securities Law

Back in 1999, a law was adopted renovating an autonomous regulator and putting in place a modern regime to govern securities and capital markets in Panama, placing the local regulatory environment very much in line with legislation in force in more developed markets such as the United States (including, for example, the creation of the

STEP ASIA CONFERENCE 2011. Singapore. TRUSTS, FAMILIES AND BUSINESS – An Asian Focus.

As the Morgan & Morgan Group completes its third year of presence in Singapore, the fiduciary family in this ever thriving financial center was handsomely treated with the best the  industry has to offer, as  the 2011 edition of our STEP ASIA Conference took place at the Fairmont Hotel. The gathering was a resounding success,

Maritime Labor Convention, 2006 and Its Importance

The Maritime Labor Convention of 2006 is an instrument that contains an approximate of 70 different provisions on labor-related matters in the maritime industry, which was approved by the International Labor Organization (ILO), in view of the absence of minimum standards that offered labor security and decent living conditions to the seafarers. The Maritime Labor

Trust and Private Foundations: Securing the Future for the Next Generation

While many powerful countries are being affected with their own economic issues, the world is magnified by the impressive growth that China has experienced in the past few years. China’s openness and the current development of its business and financial environment have been giving its citizens greater opportunities of economic success and improvement of their

New immigration subcategory established by the Government of the Republic of Panama

The Republic of Panama has been a transit country historically, where people of different nationalities have come together forming a multiethnic and multicultural society. Foreigners along with locals have made great contributions to the development of the Panamanian nationality. The expansion of the Panama Canal, a modern system of public transport, new infrastructure projects like