Panama Update – Immigration
Panama Immigration Panama Immigration changes – by Executive Decrees Numbered 197, 198 and 199 the Panama Government has now introduced a new visa for remote workers and has amended the popular Friendly Nations Visa and the Reforestation Visa regimes. Panama Immigration Short Stay Visas for Remote Workers In recognition of more people wishing and being
Read MorePanama Update – Tax and Real Estate
Panama Tax Amnesty Panama has recently approved a new tax amnesty. The new amnesty provides for a discount of 85% on interest and penalties in relation to outstanding annual taxes for companies and foundations. Panama Tax Amnesty Expiration The amnesty will expire on 31 August 2021. This is a good opportunity to get your companies
Read MoreHatstone named as one of the world’s top private client firms
Top private client firm Hatstone Lawyers has been named by eprivateclient as one of the world’s top private client firms in its 2020 Top Offshore Law Firm rankings. The rankings are based on a survey of over fifty leading private client firms. They recognise the success of Hatstone’s fast-growing team of partners, lawyers and other professionals in the BVI, Jersey, London, Panama and South
Read MorePanama introduces a Beneficial Owner Register and extends the Tax Amnesty
Law No. 129, which deals with the establishment and regulation of a beneficial owner register, was approved in Panama on 17 March 2020 and became law on 20 March 2020. In summary, the new Law requires a resident agent to file certain information in relation to the ultimate beneficial owner (the “UBO”) at the Superintendence
Read MorePanama to introduce a beneficial owner register
Bill No. 169 (the “Bill”), which deals with the establishment and regulation of a beneficial owner register, has been approved by the Panamanian National Assembly. The Bill will become law once executed by the Panamanian President and published in the Panamanian Official Gazette. The Bill requires resident agents to file relevant information, such as details
Read MoreTax Amnesty for Panama Companies and Foundations
Panama has recently approved a new law, Tax Amnesty in Panama Law 99 of 2019 (the “Law”), relating to outstanding fines and penalties payable by Panamanian companies and foundations. Currently, companies and foundations that do not pay their annual tax of $300 and $400 respectively incur fines and penalties, which over time do add up.
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