Executive Decree 198 of 7 May 2021. Panama created a new visa opportunity, which allows an initial stay of nine months, that can be extended for an additional nine months. This program will boost the economy by stimulating tourism, restaurants, purchases and consumption, and services in general, resulting in a greater reactivation of jobs for…
RULE 1: CATEGORIES From now on your entity must be defined in Panama under one of the following CATEGORIES: PANAMANIAN SOURCE FOREIGN SOURCE NON-TAXABLE EXEMPT SOURCE RULE 2: DATA UPDATE To categorize your Foundation or Corporation, you must update the “Activity of your Entity” in the E-TAX system of the DGI in Panama, by means…
Panama has had a long relationship with the Americans, dating back to the construction of the Panama Canal and the Gold Rush in the 18th Century. This relationship with Americans for more than 97 years has undoubtedly put Panama at the top of the list of places that attract Americans and/or American retirees looking for a…
Agreement Between Panama Italy for Permanent Residency The “Treaty of Friendship, Commerce and Navigation between the Republic of Panama and the Italian Republic” was signed in 1966 and ratified by the Law 15 in order that Italian citizens enjoy the treatment of permanent residents in the territory of Panama. Thus, Latin American, European…
PANAMA PERMANENT RESIDENCY UNDER EXECUTIVE DECREE 343 Citizens from any of the 48 nations considered “friendly” to Panama can move here with their immediate family and acquire a faster permanent residency visa than any other Panama visa. To qualify, the friendly citizen can either buy an existing Panama business or create a new business…
Main Obligations of Law 52 of 2016: It is established that legal entities that do not carry out operations that are perfected, consumed or have their effects within the Republic of Panama are required to keep accounting records and supporting documentation, which must be available for a period of not less than five years Counted…