The principle of reverse solicitation allows financial services companies to offer their services to clients in foreign jurisdictions without requiring a local license or presence, as long as the client initiates the contact. This is especially relevant for cross-border financial transactions conducted via online platforms, where regulations vary between countries. In Panama, the legal framework […]
Panama joins the digital era with the Remote Worker Visa, allowing digital nomads to temporarily reside in the country (9 months, with the possibility of extension) without altering their employment status abroad. Applicants must demonstrate an employment relationship with an entity outside of Panama and that their work activities are primarily conducted from abroad or […]
The subcategory of Permanent Resident as Qualified Investor has been created in the Republic of Panama within the immigration category of Permanent Resident for Economic Reasons. This subcategory was created by Executive Decree No. 722 of October 15, 2020 promulgated through Official Digital Gazette No. 29136 of October 16, 2020, the date of its entry […]
Through Law 159 of August 31, 2020, the Special Regime for the Establishment and Operation of Multinational Companies for the Provision of Services Related to Manufacturing (EMMA), was created. Its purpose is to attract and promote investments in production processes and the generation of jobs and technology transfer, as well as to make Panama more […]
Today, August 3, 2020, Law 157 of the same date, establishing temporary employment protection measures for companies affected by COVID-19, was promulgated. The main aspects of this law are the following: This law applies to companies that closed their operations, totally or partially, from the beginning of the state of national emergency due to COVID-19 […]
On July 2, 2020, Executive Decree No. 100 of July 1, 2020 entered into force in Panama, extending the temporary suspension of the effects of employment contracts and dictating other provisions. Companies whose restart of operations has not been authorized The temporary suspension of the effects of the employment contracts of companies whose restart of […]
Country-wide curfew in Panama due to COVID-19 By means of Executive Decree No. 507 of March 24, 2020, a country-wide curfew was imposed in Panama starting on March 25, 2020 at 5:01 a.m., while the COVID-19 State of National Emergency lasts. The following institutions, persons, activities and companies are exempted from the above: 1. Members […]
Suspension of employment contracts due to COVID-19 As of March 21, 2020, Executive Decree No. 81 of March 20, 2020 came into force and effect in Panama, which, in relation to employer-employee relations, it establishes, in summary, the following: 1. For the application of Numeral 8 of Article 199 of the Labor Code, the declaration […]
Business shut-down due to COVID-19 and exceptions As a preventive measure of COVID-19, through Executive Decree No. 500 of March 19, 2020, the closing of commercial establishments and natural or legal person companies was ordered for 30 days from 11:59 p.m. March 20, 2020 in Panama, except those dedicated to the following activities: 1. The […]
Sanitary measures imposed in Panama due to COVID-19 As of March 16, 2020, Executive Decree 78 of March 16, 2020 came into force and effect in Panama, which, in relation to employer-employee relations, it establishes, in summary, the following: 1. Workers who are 60 years of age or older, as well as those who have […]
