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October 31, 2019

The importance of having a data-protection compliance program

Fanny Evans, Senior Associate, Morgan & Morgan In 2013, Virginia Ginni Rometty – CEO of IBM, said “I would like you to think of big data as the next natural resource that can be to our era what steam, electricity and oil were for the Industrial Age.” Probably, you have read or heard: Data is
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October 28, 2019

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
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October 22, 2019

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
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July 23, 2019

Considerations before starting a business in Panama

María Eugenia Brenes, associate of the Intellectual Property and Corporate Law Department of Morgan & Morgan maria.brenes@morimor.com 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
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July 23, 2019

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
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June 14, 2019

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)
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