doing business in Panama- Tag Archives - Business News and Updates


Find the latest Legal updates and changes, industry reviews, regulatory updates, expert legal and accounting advice, Q&A with experts, and much more content.

Why Conduct an Entity Health Check in Panama?

Why Conduct an Entity Health Check in Panama?

Corporate compliance in Panama is constantly changing. Therefore, conducting an entity health check in Panama will ensure that your business or the company you plan to do business with complies with local legislation. Foreign executives doing business in Panama must undertake an entity health check regularly. Hiring a trusted local partner to review the status of your company in terms of corporate compliance will protect your business from penalties and avoid risks. What is an entity health check in Panama?  An entity health check is important to mitigate risks when doing business in Panama. An entity health check in Panama is an audit conducted by independent experts to examine accounting and legal compliance. An entity health check reviews if a company doing business in the country complies with tax declarations, labour regulations, monthly reports, and accounting registries. As a result, there is a better understanding of the overall corporate compliance landscape. The main objective of conducting an entity health check is to identify any discrepancies within a company that might affect business operations.  Why is it important to conduct regular entity health checks?    An entity health check in Panama is important to mitigate risks when doing business in the country. It covers various aspects of a company’s activities, including the legal, accountancy, tax and human resources practices. This examination seeks to understand if a legal entity established in Panama is and has been fully compliant with local corporate regulations....

Regulations for Buying Property in Panama

Regulations for Buying Property in Panama

For years, Panama has been one of the fastest-growing economies in Latin America. The country, with an average economic growth of 4.6%, promotes new opportunities for foreign investment in different industries. Buying property in Panama or investing in the country's real estate sector is a wise decision, as it is one of the most profitable industries to get involved in. Learn about the regulations, processes, and benefits of buying a property in Panama. Regulations to consider when buying property in Panama When buying real estate in Panama investors must be aware of civil and fiscal regulations. Foreign executives buying property in Panama must know that this process involves two different types of regulations: civil and fiscal regulations. Civil Regulations Civil regulations involve the private relationship between the buyer and the seller. Article 977 of the Civil Code establishes that the obligations derived from contracts have the force of law between the parties in question. In general, the parties will be free to negotiate their own property purchase and sale contract as long as they do not engage in illegal activities. Fiscal Regulations The fiscal or tributary regulations involve the taxes to pay for the purchase of a property in Panama. Property owners in the country must pay the 'property tax' (impuesto sobre bienes inmuebles) every year. You should be aware that buying property in Panama is not possible if there are current real estate debts. The current rate of real estate is divided in two types:  Rates applicable for principal property ( the principal...

Opportunities for E-Commerce in Panama

Opportunities for E-Commerce in Panama

Learn about the opportunities for e-commerce in Panama to understand options available to your when expanding your business abroad. Panama is a top contender for new business, as it is one of the most stable economies in Central America.   The increase of mobile and technological devices has contributed significantly to the development of e-commerce in Panama. Online services and products that are offered through online platforms provide new opportunities for investors that are looking to expand their business. Furthermore, Panama's geographic strategic location not only benefits the development of e-commerce in the country but also helps companies to conduct international business. In particular, those who distribute their products across many countries through an import and re-export process and take advantage of e-commerce in Panama. We outline the opportunities for e-commerce in Panama and how these can help you to incorporate or expand your business in the country. Panamanian e-commerce consumer profile and online shopping preferences 69% of Panama's population has access to the internet. Understanding the preferences and needs of online consumers is essential to get a clear overview of e-commerce in Panama. Likewise, it helps companies to build an effective strategy to boost online sales. The following figures provide an overview of the average consumer profile:  69% of Panama's population has access to the internet95% of internet users do online shopping (approximately 2.9 million people)E-commerce platforms in Panama are commonly used for buying...

Pin It on Pinterest