PATTON MORENO & ASVAT
 
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Getting the Deal Through – Loans & Secured Financing 2016 with contributions from Ms. Ivette Martinez. Reproduced with permission from Law Business Research Ltd. This article was first published in Getting the Deal Through: Loans & Secured Financing 2016, (published in August 2015; contributing editor: George E Zobitz, Cravath, Swaine & Moore LLP) For further information please visit Click Here
Tax Regulations in Panama: The Place to invest in the Americas by Elias Solis Gonzalez. This article appeared in the Lawyer Issue Magazine 2015 Click Here
The International Comparative Legal Guide to Shipping Law 2015 with contributions from Ms. Khatiya Asvat and Ms. Nadya Price

"This article appeared in the 2015 edition of The International Comparative Legal Guide to: Shipping Law; published by Global Legal Group Ltd
(http://www.glgroup.co.uk/), London.” (please hyperlink www.iclg.co.uk)
Getting the Deal Through - Aviation Finance and Leasing 2015 with contributions from Ms. María de Lourdes Marengo.

Reproduced with permission from Law Business Research Ltd. This article was first published in Getting the Deal Through: Aviation Finance & Leasing 2015, (published in June 2015; contributing editor: Mark Bisset, Clyde & Co LLP). For further information please visit
www.gettingthedealthrough.com
Adding new talents

Ensuring our firm’s commitment for continued growth, we are pleased to announce the addition of new associates and assistant attorneys to strengthen our legal team to guarantee our customers an efficient and timely service.

We welcome Demetrio Rodriguez, Harry Aswani, Jorge Ventre and Michele Hibbert, who with their talent, experience and dedication will join the legal teams in the Practice Areas of Administrative Law, Commercial Law, Immigration and Labor Law, Real Estate and Corporate Law, among others.
This article appeared in the 2014 edition of The International Comparative Legal Guide to: Shipping Law; published by Global Legal Group Ltd, London (http://www.glgroup.co.uk/)
Reproduced with permission from Law Business Research Ltd. This article was first published in Getting the Deal Through – Aviation Finance & Leasing 2014, (published in June 2014; contributing editor: Mark Bisset, Clyde & Co LLP) For further information please visit www.GettingTheDealThrough.com
This article appeared in the 2014 edition of The International Comparative Legal Guide.
New Law To Regulate Spin-Offs As Corporate Reorganization Scheme.
Securities Update: Regulation Of Forex Activities In Panama
Securities Update: Recognized Jurisdictions
Solar Energy Article
AMP Newsletter
This article was first published in Getting the Deal Through – Restructuring & Insolvency 2013, (published in November 2012; contributing editor: Bruce Leonard of Cassels Brock & Blackwell LLP). Reproduced with permission from Law Business Research Ltd. For further information please visit www.GettingTheDealThrough.com
A Practical Insight to Cross-Border Securitisation in 41 Jurisdictions
Tax update: Law 31 of 2011
Panama Chapter RI 2011
PMA Tax Update - Ley 49 - 2009
Offshore Banking Regulations in Panama
Hedge Fund Admin. Roundtable
Article published in Global Property Guide
Panama’s New Limited Liability Corporation Law
Article was first published in Getting the Deal Through – Restructuring & Insolvency 2009
Newsletter Immigration Law
"This article appeared in the 3rd edition of The International Comparative Legal Guide to: Securitisation ; published by Global Legal Group Ltd, London www.iclg.co.uk"

Tourism

PANAMA’S INVESTMENT ENVIRONMENT

  • It has one of the most complete banking centers of Latin America.
  • Its legal tender is the United States of America dollar.
  • Panama counts with one of the most complete logistic and multimodal centers of the world.
  • Retirees and pensioners can benefit from a special tax incentives, as well as flexible immigration programs.
  • Tourist investments have diverse exonerations related to import taxes on goods, raw materials and construction equipment, among others. Additionally, the investor will enjoy income tax and real estate tax exemptions.
  • Panama has a reliable system of communication with several optical fiber networks that communicate it with any country around the world.

TOURISM DEVELOPMENT ZONES IN PANAMA

Zone 1. La Amistad

Location: Pronvince of Chiriqui, Province of Bocas del Toro
Characteristics: La Amistad International Park and the Volcan Baru National Park
Strategy: Develop Ecological Tourism
Investment Possibilities: Ecotourism hotels, basic infrastructure

Zone 2. Bastimentos

Location: Province of Bocas del Toro
Characteristics: Magnificent beach areas with transparent waters
Reefs of world-wide quality
Afro Antillean culture
Unique marine park of the country
Strategy: Develop Ecological, Cultural and Recreation Tourism
Investment Possibilities: Develop tourist .

Zone 3. Arco Seco

Location: Province of Herrera
Province of Los Santos
Characteristics: Singular traditions and sociocultural events
Strategy: Develop Pedasi as a tourist development center based on the traditions and folkore. To consolidate Chitre and Las Tablas as complementary centers.
Investment Possibilities: Develop tourist .

Zone 4. Farallon

Location: Province of Panama
Province of Cocle
Characteristics: 75 kilometers off the Panamanian Pacific Coast
Strategy: Develop Resorts
Investment Possibilities: Golf Course (18 holes) and a Club House
250 Tourist cabins for rent
Mall
Recreational park and sport clubs

Zone 5. Metropolitan Area

Location: Province of Panama
Characteristics: Shopping, Commerce, Historical Monumental Centers, Cultural Centers, National Parks and Protected Areas
Strategy: To incorporate existing attractions to the tourist centers, including the Inter-Oceanic Region and the Panama Canal
Investment Possibilities: Hotels for ecotourism and businessmen.

Zone 6. Portobelo

Location: Province of Colon
Characteristics: Beaches, diving, Portobelo’s National Park and a Historical Monuments of the 16th, 17th and 18th Century.
Strategy: To turn the region in one of the main tourist centers of the Caribbean by including the existing historical cultural component to the future tourist development
Investment Possibilities: Develop tourist lodgings in adjacent areas

Zone 7. San Blas

Location: Region of San Blas
Characteristics: Reefs, exotic islands, white sandy beaches, crystalline waters, singular and exotic indigenous culture. This area is populated by the majority of the Kuna Indians.
Strategy: To develop the tourist potential of the Region in order to compete at international quality levels.
Investment Possibilities: Technical financial training to the Kuna Indians Financing through a special credits system

Zone 8. Peral Islands

Location: Las Perlas Archipelago (Pearl Islands)
Characteristics: More than thirty (30) islands with eighty three (83) beaches of the highest quality.
Exceptional Sport fishing.
Ideal reefs for the diving and snorkeling.
Strategy: To turn the region in one of the main tourist centers of the Caribbean
Investment Possibilities: To promote private investment in the islands, by developing attractions and products with tourist potential

Zone 9. Darien

Location: Province of Darien
Characteristics: The National Park of Darien which is ideal for ecological and tourism of adventure. It was declared by UNESCO as a Reserve of the Biosphere and the Human Kind.
Strategy: To develop ecotourism centers in Pirre and in the Cana Valley.
Investment Possibilities: To increase the capacity of lodgings and to improve the quality of the services to the tourist.

Zone 10. Veraguas

Location: Province of Veraguas
Characteristics: National Park of Coiba (declared Patrimony of the Humanity) ideal for the ecological and adventure tourism. It offers an exceptional biodiversity in ecosystems, flora and fauna. Beautiful beaches and coral reefs
Strategy: To develop ecotourism centers, resorts, inns, cabins, floating hotels.
Investment Possibilities: To increase the capacity of lodgings and to improve the quality of the services to the tourist.

Tax incentives: Special Tourism Development Zones

  • Exoneration for twenty (20) years of the real estate tax over the land and the improvements, as long as the real estate is used for tourist activities.
  • Exoneration for the term of twenty (20) years of the payment of the import tax and the sales tax levied over imported materials, as long as those materials are not produced in Panama or do not have the same quality or are not available in the same quantity in Panama.
  • Exoneration for the term of twenty (20) years of the payment of any tax, contribution or encumbrances in regards to the use of ports, berths or airports built by the investor.
  • Exoneration for the term of fifteen (15) years of the income tax derived from the activity of the investor.
  • Exoneration for the term of twenty (20) years of the income tax levied over the interests received by the creditors in respect to operations directed to the investment in the tourist activity which will be performed by the company.

Initial Contact


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Paseo Roberto Motta
Capital Plaza, Floor 8
Costa del Este, Panama
P.O. Box 0819-05911
Panama, Republic of Panama

Phone number:
(507) 306-9600
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(507) 263-7887

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