Legal Framework
From The Report: Panama 2014
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Recent economic, social and infrastructure developments have brought along changes in key legislation. This chapter provides an overview of current legal changes, highlighting areas such as business licences and employment contracts, as well as intellectual property protections and rules and regulations for maritime firms and vessels. In addition, it features a viewpoint from Francisco González-Ruiz, Partner, Icaza, González-Ruiz & Alemán.

Articles from this Chapter

Overview

Current trends: Legal changes are improving the environment for investors
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The Panamanian economy grew in the three years from 2010 to 2012 at an average annual rate of 9.7%, earning its place as the most dynamic economy in Latin America. This growth, driven mainly by the construction and mining sectors, has promoted the adaptation and updating of national legislation. The legal system is based on the formal sources of law, derived from the Constitution, which secures the right to private property, economic freedoms and the respect of individual rights, guaranteeing legal…

Analysis

On firm ground: The country’s long-standing prominence in trade is backed by a strong legal foundation
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Generally, individuals who decide to engage in a commercial activity in Panama are free to choose the type of legal entity. Legal entities such as the Panama private interest foundations and non-profit organisations are subject to special legal provisions according to which they cannot be established for the purpose of engaging in business activities on a day-to-day basis. Foreigners are able to engage in commercial activities within Panama, with the exception of a “retail business”, which is…

Viewpoint

Smooth transition: Francisco González-Ruiz, Partner, Icaza, González-Ruiz & Alemán, on Panama’s evolving legal landscape
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Panama’s territory of 75,420 sq km is a comparatively small area of land, with a population of a little under 4m people. However, the country has experienced and contributed to key events that have and will continue to shape global trade. Just 24 years ago Panama began a period of intense change, following the end of the authoritarian regime that ruled the country for two decades. Some of the most important changes included the strengthening of the legal structure and the nurturing of a climate…