The Panama Primeview, May/Junio 2024 Edition
Prime Solutions Tax & Legal
We support relocation, investing and doing business in Panama. We offer immigration, legal, accounting & tax services
Welcome to "The Panama PrimeView," your go-to source for the most valuable content on Panama taxation, business, immigration, accounting, real estate, and much more. In this newsletter, we are excited to bring you a curated "digest" of the latest insights, trends, and expert perspectives on taxation, legal matters, business strategies, immigration updates, real estate developments, and beyond.
?? We are back with Part 2 and Part 3 of our Q&A on the Panama Pensionado Visa!
Exploring the Panama Pensionado Visa! This visa is a fantastic opportunity for retirees looking to relocate to Panama. It offers numerous benefits and a straightforward application process.
?? Eligibility Requirements: To qualify, you must prove a monthly income of at least $1,000 from a pension or retirement fund.
?? Cost of Living Benefits: Holders enjoy discounts on restaurants, flight tickets, medical services, entertainment, transportation, and more, making it an affordable option for retirees.
?? Renewal and Permanency: The visa does not need to be renewed as it leads to permanent residency.
Let's dive deeper into your questions. #PanamaPensionadoVisa #RetireInPanama.
?? Many of you asked about financial requirements for the Pensionado Visa.
?? In this session, we break down every detail to ensure you know exactly what’s needed to qualify. hashtag#FinancialTips hashtag#ExpatLife
???? Still have questions? We are here to help!
?? Drop your queries below or in the comments of our video session. Your perfect retirement is just a conversation away!
?? Thinking of starting your own business or extending your current business in Panama? ?? Panama is your go-to destination! With AMPYME’s support, entrepreneurs enjoy significant benefits like tax exemptions. #Entrepreneurship #Panama
?? Did you know? Registering your business in Panama with AMPYME could qualify you for a two-year tax exemption! ?? Dive into a favorable business environment designed for growth. #BusinessInPanama #TaxExemptions
?? Panama welcomes local and international entrepreneurs! Whether you're starting fresh or expanding, AMPYME makes it easier and more profitable. ?? #GlobalBusiness #Startups
?? Unlock the full potential of starting a business in Panama with our latest video. Get detailed insights and step-by-step guidance on how to thrive with AMPYME’s support.
Giovanna Bernal joined Praxity Global Tax Conference in Madrid.
Our founding partner Giovanna Bernal, TEP joined Praxity Global Tax Conference in Madrid Spain. Praxity is an alliance of top professionals around the world, including topics such as international tax, global mobility, private clients issues and tax compliance.
Praxity, a global alliance composed of over 55 independent firms across more than 120 countries, continues to strengthen its position as a leading global network of business advisors. Members are?like-minded,?high-quality firms, handpicked based on rigorous membership requirements, who benefit from the sharing of best practices.
With its executive administrative team based in the UK, Praxity facilitates seamless collaboration among its members, offering expert solutions in?accounting, taxes, advisory, outsourcing, and audit services. Prime Solutions Tax & Legal is proudly part of this alliance.
?? Panama Update: The Tax Procedure Code (Law 76 of February 13, 2019) has officially come into full effect as of June 1, 2024! This significant legislative change aims to streamline and enhance the tax procedures. Stay informed and ensure compliance with the new regulations.
1?? ?? Thinking about offering services in Panama? It's a great place with booming opportunities! But first, let's talk about the basics: do you need a work permit? ????
2?? ?? If you're a foreigner planning to offer services in Panama, the short answer It depends!—you might need a work permit. Let's break it down.
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3?? ?? For temporary work, like consulting or specific projects, you might qualify for a Short-Term Work Permit, valid for up to 3 months. Perfect for short gigs!
4?? ?? Planning to stay longer? You'll need a full work permit if you will work for a company established in Panama. Panama offers several types, including those tied to specific visas, like the Friendly Nations Visa.
5?? ?? Ensure your employer is on board. In Panama, your work permit application is usually tied to your employer, who must also meet certain legal requirements.
6?? ?? Self-employed? Panama has options, but they're more complex. You might need to establish a local entity or meet specific self - professional criteria. In some cases, you won't need a job permit to offer your service independently
7?? ?? Any questions? Navigating work permits can be tricky, but understanding the basics is the first step to a successful venture in Panama.
8?? ?? Want more details ? Check out our video Click here to watch now
?? Are US stocks held in a Panama account taxed in Panama? Let's dive in! ????
?? Panama's tax system generally exempts income generated outside the country. This means your US stock investments could be tax-free in Panama! ??
?? Curious about how this applies to your situation? We’ve got you covered! Book a Zoom consultation with our expert team today. ???
?? Watch our detailed video on navigating international investments and tax regulations. Ensure you make informed decisions! ??
???? Panama and the Global Minimum Tax (GMT), the Chamber of Multinational Company Headquarters of Panama supports Pillar 2.
The GMT is a 15% corporate tax on companies exceeding the threshold of $842,520,000.00 (750 million euros). It is estimated that this tax could increase global tax revenue by $150 billion annually. So far, around 136 countries have already implemented it, and Panama is in the process of doing so. This is a result of the Inclusive Framework on Base Erosion and Profit Shifting (BEPS), proposed by the Organisation for Economic Co-operation and Development (OECD) and the Group of Twenty (G20).
?? Unlock Panama Residency in Less Than 30 Days! ??
??? Curious about securing your Panama Qualified Investor Visa quickly and efficiently? Our expert attorney, Giovanna Bernal, has the answers!
?? Discover the fast-track route to Panama residency with tailored guidance on eligibility, investment options, and the step-by-step application process.
?? Avoid common pitfalls and ensure a smooth experience with our professional insights. Our streamlined process helps you get approved in under 30 working days!
??? Ready to start your journey towards becoming a Panama resident? Book your Zoom consultation with Giovanna Bernal today!
?? Click the link to schedule your appointment and unlock your Panama residency now! https://lnkd.in/ejZsXGgq
We are thrilled to share an exclusive interview with Charlotte Van Horn, the dynamic CEO of Black Expats in Panama, hosted by attorney Giovanna Bernal!
??In this insightful conversation, Charlotte reveals her journey of launching a successful business in Panama. From overcoming challenges to seizing unique opportunities, this interview is packed with practical tips and invaluable advice for aspiring entrepreneurs. Link to watch video on comments.
?? BEIP Tour No. 28??Attorneys Adriana Rivera and Marcos Guzman joined the welcome dinner of Black Expats in Panama (BEIP) Tour No. 28! They shared knowledge and insights about residencies available for expats in Panama. A heartfelt thank you to Charlotte Van Horn , the dynamic founder of Black Expats in Panama, for extending this invitation! ????
We hope you found value in this edition of our newsletter, and we invite you to reach out with your questions, feedback, or specific topics you'd like us to cover in future issues. Your input is invaluable, and we are here to serve you better. Stay tuned for exciting updates and insights in the upcoming editions of The Panama PrimeView.