Panama: 25% discount for early payment

We are pleased to inform you that the government of the Republic of Panama has enacted Law No. 401 on October 5, 2023 which establishes a special temporary measure providing a 25% discount on the Annual Government Tax for Panamanian private interest foundations and corporations that render their payment before November 30, 2023.Article 21 of this law states […]

Panama | New legislation on accounting records

Accounting Records Panama New Legislation

Accounting Records / Panama New Legislation. Hazel Jaramillo Head of Client Accounting Services [email protected] From the moment you decide to start operating a company, it is necessary to be prepared for the fact that this implies certain requirements for transparent management in front of clients, employees, strategic partners, banks, and regulators. Keeping accounting records in […]

Panama | Accounting records requirements for legal entities

Accounting records requirements (Panama) | Law 52 of 2016, which establishes the obligation to keep accounting records requirements for certain legal entities, through Law 254 of November 11, 2021, introduced important amendments for legal entities that do not carry out operations that are perfected or consumed or have their effects within the Republic of Panama, as well as for legal […]

Anguilla, Bahamas, and Panama entities overview.

anguilla company formation

Anguilla company formation, Bahamas company formation, and Panama company formation. At OMC Group we specialize in corporate and fiduciary services, which include company and foundation setups, structuring of trusts, and many other services in multiple jurisdictions. For us, it is very important that our clients are well-oriented in each of the jurisdictions we offer. The […]

Panama | New and important legislative initiatives

Anti Money Laundering Panama took action Image of Panama City

Anti Money Laundering law is an issue addressed by Panamanian legislators who continue to face some of the most important elements in the fight against organized crime. The government is seeking to add to Panama’s already extensive legislation on Anti Money Laundering law, to further enhance the fight against organized crime.  The aim is to […]

5 Best practices to safeguard your legacy

Economic Legacy

Economic legacy | There are 5 best practices to safeguard your economic legacy that has proven to be highly effective for decades. Perhaps you think that because it is the 21st century these practices may have lost credibility, but the rules for legacy protection have been governed by the same principles since the beginning of […]

Panama | Register of beneficial owners overview

Corporations in Panama Register of beneficial owners

Panama has taken a significant step towards financial transparency by introducing a private register of beneficial owners for corporations in Panama. This move, established through Law 129 of 2020, positions Panama as a proactive player in the global effort to enhance corporate accountability. The establishment of the Registry System for Beneficial Owners of Legal Entities […]

Why Panama? | Residency program

Panama residency program OMC Group Avenida Balboa Panama City Image

Panama Residency program | Many clients ask us why Panama and not Miami, for example.  Trying to be objective – which is not an easy task – we must say that the advantages that Panama offers are innumerable. In addition to the beauty of our country and its people, Panama offers key advantages that make […]

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