Panama drawn into World Cup Group G with Belgium and England : Weekly News Roundup, December 1st, 2017

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Welcome to the Panama Weekly News Roundup! Here’s the latest.

Panama drawn into World Cup Group G with Belgium and England

Los Caneleros will have a difficult debut, being grouped with the Red Devils and the Three Lions while facing long journeys throughout Russia.

Panama will make its debut at the World Cup in Group G alongside Belgium and England.

Los Caneleros locked up the third position in CONCACAF qualification in October and are hoping to leave Russia not only having made the first-ever appearance but also having locked up the country’s first-ever World Cup win.


Panama welcomes superyacht investment.

As part of its development plan, the Panamanian government is encouraging investment in superyacht businesses and infrastructure.

On 26 June, 2016, the first vessel passed through the then recently completed Third Set of Locks of the Panama Canal. The completion of the $5.3 billion investment, which allows for far larger vessels to transit the Isthmus of Panama, forms one part of a strategy to develop Panama into the leading maritime logistics hub for the Americas, as well as a logistics hub par excellence, in general. Part of this strategy is the inclusion of developing Panama as a hub for superyacht business, as well as a destination, as a means of socioeconomic growth.

“Panama, in the merchant world, has become one of the most important places in the world. The main reason is our geographical location, secondly it’s the [Panama] canal, and more recently it’s been the development of two of the most important ports in this area of the world,” starts Juan Jose Espino, partner at Pardini & Asociados, a Panamanian law firm. “A consequence of that is that we have developed an infrastructure that is able, in many respects, to service the yachting world.”

Source: Super Yacht News

Panama recalls EU ambassador over tax haven list.

Panama recalled its ambassador to the EU from Brussels for consultations after the Central American country was included on a European Union blacklist of countries deemed as tax havens, the government said on Wednesday.

TEuropean Union finance ministers adopted a blacklist of 17 jurisdictions deemed tax havens on Tuesday, in an unprecedented step to counter worldwide tax avoidance, although they did not agree on financial levies for the listed countries.

“Given the unfortunate incorporation of the country in this discriminatory list, the Republic of Panama has decided to call its Ambassador to the European Union, Dario Chiru, to assess the steps to be followed moving forward,” the government said in a statement.

Source: Reuters


How to Enjoy the Holiday Season in Panama

The holidays are here, and in Panama, that means a full month of celebrations all over the country. There are religious traditions, secular ones, and everything in between. December in Panama is a time to enjoy local culture, family, nature, and of course, good food and drinks.

One of the most unique adventures you can have near Panama city is a tour of what’s commonly known as “Monkey Island.” This island gets its name (obviously) from the fact that it’s inhabited by thousands of monkeys, coming from a variety of species here in Panama. The island is uninhabited by humans, but tour companies offer afternoon trips that let you get up close and personal with its furry inhabitants. It’s easy to get to, fun for all ages, and a great way to learn about Panama’s wild animal population, and get a 1st-person view all at the same time.

Source: POLS Blog


About Manoj Chatlani

Manoj Chatlani is a Senior Partner at POLS Attorneys, a full-service law firm in Panama City, Panama. Specializing in offshore services, including asset protection, estate planning, offshore banking, and offshore corporations, as well as Panama immigration and real estate transactions, POLS Attorneys offers clients a streamlined solution to all their Panama legal needs. Manoj is a Panamanian lawyer and holds a law degree from USMA and earned a Masters in Communication Law and Panama Tax law.

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