Panama City - New Law Gives Additional Boost to Already Booming Real Estate Market
'Law 41', recently passed by Panama's National Assembly, created a stir throughout the region earlier this month as savvy investors recognized its potential to give a further boost to the already booming real estate market in the Republic of Panama. The Law, designed to encourage the establishment of Multinational Companies in Panama, gives exemption to Multinationals from the payment of income tax in the Republic of Panama for all services provided to any entity domiciled outside Panama. In addition, it allows licensed Corporations to hire trusted foreign employees to fill management positions in the company authorizing them to work and reside in Panama which could spell an influx of international professionals moving to Panama. ...
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