GALA advised on the sale of phase one of the Penonome wind farm project located in Panama
Galindo, Arias y Lopez advised Goldwind International Holdings (HK) Limited and Goldwind International Penonome, S.a.r.l. in the sale to AES Panama, S.R.L. of their equity interests in UEP Penonomé I, S. R.L., the entity that in 2013 developed and currently operates the first wind farm in Panama with a power of 55MW. The wind project […]
Permit for the care of chronically ill children
Law No. 147 of April 15, 2020, which grants an exclusive license for the care of children or adolescents with leukemia, cancer, or degenerative disease in a severe or terminal state, was published on April 15, 2020, in the Official Gazette of the Republic of Panama. This Law No. 147 states that any parent working […]
The National Immigration Service extends deadlines in view of the COVID-19
In order to continue mitigating the risk of possible COVID-19 infections and in response to the instructions given by the Ministry of Health, the National Immigration Service has issued Resolution No. 7,051 of April 29, 2020, decreeing, among other things, the following: 1. To extend until May 15, 2020, the validity of residence permits […]
Measures Taken by the Panamanian Supreme Court as a Result of COVID-19
[vc_row][vc_column][vc_column_text] Pursuant to the formal declaration of the Covid-19 pandemic and its impact on the Republic of Panama, via Orders No. 146 of March 13, 2020 and No. 147 of March 16, 2020, the Panamanian Supreme Court adopted preventive measures, including the countrywide suspension -for a two-weeks period which may be extended-, of the judicial […]
Procedural Measures Taken by the National Authority of Public Services (ASEP) as a Result of COVID-19
Via Cabinet Resolution No. 11 of March 13, 2020, the Cabinet Council declared a State of National Emergency as a result of the effects caused by the Coronavirus disease. Similarly, Executive Decree No. 472 of March 13, 2020 and Executive Decree No. 489 of March 16, 2020, ordered extreme sanitary measures following the Declaration of […]
Final Beneficiary Registry
Recently, Panama’s legislative branch enacted Law 129 of March 17th, 2020 (the “Law 129”), which creates a “Private and Centralized Registry System for Final Beneficiaries of Legal Entities” (hereinafter the “Final Beneficiary Registry”). Pursuant to Law 129, the resident agents of the Panamanian legal entities must subscribe to the Final Beneficiary Registry and provide […]
COVID19: GALA’s Business Continuity
In compliance with the recommendations issued by the Government of the Republic of Panama in response to the COVID-19 virus, Galindo, Arias and Lopez has adopted various internal measures including Telecommuting (working from home) by all of our attorneys and staff. As your business partners, please rest assured that we will continue to support your […]
Panama regulates teleworking
Law No. 126 of February 18, 2020, which establishes and regulates teleworking (also referred to as telecommuting) in the Republic of Panama, was published on February 19, 2020, in the Official Gazette of the Republic of Panama; with effect the day after its publication. Law No. 126 establishes that the teleworking will be a voluntary, […]
GALA advised Cable Onda on a US$600 Million Global Notes Offering
Galindo, Arias & López acted as Panamanian counsel to Cable Onda S.A., a Panamanian corporation which is the leading provider of residential Pay-TV, fixed broadband Internet and fixed telephony in Panama, in connection with the global offering of unsecured notes in the amount of US$600,000,000.00, which proceeds will be used, inter alia, to repay certain […]
BVI – Rules on the Economic Substance Law
Following the implementation of the Economic Substance Act 2018 (the “Act”), which came into force in January 2019, the BVI International Tax Authority (ITA) published the Rules on Economic Substance in the Virgin Islands (“Rules”), which replace the draft version of the Economic Substance Code (“Draft Code”) that was released on April 2019. The Rules will take […]
