Eskildsen & Eskildsen attorneys at law in Panamá
Eskildsen & Eskildsen since its foundation is set up to offer international services to clients in Europe, North America and United Arabs Emirates. Today clients from all parts of the world have contacted our firm for counsel on international matters on which a Panama legal structure assist on the investment. Our services includes other attractive jurisdictions, since the foundation in 1979. The firm is in capacity of the benefit to set up Corporation or Private Foundations, and may assist to establish Panama Trust with off shore assets and activities, on time and effectiveness, now with more than forty (40) years of practice.
Panama is known to be a country which welcomes foreign as well as domestic real estate investment. A great precedent of foreign investment is the one hundred years relation with the U. S. on the operation of the Canal and the management of the entrance Port to the Canal in both Oceans, which motivate private investment in real estate, among others. The Constitution and the law as well as public institutions, protect and guarantee investors on their endeavors. The U.S. currency which is the legal tender, allows a clear understanding of investments on properties.
As for Real Estate, the firm has acted as counselors to high end Developers in the last three decades. The services include complicated financing endeavors for Developers as well as purchaser, which related to the legal structure of Hotels, Marinas, Hospitals, Commercial Malls and Residential communities of Condominiums. We have specialized attorneys and support staff to provide effective services to handle complex property purchase and sell matters. The advise on transfer tax, Tourism incentives and the recent enacted tax law on reduction on Property Tax, are a daily part of the Firm practice.
The regulatory framework for leasing contracts, whether commercial or residential, is Law 93 of October 1973, modified by Law 28 of March 12, 1974, Executive Decree 37 of May 15, 1974 and Executive Decree 7 of January 10 of 1995.
In this article we are only going to explore the rights and obligations of the parties in a rental contract under Executive Decree 7 of January 10, 1995. This decree refers exclusively to leases of the following classes:
⦁ Lease contracts for rooms furnished in private real estate intended for this activity on a permanent or occasional basis.
⦁ The leases of private immovable property and destined for habitation, which are celebrated as of the effectiveness of this Decree.
⦁ The lease contracts of private real estate destined for commercial establishments, professional use, industrial or educational activities.
The Panama Maritime Authority is the responsible institution to implement the Nation Maritime Strategy. On the other hand, the Panama Canal Authority, an autonomous public entity created by and amendment to the constitution on December 1993 transit from one ocean to the other, and exclusively responsible for the management and maintenance of the waterway, known as the Panama Canal. The Canal waterway must remain open and neutral, according to a singed and ratify neutrality Treaty with the United States in 1977.
Similar expertise applies for registration of all type of Vessel. The financial aspect, when funds come from various institutions and from different jurisdictions. Need to be secured by mortgage registrations. Vessels managers are known to demand an understanding of the international market and appreciated when Panama has ratified key international conventions. Is understood by many that the Maritime Labor Convention of 2006 and the International Ballast Convention of 2006 are both, part of the protection and required by seafarers and for the sound environment on the sea. and it is now clear that , the “level playing field” applies to all Open registries, Panama been the leader. Managers know that the proper support from Panama Maritime Authorities, will be granted through our office assistance, on security matters for Ship when transiting “piracy corridors’” as well as support on Seafarers documentation when demanded by Port State Controls. The effective accidents support due to harsh weather condition, as well as Seafarers correct training and licensing, need to be provided with a 24/7 services, and this is only handled by experts, and the firm remains in the for front, of this practice.
Demonstrate a wide range of services ranging from legal advice in proceedings, corporate structures, mergers and acquisitions, transfer of shares to the liquidation of a company. In the firm there are bilingual attorneys at law so it is an added value of the firm.
Some of the subjects that we cover are:
⦁ Fusions and acquisitions
⦁ International financing activities,
⦁ Formation of legal vehicles suitable for investment (companies, trusts, offshore companies, private interest foundations, etc.)
⦁ Planning and structuring of commercial strategies and associated tax benefits.
⦁ Sales and distribution contracts
⦁ Resolution of disputes between shareholders
⦁ Issues of competences and monopolies
⦁ Strategic alliances
⦁ Foreign investment and advice in the establishment of free trade zones
⦁ Technology transfer and foreign investment
⦁ Compliance department
For years we capitalize on the experience of our professionals specialized in International Trade, to improve and initiate new business practices under the various treaties that benefit the region.
Eskildsen & Eskildsen have created tools that allow investors to identify their advantages and position with respect to exporters who access the world’s major markets.
- Legal advice
- Consulting during the project development process.
- Collaboration on the Master Planning and zoning.
- Collaboration with Environmental Consulting.
International legal services, Commercial and Legal Advice. The Firm includes attorneys and personnel with advice on tax matters that includes Free Zone, Tourism and Immigration operations.
We offer our clients legal services related to a wide range of business needs. Come to us to obtain experience, knowledge, innovation and results with the production of costs.
- TAX ADVICE
It is a fact that Panama has become the new retirement destination for immigrants, due to the opportunities and conditions that are offered, such as: A dollar economy, Low Cost Living, Democracy and Political stability, Property Tax Exemptions, no Hurricane nor Earthquake, among others. Some of the mentioned elements are the reason why most Buildings and Residential are been promoted to the international market. The increasement of international purchasers has also attracted foreign Real Estate Developers and Investors from abroad, who are demanding Immigration Status in Panama.
Keeping those expectations the Government has taken administrative measures providing foreign investors, developers and purchasers several types of Visas, to which they could apply.
requires any of our services?
do not hesitate to contact us