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

Panama wins opener of CONCACAF Women’s World Cup qualifying.

Marta Cox, Kenia Rangel and Erika Hernandez all scored to give Panama a 3-0 victory over Trinidad and Tobago in the group stage of the CONCACF Women’s World Cup qualifying tournament Thursday.

Panama, ranked 66th in the world by FIFA, was making just its third appearance in the CONCACAF Women’s Championship. Los Canaleros finished second behind Costa Rica in Central American qualifying to earn a spot in the field.

The game was the first of a double-header for Group A, followed by the United States against Mexico. The top three finishers in the eight-team tournament earn berths for next summer’s World Cup in France. The fourth-place finisher will face Argentina in a playoff for a spot.

Source: Washington Post

Over 230 cruise ships set for visit the Panama Canal in 2018/19.

The Panama Canal administration expects to receive approximately 234 cruise ships through the Panamax and Neopanamax locks during the upcoming 2018-2019 cruise season.

The first transit will occur on October 5 with Seven Seas Mariner on a northbound transit travelling from the US West Coast to the US East Coast.

‘As the second full cruise season with the expanded Canal, we aim to build off our recent milestones and success,’ said Panama Canal’s senior international trade specialist Albano G. Aguilar.

Source: Seatrade Cruise News

Panama Maritime Authority to implement REG Code.

The Panama Maritime Authority (PMA) has reported that it is currently working on the implementation of the Red Ensign Group Yacht Code (REG Code), to come into effect on 1 January 2019.

By implementing the REG Code, an existing void is filled in the Panamanian Merchant Registry as far as commercial yachts are concerned. Previously, commercial yachts fell under the auspices of Decree No.18, 30 May, 1984 and were, therefore, legislated for by out of date practices in a supplementary manner.

“The [REG] Code is based on what is stipulated in the International Convention for the Safety of Life at Sea (SOLAS), the International Convention on Load Lines, the International Convention on Training Standards, Certification and Guards (STCW in English) of the International Maritime Organisation (IMO), it also allows yachts to receive international documentation that allows them a free commercial exploitation under our Registry, in a responsible, current and secure way,” explains Juan Jose Espino Sagel, partner at Pardini & Asociados.

Source: Superyacht News

Five Reasons You Should Move Your Family to Panama!

When looking to live and invest in Panama, you’re sometimes not just making a decision for yourself, but for your whole family. Relocating your family can be tough, especially if you have kids. Luckily, in Panama, there’s lots of potential for kids, including expats who relocate.

Whether you’re moving to Panama for just a few years, or here for the long haul, you can find family-friendly activities, housing, recreation, and schools to fit your need. To give you a little taste of what’s in store for you and the family in your Panama adventure, here are 5 great reasons that make Panama a family-friendly destination.

Source: POLS Blog

The post Panama wins opener of CONCACAF Women’s World Cup qualifying. : Weekly News Roundup, October 7th, 2018 appeared first on POLS Attorneys.

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

Panama vows to combat drug trafficking, asks for help to eliminate ‘blood money’ driving scourge

The most effective way to solve problems that affect the world’s people is by placing human beings at the centre of all decisions, the President of Panama told the United Nations General Assembly today, stressing that his country, which joins North and South and which is bordered by the Atlantic and Pacific Oceans, would continue to be a beacon of cooperation and understanding.

“I have always been aware of Panama’s calling as facilitator of dialogue and understanding; a country [that will] work in the service of the international community [and] contribute our resources to address the common problems affecting the region” contributing to wider peace and security, Juan Carlos Varela Rodriguez said in his address to the Assembly’s annual general debate.

Source: UN.org

A New Digital Currency, AML Bitcoin, Makes Landfall In Panama.

As America braced itself for Hurricanes Harvey and Irma in the past few weeks, the cryptocurrency world endured its own massive storm. Though prices are rising once again, the most popular digital currency, Bitcoin, plummeted on news that China shuttered all cryptocurrency exchanges, and JP Morgan Chase Chairman Jamie Dimon threatened to fire any of his traders who bought the coin.

To add fuel to the fire, North Korea announced it would increase its attempts to hack into the South Korean Bitcoin exchanges to steal billions of dollars in Bitcoin and evade global sanctions, making the anonymous digital currency — already the choice of terrorists, drug dealers and organized crime around the world — seem unstable and dangerous. This perfect storm ravaged the digital currency world.

Source: Investors Business Daily

Panama to extradite ex-Mexico governor on corruption charges

Mexican prosecutors say Panama has agreed to extradite a fugitive ex-governor sought on for corruption charges. A statement Monday from the Attorney General’s Office says former Gov. Roberto Borge can still appeal the Panamanian’s government’s decision. He was detained in Panama in June before he was to board a flight to Paris.

Borge was governor of Quintana Roo from 2011 to 2016. The Caribbean coast state is home to Cancun and other resorts. Prosecutors seized 25 state properties worth hundreds of millions of dollars that were allegedly sold to private parties at a fraction of their value during Borge’s time in office. Media reports have linked the buyers to him. Borge is the third ex-governor from President Enrique Pena Nieto’s governing party to face corruption allegations.

Source: Washington Post

5 Reasons Why You Need to Stop Making Excuses About Moving to Panama

Be honest, you’ve been thinking about moving to Panama for some time now, but something always keeps you from pulling the trigger. You do research, you talk with other expats and retirees on forums, you endlessly search and watch videos on YouTube, and you even daydream about it. If any of this resonates with you, you’re not alone.

1. You’re not getting younger.
As each year goes by, we all age. We all see our future in a different light, and spend our time as we see fit, year after year. If you’re spending years considering your move to Panama without actually doing it, think of all the time you could have spent actually enjoying the country rather than simply thinking about it. The sooner you do it, the more time you can spend your golden years here. Trust us, you’re not getting younger.

Source: POLS Blog

The post A New Digital Currency, AML Bitcoin, Makes Landfall In Panama. | Weekly News Roundup, September 21st, 2017 appeared first on POLS Attorneys.

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

“My Vibrant, Exciting Life in Cosmopolitan Panama City.”

An interesting take on moving to Panama City as an expat, from a retiree that loves the fun city life, but also the laid-back pleasures that make Panama so popular.

About a month ago, I packed up my things and left Panama City for a rented house in the countryside…and it was glorious. I wrote to friends about the peace and serenity of “my little Quietville.” And when my one-month lease expired, I got teary-eyed…a part of me wanted to stay tucked away in the lush green mountains.

But as I drove home, I could feel the excitement creeping back in. I was back in good old Panama City…where excitement is in the very air you breathe.

You’ve probably heard all the hype. This is a city of gleaming skyscrapers, malls, world-class hospitals…you name it. An astonishing array of luxury SUVs trundle along modern roads. High-speed internet and cell service have helped consolidate this as one of the region’s busiest flight and business hubs. You’ll find every amenity and product imaginable.

Source: International Living

Panama Papers case decision was unanimous: SC judge.

A Supreme Court judge on Wednesday observed that the decision of Nawaz Sharif’s disqualification in Panama Papers case was unanimous.

The remarks came as the court began hearing review petitions filed by former prime minister Nawaz Sharif and his sons against apex court’s July 28 order in Panama Papers case.

A larger bench of the top court headed by Justice Asif Saeed Khosa and comprising Justice Ejaz Afzal Khan, Justice Azmat Saeed, Justice Ejazul Hassan and Justice Gulzar Ahmed are hearing the petitions.

Source: The News (Pakistan)

Blockchain Embassy Opens for Business in Panama City.

A new location for bitcoin and cryptocurrency enthusiasts, entrepreneurs, activists, iconoclasts, connoisseurs, and the general public has opened in Panama. It is called the Blockchain Embassy. It is located in the Balboa Boutiques Strip Mall of Balboa Avenue in Panama City.

The space has crypto clothing and other merchandise for sale. It has a cafeteria, craft beers for sale, hardware wallets on display, a coffee shop, and even a working space.

A press release sent to bitcoin.com, said the embassy will also start giving cryptocurrency workshops and presentations. Everyone is welcome to come and engage with the Panama crypto community. The Embassy press release elaborated on how it accepts payment and provided more information:

Source: Bitcoin News

Panama/China Plan on Building Cross-Country Railroad

In a joint press conference given by Panama’s Foreign Minister and Chinese Chancellor Wang Yi this September 17th, it was announced that plans were being examined as to the feasibility of constructing a 500km-long light railway to connect Panama City with David. This could have the potential to be big news for both domestic and foreign business interests, as well as tourism between the country’s two principal cities.

More than likely the railway would have to be built alongside the current Panamerican Highway infrastructure. The train would begin on the west side of the Panama City suburb of Arraijan, where Line 3 of the Metro is scheduled to end and continue to the center of David, where a new train terminal would be constructed. This would link Panama City’s urban Metro transport to the railway, and essentially connect it to the airport in the east by transfer. It would also avoid construction within the center of the city, which is critical for any new project of this size. Both cargo and passenger trains would use the rails, meaning that the size should be pretty big, and also requiring many local stations and unloading docks to be built in the process.

Source: POLS Blog

The post Panama/China Plan on Building Cross-Country Railroad | Weekly News Roundup, September 16th, 2017 appeared first on POLS Attorneys.

POLS have announced the opening of a new office in Coronado, Panama, offering clients located outside of Panama City, otherwise know as the interior, services including offshore legal advice, corporate formation assistance, immigration consultation, and real estate transactions. The firm is expanding from its current presence in Panama City after 11 years of successive growth, providing evidence of growing market demand for reliable legal assistance in the Republic of Panama. The new office will officially open on November 1st, 2013.

Panama Offshore Legal Service’s new office is located in the heart of Coronado, inside of the Mail Boxes Etc, next to El Rey Supermarket. As Panama City continues to expand westward, and the Coronado beach area becomes more densely populated, the newly established presence in the area will give nearby residents access to first-class legal services without having to travel to the capital.

“We’re ecstatic to be opening our second office, as well as hiring new attorneys and legal advisors,” said Manoj Chatlani, Senior Partner of POLS. “We see the Coronado office as being the key to our success along the Pacific coast of Panama, and we’re looking forward to helping more of our clients find face-to-face representation.”

Prior to the opening of the Coronado office, POLS was based exclusively in Panama City, Panama. With the centrally located office near Avenida Balboa, the company focused on offshore clientele, and those residing in Panama City. With the expansion into the interior of the country, the law firm plans to hire additional staff to meet domestic market demand.

“As our team continues to expand and grow, it is vital we represent a larger portion of expats and Panamanians – this includes establishing locations where we feel people require representation. The Coronado office will serve this purpose admirably,” said Chatlani.

In July, the company was recognized for a decade of service to Panamanian-U.S trade relations with an award presented by the Panama-America Chamber of Commerce.

The post POLS Opens New Office In Coronado appeared first on POLS Attorneys.

POLS has been awarded an honour at the Panama American Chamber of Commerce Awards ceremony on July 11th, 2013 in recognition of 10 years of membership with the bi-lateral commerce advocacy organization. The Panama American Chamber of Commerce Awards are held to celebrate and recognize outstanding contributors based in Panama or the United States, who are furthering the cause of bringing business and economic relations between the two nations closer together.

POLS received an award for distinguishing themselves as a member of the commerce-supporting body over the last 10 years, alongside a number of other commercial, legal, financial and real estate partners of the Panama American Chamber of Commerce.

Held at the Waldorf Astoria in Panama City, Panama, the event was attended by members and award-winners in the name of commercial networking and honouring the achievements of the past year. A number of staff from POLS attended the ceremony and represented the company at the networking event which followed.

Panama American Chamber of Commerce is an organization helping promote American-Panamanian business interests and ventures, via networking events and helping businesses find each other easily. Advancing free trade and unrestrained communication between businesses, Panama American Chamber of Commerce provides a vital service to local and international businesses.

Speaking on his organisation’s successful membership of Panama American Chamber of Commerce over the last decade, Senior Partner of POLS Manoj Chatlani commented, “We’re proud to see our lengthy contribution to closer economic and financial relations between the U.S. and Panama recognized. At POLS we’re proud to have such a talented and solid team of lawyers and legal experts, helping us to maintain an innovative and relevant stance throughout the last decade. I’m proud of my partners and my team for all of their hard work.”

For more information visit the Panama-American Chamber of Commerce website: http://www.panamcham.com/

The post POLS Awarded Panama-American Chamber of Commerce Honour appeared first on POLS Attorneys.

POLS, a licensed Panama law firm specializing in offshore legal services, celebrated its 11th anniversary of operating in the Republic of Panama. Since their inception, POLS has provided legal advice, consultations, and services that range from the formation of Panama foundations and corporations to estate planning and asset protection through Panama offshore banking, as well as immigration / resident visas, real estate, and relocation services. With more than 5,000 clients and a staff of 30 professional attorneys, accountants and paralegals, POLS is one of the region’s largest offshore services providers.

“We are immensely proud to be celebrating our 11th anniversary of providing first-class offshore services in Panama,” said Manoj Chatlani, Partner of POLS. “Our dedicated and hardworking team deserve credit for their excellent knowledge of Panama and the Panamanian legal landscape they traverse every day. We believe our longevity is a reflection of the quality of service we provide and look forward to continuing our high standard of legal services in Panama and offshore.”

Panama Offshore Services, Inc. was founded in 2000, and was originally a provider of incorporation and account introduction services. As the company grew into a full-service law firm, legal services such as real estate transactions, immigration, and maritime law were added. Panama Offshore Services Inc. became POLS in 2002, and has since grown its customer base by 10% per year.

POLS has maintained its mission of providing clients with comprehensive legal solutions, focusing on customer service and support while maintaining integrity and adding value. Senior partner Manoj Chatlani realized that the market needed a more efficient, structured series of offshore packages, while customers wanted friendly, simple services. In turn, they create offshore legal packages that have a popular item of their worldwide clientele.

POLS offers clients worldwide a number of immigration and relocation services, legal and financial consultations related to Panama offshore banking, and the formation of Panama corporations and foundations. Additionally, POLS has created corporate relocation, foundation, and corporation packages that provide clients with a streamlined solution to asset protection in Panama. With a dedicated team of immigration attorneys, tax attorneys, accountants and former Panama bankers, POLS offers the most comprehensive solution to Panama offshore services.

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