Anna Cristina Valdes The concept of residency is defined by Panamanian law in Law 33 of June 30 2010, as amended by Law 52 of August 28 2012. The necessity for such a definition arises principally from the signing of conventions for the avoidance of double taxation (DTCs) by the Republic of Panama, and to assist its national strategy regarding the development of international services. In particular, Article 762-N of the Panamanian Tax Code establishes that tax residents are those individuals who remain on Panamanian territory for more than 183 days, or who have established their permanent homes in the country. Furthermore, legal entities constituted in accordance with Panamanian laws, or constituted as foreign entities registered with Panama's Public Registry, which have their place of effective management in the Republic of Panama, are also considered tax residents.
December 11, 2013