We offer professional services in the field of intangible property such as copyrights, trademarks, patents, trade secrets, licensing, plan varieties, industrial designs, and utility models.

LAU & LAU attorneys offer a professional service that combines the legal background of Intellectual Property in addition of the new trends of international commercial law.

Copyrights

LAU & LAU provides legal services in the process of the protection of all the expression of the ideas, including the registration process at the Ministry of Education, licensing, contracts and the advices in the business plan for the artistic expression.

Trademarks

We provide legal advices in the registration of any trademark. Panama’s law 35 establishes the process for trademark registration

LAU & LAU has a team specialized in the area of intellectual property that can help all our clients not only in the process for trademark registration, but also drafting all necessary agreements, licensing, and procurement of the good will.

Patents

LAU & LAU will provide professional service in patent, industrial designs and utility models, including but not limited to the registration process at the Ministry of Commerce and Industry, exploitation of the idea and licensing. We also get involved in the marketing and business plan of our clients in order to bring the idea into a profitable project.

Trade Secrets

We work with our clients in confidential and non disclosure agreements as well as black box agreements. Additionally we are involved in all steps needed to maintain a competitive secrecy while maintaining its commercial value.

Franchises

We offer to our clients professional advice in all the steps of the franchise process, including the permits and registrations, the intellectual property rights, including the trade dress, as well as all the process regarding the franchise.

LAU & LAU advices our clients in the licensing process, including all the necessary steps for the success of the franchise, combining intellectual property with business law.

Entertainment

LAU & LAU a service that is comprehensive and extends from contractual representation, Intellectual Property rights and negotiation of all kind of contracts.

We make it our priority to have the flexibility and adaptability to satisfy all our client’s requirements at all times.

Advertising & Marketing

LAU & LAU provides services in the area of advertising and marketing including but not limited to all areas of intellectual property protection, draft of contracts, non disclosure agreements etc.

Health Registration

LAU & LAU provides to our clients health registration for both pharmaceutical and cosmetic products, before the Pharmacy and Drugs Department of the Ministry of Health. We also provide health registration of food products before the Food Protection Department of the Ministry of Health.

E-Commerece

In the rapidly evolving area of law of electronic commerce and computer software, our attorneys work closely with the client to make sure that all legal aspects are attended.

LAU & LAU advice in e-commerce contracts, and also provide the service of domain name registration before the domain name registration offices, PANNET, and the registration and protection of the web page as copyright, plus all the legal and financial advice in order to get into e-business and e- commerce.

LAU & LAU Business and Corporate practice offers advice in a wide range of issues affecting corporate and industrial clients, many of which are foreign corporations and multinational corporations doing business in Panama.

Incorporating a business

The Republic of Panama decided since the enactment of the Corporation Law in 1927 to attract offshore financial business and to provide favorable tax treatment coupled with the adoption of investment incentives law and confidentiality, making a legitimate policy and business decision of becoming banking and a free trade zone sanctuary.

LAU & LAU team will provide all the necessary support needed to to incorporate any type of corporation for the protection or the creation of wealth.

Our program includes the possibility of incorporating corporations, offshore companies, private interest foundations, trust, and other legal entities that will support the company incorporation, including mergers and acquisitions.

Contracts

The firm's practice includes negotiation and drafting of contracts as well as commercial and financial documents of all kinds.

Export Processing Zones and Free Zones

Panama has the biggest free zone in the Americas and the second worldwide. There are several export processing zones across the nation.

Estate Planning

The team of LAU & LAU develops estate plans tailor to the specific needs of our clients. This plan includes strategies such as corporations, private interest foundations, holdings, bank accounts, wills and other legal structures that can help plan and protect for the future. This is done not only with a logistic support team but also with the help of economists and accountants.

Corporations

Benefits of an incorporation of a Panamanian company:

• There are not currency restrictions in Panama. The U.S. dollar is the circulating medium.
• It is not necessary to have a paid-in capital. This is mandatory in other countries.
• There are no requirements to file any reports with the Panamanian government regarding any off-shore activities, except the annual government franchise tax to remain in good standing.
• Taxation in the Republic of Panama is based to the territorial source principle. Therefore incomes is obtained from operations performed abroad are not taxable under our law
• It is not necessary for the interested parties to be present for the purpose of organizing a Corporation. In this case, corporations are formed through nominee incorporators in Panama, who execute the basic instrument for the incorporation called Articles of Incorporation (Pacto Social).
• The directors, shareholders and officers, may be of any nationality and resident of any country.
• Meetings of directors and shareholders may be held in the Republic of Panama, or in any country.
• Share certificates may be issued to the bearer or in the name of its owner and may be issued with or without par value. Neither the directors nor the officers need to be shareholders.
• The accounting books of the corporation may be kept within Panama or abroad.
• Corporations conducting business outside of Panama, do not require a commercial license for offshore activities.
• A corporation could own any kind of property or perform in any kind of legal activity.

Private Interest Foundations

A corporation allows you to open accounts, bargain any existing contract, purchase any real state, run a business, and involve your assets in any commercial transaction.

The Private Interest Foundation allows you to protect your assets and to work as a will.

Every individual who has sufficient wealth to consider establishing a foundation as part of a traditional estate plan must consider asset protection as one of the primary design objectives. Life is full of unintended, unexpected and unforeseen risks. Ignoring them doesn’t mean they go away. Planning for them is good risk management.

The private Interest foundation structure has traditionally been the most flexible and useful means of establishing an estate plan for Continental Europeans and Latin Americans. Private Interest Foundation enables the owner of assets to efficiently and effectively achieve personal objectives, as well as minimize the imposition of taxation. It enables the founder to establish management responsibility for assets and to secure their beneficiaries a wealth in the future.

Panama foundations shall not be profit oriented, because its objectives are the protection of the assets and the wealth security of the love ones.

The assets shall constitute an estate separate from the founder’s personal assets for all legal purposes, and may not be seized, or attached, or be subject to any precautionary action or measure.

Virtually, any kind of assets which are capable of being transferred free and clear can be settled into a foundation. Cash, securities, partnership interest, and real estate are typical of some of the types of property which can be suitable placed into foundation.

Under the Panama foundation, the founder can exercise different levels of powerful direct or indirect control over the foundation council, the protector, any committees, the beneficiaries or the assets.

The acts of constitution, amendment or extinction of the foundation as well as the acts of transfer, transmittal or encumbrance of assets of the foundation and the income arising there from, or any other act in connection therewith, are exempted from all taxes, contributions, duties, liens or assessments of any kind, provided they are related to:

• Assets located abroad.
• Money deposited by natural or juridical persons whose income is not obtained from a Panamanian source or is not taxable in Panama due to whichever reason.
• Shares or securities of any kind issued by corporations which income is not derived from a Panamanian source or which are not taxable for whatever reason, even when such shares or securities are deposited in the Republic of Panama.

Open a bank Account
Panama has over 90 international banks

Requirements: Each bank has its own requirements, but for most of them you should be prepared to provide the following information and documentation

• A personal interview
• A clear copy of passport as well as any other identification
• Bank references for each of the beneficial owner
• Two professional references
• Brief details of the applicants business (nature of the company, location)
• Origin or source of the funds to be deposit in the new account
• The approximate annual/ monthly volume of fund which will pass through the new account

Benefits:

• Panama confidentiality laws
• No tax on any bank account nor on the interest gain
• US dollar as the legal currency
• Possibility to open a bank account in yens, euros etc.
• Companies’ confidentiality
• Most of the banks offer internet banking

LAU & LAU is involved in all aspects of public procurement law and counsels clients at every stage of contract development, from proposal preparation through performance evaluation.

We assist our clients in the process of creating business proposals for obtaining government contracts.

Public Bids

LAU & LAU works hands-on with our clients in the process of a public bid, not only providing legal advice, but also technical.

We are involved in the process of creating proposals and offers, including negotiating with the government and the creation of a contract.

The Republic of Panama is known as one of the countries with the greatest growth in real estate, proof of this are the millions of dollars invested by nationals and foreigners, motivated by cutting edge projects and many financial and legal incentives.

LAU & LAU attorneys at law is committed in responding to the needs and requirements of investors and buyers. We keep a close relationship with national and international real estate companies, banks, insurance companies and other institutions that allow us to offer a broad range of alternative to our clients.

Our services include but not limited to:

Contract negotiation and draft

From reservation agreement up to purchase agreement, LAU & LAU attorneys at law offer support to the client, attends and establish all the necessary legal steps and due diligence in order to procure the best possible contract.

Public Deed

The Panamanian Legislation oversees the protection of the commercial activities of transaction of goods and services related to the scope of real estate. As a result the acquisition of properties in Panama is given by means of property titles which are then elevated by means of public deeds before a notary and formalized in the Panamanian Public Registry Office.

Property Title

We recommend for the purchase of real estate to use corporations or private interest foundations because of the many benefits that these legal entities provide, nevertheless a natural person can also be the owner of the property (foreigners or nationals alike)

Financing

Panama offers financing facilities, throughout more than 90 banking centers. LAU & LAU offer to their clients’ legal support in the whole process of obtaining a mortgage or a loan.

Renting

LAU & LAU provide the draft of contracts between the tenant and the landlord, with all the formal steps required by law.

LAU & LAU attorneys at law also manage the proceedings of horizontal property; contracts in general, license agreement for a hotel flag, legal structures of timesharing and condo hotel, legal managements to assure the investment of commercial, industrial or residential use

Permanent Residency Permit

Panama is an attractive country because its immigration system offers ample possibilities with regards to obtaining permanent residency.

Permanent Residency as a Pensioned

It gives the right to reside in Panama.

The applicants must receive a minimum monthly pension of US$1000.00. Married Couples can apply jointly if the sum of their pensions adds to US$1000.00.

Additionally if the applicants own in their own name a property with registered value over US$100,000.00 the required pension is only US$750.00 per month.

The pension must be of defined benefit and for life

It is required to provide a letter from the company or entity that certifies the pensioned retiree status of the applicant, a certificate of existence of this company in case it is from the private sector, two copies of the last two (2) cashed retirement checks and prove that the company paying the pension have sufficient funds to pay the pension for the duration of the life of the pensioned.

Benefits:

• Taxes are not paid in Panama from the Pensions received nor from interest obtained from Certificate of Deposit Accounts (CD’s)
• No taxation on importation of all household content up to the amount of US$10,000.00
• No taxation on the importation of a vehicle for personal or family use every two years
• All benefits given to national retirees and pensioners, according to Law No. 6 of 1987 are applicable to foreigners in equal conditions.

Residency Permit as a Retired Independent

Grants residency in Panama If the applicant can provide proof of a fixed term deposit in the “Banco Nacional de Panamá” or the “Caja de Ahorros” for a term of 5 years which generates an interest of US$2000.00 per month.

Benefit:

Special Panamanian travel passport

Residence Permit for Reasons of Personal Economic Solvency - Real Estate Investment

Requires the applicant to make a real estate investment of more than US$300,000.00 (must show proof of ownership and the amount that has been invested). The US$300,000.00 can be invested in one or more properties but all properties must be under the own name of the applicant or under the name of a private interest foundation where the applicant is the founder an a beneficiary and be free of any liens (properties cannot have a mortgage). Mortgage are allowed only in the case that a single property is worth over US$300,000.00 and US$300,000.00 are paid in cash then the balance can be financed through a mortgage.

Additional US$3000.00 must be added to the investment for each dependant.

This is required in order to prove that the person has the necessary financial solvency to live in this country.

Residence Permit for Reasons of Personal Economic Solvency - Time Deposit

Requires the applicant to establish in any bank with general license in the Republic of Panama a fixed time deposit of at least US$300,000.00 for a minimum term of 3 years. The Deposit must be free of any liens.

This is required in order to prove that the person has the necessary financial solvency to live in this country.

Additional US$2000.00 must be added to the investment for each dependant.

Residence Permit with base in the Panama-Italy Covenant

The Friendship and Cooperation Covenant between Panama and Italy grants the Italian nationals the right to obtain the Panamanian residency always that they fulfill the requirements established by the law, which include, prove of economic solvency (which is shown through bank reference letters proving that the applicant has sufficient funds to finance his/her stay in Panama) and justification for the residency in Panama (For example that the applicant would engage in business in Panama).

Permanent Residence Permit as an Investor

This permit is granted to the foreigners who prove to have realized an investment of at least $160,000.00 in a business in Panama which is not reserved for nationals (retail business are reserved for nationals while wholesale, service and industry business can be practiced by nationals or foreigners alike).

The investment can be proven with by example, property deed or rental contract over the local where the business would be performed, bank accounts in name of the company, invoices for the expended in furniture for the local, vehicles acquired for the business.

The investment must be done through a corporation; the applicant must own at least $160,000.00 and the proportional investment must be at least $160,000.00 as well.

Additionally it is required for the company to have 5 Panamanian workers under contract, earning at least the minimum wage and being registered with the Social Security.}

Permanent Residence Permit as a Reforestation Investor

This permit is granted to the foreigner who invests in Panama a minimum of $80,000.00 in activities of Reforestation or Forest Planting in a minimum surface of 5 ha.

There are companies in Panama that dedicate to the selling of land lots for reforestation. These companies would handle the reforestation business for the applicant.

This investment can be done personally or through a corporation. However we recommend it to be done through a corporation for reasons of asset protection.