ARTICLE · 22 SEPTEMBER 2026
A holding company incorporated in Panama that never had an office or employees, and that only receives dividends from a subsidiary in another country, is exactly one of the types of structures targeted by Law 526, which amends the Central American country’s Fiscal Code. That model, used for years in hundreds of wealth and corporate structures registered in Panama, will no longer be sufficient on its own starting in fiscal year 2027, when the new economic substance regime takes effect.
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