Mossack Fonseca: Paraguay Removes Panama from Discriminatory Tax List
The Ministry of Foreign Affairs of Panama announced that the Republic of Paraguay has removed Panamá from its list of countries and regimes of low or no taxation.
The Panamanian Foreign Ministry commented "According to the decree issued by Paraguayan authorities, we are being recognized for our efforts and commitment with regard to the transparency of our financial, business and trade systems, and our removal from the FATF "Gray List".
The Vice President and Minister of Foreign Affairs, Isabel de Saint Malo de Alvarado, said that she is sure that this will promote an increase in the economic and commercial relations between the two countries.
The Minister of Foreign Affairs went on to say "Panama reiterates its commitment with the continuous modernization and updating of our financial services platform―this is done through the strengthening of legislation and collaboration with the international financial community to achieve the optimal economic development and maintain the defense of our international prestige".
Mossack Fonseca & Co
Head Office,
54th Street, Marbella
Panama, Rep. of Panama
Tel: (507) 205.5888
Mossack Fonseca Group: A large firm with a human touch
What is the ultimate goal of every company? Is it only about making money? The answer could be a “yes” or “no”. It actually depends on the company; and Mossack Fonseca Group’s answer to this is a big NO, because they’re also concerned about society’s welfare.
As a global company with a human touch, Mossack Fonseca & Co. established a Corporate Social Responsibility Program to provide necessary assistance to people in need every year.
Corporate social responsibility is a company’s concern for society’s welfare wherein marketing managers are interested in long-term corporate interest as well as society’s well-being. There are two main ideas included in social responsibility for most people; they are sustainability and stakeholder theory.
Sustainability includes a thought that if a company helps society through their business, then they will gain success. They could create products or services that can fulfill a need and help solve society’s problems; so people, in turn, can profit and provide help to the world.
Another approach in which companies can incorporate social responsibility is through stakeholder theory. Its central focus is that social responsibility is really giving attention to every stakeholder in the entire company, including the employees, customers, owners, suppliers, management or the community. It’s more about taking care of all different stakeholders and expecting that this will bring about social responsibility. The following is how each stakeholder would view social responsibility within their company:
- An employee wants to have a good and secure job as well as superb wages
- The management wants happy workers and good profits
- A customer wants excellent customer services and high-quality products
- The community wants a company to pay their taxes, offer their citizens good wages and help support the environment
- A supplier wants his/her business to remain profitable
- A business-owner wants to have a financial return with excellent profit
However, critics have a different view on social responsibility. They strongly believe that the sole purpose of a company behind social responsibility is just to make profit for their stakeholders. They state that taking care of the society and its concern is the job of nonprofit organizations, not for-profit organizations.
Any company can run out of business because of the additional expenses caused by social responsibility. It could also lessen a company’s competitiveness worldwide. Expansion would also be impossible if there are lesser profits, and this struggle could happen to a company which is giving money away. Losing to a company that does not donate profits is also a strong possibility.
There are also entities who support social responsibility. For them, companies should help the society improve for all their stakeholders. They believe that it is the companies’ responsibility to fix some of the society’s problems such as pollution, poor wages, and damaged cities since these issues were caused by them, in the first place. Furthermore, they add that companies have higher chances of success with social responsibility. There are a lot of companies that have proved this theory since they are able to provide quality products and services and make a good profit that helped better society.
Are you curious about the names of the companies who found success in social responsibility? They’re really huge companies and there’s a bigger chance that you’re familiar with them. Ice-cream maker? Probably the first thing in your mind is Ben & Jerry’s. Well, don’t be surprised as they are on top of the list. They pride themselves in supporting charities and have been donating a full 7.5% of pretax profits to various charitable institutions. The next company is The Body Shop which works with Greenpeace and has helped gather 4 million signatures against animal testing. Coffee? Starbucks is popular in this category, and it’s the last example. It supports Ethos Water, which provided clean water to more than 420,000 people that don’t normally have access to it.
Mossack Fonseca & Co. is highly motivated to contribute to the positive development of human beings. Since the firm is committed to helping communities, their legal experts are providing legal assistance to many organizations, including Rotary Club of Boquete (Panama), The British Aid Society, Aeroclub de Panama, Fundacion Del Club Canino, Fundacion Confederacion Canofila de Panama, and The World Bank. To remind themselves about their responsibility towards society, they’re giving their 100% in fostering change to where it is needed the most.
In particular, The Mossack Fonseca Group works with Piero Rafael Martínez De La Hoz Foundation, Tomatis Therapy and Stimulation Foundation, Art in the Park Foundation, Saint Joseph Parish Foundation of Valle De Antón, Fundacion Soy Capaz, and Panamanian Institute for Family Education – IPEF.
You don’t need to belong to a prestigious company to help society, as a concerned individual; you can actually do a lot of things. Being a volunteer to different community activities is one of your options. More damages to our environment could happen if we don’t work together to make the world a better place. There’s this belief that your success as an individual and the success of a company depends on Mother Nature, because without it, where can we find the basic ingredients to our products and services? Yes, money is a part of life; so is the natural world. The Mossack Fonseca Group is aware of their responsibility towards society, and they are continuing to do their best to improve the lives of numerous people in need. The health of society will reflect upon the health of a company’s future.
Mossack Fonseca & Co.: Connecting communities, clients, and people
In order to maintain its competitive advantage, Mossack Fonseca & Co. ensures that the quality of its client portal will meet the interests of their clients. The firm made the client portal to give utmost confidence to their clients in using their exclusive online services. Keeping their clients' information 100% safe all the time is of greatly importance to them. In particular, the Mossack Fonseca Group offers a secure online account that allows you to access your corporate information 24/7 anywhere and everywhere. It gives simple, secured, and organized access to clients' key information.
The Client Information Portal also offers real-time updates of your ongoing requests. Specifically, the firm's exclusive online portal offers amazing features to their clients, including finding updated information on your company formation requests through the case information service panel along with digital copies of corporate and legal paperwork; following up on your cases and receive notifications through email whenever one of your cases is updated; searching and reserving shelf companies online; viewing your price lists; paying your outstanding invoices; and requesting for certificates, reactivations and order forms.
Wherever you are in the world, you can access all of the mentioned features above with a safe environment in real-time. You could see amazing applications within the client portal of Mossack Fonseca & Co., such as the Case Information Service (CIS), Online Payment System (OPS), Electronic Delivery Service (EDS), and Online Work Request (OWR).
Case Information System (CIS) is a tool that monitors the progress of client requests and ongoing cases. It enables them to contact the firm's staff around the world, view digital copies of documents as soon as they are received in the firm's office, and receive automatic email notifications, which is optional, every time one of their cases is updated.
With Mossack Fonseca & Co.'s Online Payment System (OPS), the clients can monitor all of their outstanding or paid invoices with the portal's complete account management system. It allows their clients to generate account statement with real-time information, pay their outstanding invoices online or by credit card, take advantage of the firm's debit account application, and choose its batch payment option that facilitates bank transfers and cheques for settlement of invoices.
The Mossack Fonseca Group's Electronic Delivery System, or EDS, can eliminate delays due to the air-mail service. It ensures the most rapid and secures delivery system for clients' annual invoices and account statements. It also allows them to have more time to collect bills and send payments before deadlines.
The firm's Online Work Request (OWR) can access documents easily and quickly, and all in one place. These documents include incumbency certificates, good standing certificates, reactivation of one or more companies, and order form.
A client portal is no longer considered an accessory to a firm, it is now a necessity. Different firms worldwide, along with Mossack Fonseca Group, have seen its great benefit and efficiency, which results to a better and strong relationship with their clients.
Mossack Fonseca Group: Deeper understanding and better solutions
The Mossack Fonseca Group has been a client-focused and results-driven firm for 39 years. It is a leading global company that provides in-depth legal, trust and accounting services. The firm can be found in every continent with more than 500 staff members. Indeed, its international scope and depth are among its competitive advantage.
The Mossack Fonseca Group's extensive experience for almost four decades gives excellent services to its clients. In addition, it also offers world-class online experience with its virtual client portal that provides personal advice, and allow clients to:
- Reserve companies online
- Verify the status of companies
- Pay invoices along with other transactions
The Mossack Fonseca Group specializes in:
- Trust services
- Wealth management
- International business structures
- Commercial law
The firm can find the suitable solution for your business since their product and service portfolio is always updated and renewed. They offer research, advice and services for 15 jurisdictions. The firm also has expert attorneys that are knowledgeable in every area of law. If you're planning to move in Panama, the firm could give you a hand in your relocation and can support you in completing all the necessary steps.
Since 1993, the Mossfon Trust Corporation has been regulated by the Banking Superintendence of Panama. This particular trust company consist of professionals and specialists that have experience in corporate, trust, tax and accounting matters. They could assist you in developing opportune solutions.
The Mossack Fonseca Group is the first ISO 9001 certified law firm in the Republic of Panama since the month of May 2010. The ISO 9001:2008 quality system guarantee the clients that the firm is highly committed to continuous improvement and client satisfaction.
The firm received the global quality management system certification from SGS, the world’s leading inspection, verification, testing, and certification company that was accredited by UKAS (United Kingdom Accreditation Service) and ANAB (ANSI-ASQ National Accreditation Board).
UKAS and ANAB are two of the leading and most meticulous independent auditing and certification agencies around the globe.
The Mossack Fonseca Group’s lawyers and executives are dynamic members of various prestigious organizations. With this, you can be sure that you’re always in good hands.
Mossack Fonseca & Co.: Practical wisdom and trusted advice
Corporate Governance
The Mossack Fonseca Group applied corporate governance in their firm to provide confidence and security to their clients regarding protecting their assets through the years. The firms don’t stop in improving their processes and utilizing the best technological tools in the market to have a better service for their clients. It has adopted a Business Management System that assures that the firm will continue to follow all ethical standards and the best legal practices.
The firm is eager to ensure the long-term success of its clients as a global corporation with a well-organized corporate government. The corporate governance structure helps to reduce costs, avoid risks and identify problems and strategic opportunities.
Attorneys
The Mossack Fonseca Group is proud to have highly dedicated lawyers. Each of them graduated with honors from different universities in Panama and abroad and has a master's and doctoral degree as well as vast experience in various legal issues.
Exceptional Features
The top feature of Mossack Fonseca Group is its decades of experience in business. In particular, it has 39 years of extensive experience and will continue to deliver excellent service to their clients. The firm's Panama Head Office has 24-hour service; and you can find their office in every continent, which proves their powerful international network. Its staff a member is consists of more than 500 experts around the world and all of them were service and research-oriented professionals. It's also the first ISO 9001 certified law firm in Panama and continues to follow strict due diligence requirements. It acquires "VeriSign" encryption and Central Bank standards for a secure technology platform. They're also motivated specialists seeking solutions for changing business environments. Their client considers their exclusive client portal as a beneficial treat.
Data Security
You can have a peace of mind with the Mossack Fonseca & Co.'s client portal because it is 100% safe. They hold all their servers in-house to provide the most secure and latest protection available to their clients. The firm joined numerous companies and banks who depend on Verisign to keep their clients' information protected because it is considered the strongest encryption available with the most rigorous authentication standards in the world.
Along with those discussed above, the Mossack Fonseca Group will continue to provide top-notching services. You can visit their official website to have a better understanding of their firm.
Mossack Fonseca: Panama Named Best Place to Retire in 2016
Mossack Fonseca - International Living (IL) has named Panama the best place to retire in 2016. Their correspondents, editors, and contributors across the globe analysed, rated, and ranked the most popular retirement destinations.
Panama has long been a favourite of retirees. You’ll find them along both Caribbean and Pacific coasts, on white-sand islands, living contentedly nestled in mountain valleys, and along the glittering promenade of Panama City. Panama has hands down the best package of retirement benefits in the world. Pick your climate—tropical or temperate. On top of that, Panama is just a three-hour flight from Miami.
Both the cost of living and crime rate are low, the weather is warm and pleasant throughout the entire year, health care services are excellent highlighted by the Johns Hopkins affiliated hospital, the food is delicious, the airport offers worldwide flights, it’s only 2 ½ hours to Miami, the roads and highways are excellent, cell phone services are top notch, and high speed Internet service and cable TV are great. These are just some of the reasons that make Panama a great place to live and/or retire.
All that is required to qualify as a pensionado (pensioner) is that you must be in good health, AIDS-free, have an up-to-date passport from your country of citizenship, and you must draw a minimum pension of $750 and invest at least $100,000 in property in Panama or you must have a pension of at least $1,000 per month (no real estate requirement). However, there is a plus: you may now pool your pension with your spouse’s to meet the minimum pension requirement.
Foreigners who become pensionados can buy and own Panama property and enjoy exactly the same rights and protections as Panamanians, not always the case in many nations and an important point people often forget to consider. As for income taxes, you will be pleased to know that in Panama you pay no taxes on income earned outside of Panama.
Panama has created the most attractive special benefits programs for foreigners and retirees. As a pensionado [retiree] in Panama, you will receive:
- 50% discount at most recreational, movie, and sporting events
- 30% discount off public transportation (including buses and ships)
- 25% discount off Copa airline flights
- 50% discount off hotel stays on weekdays (30% on weekends)
- 25% discount at selected restaurants
- 15% discount at fast food restaurants
- 10% discount off prescription drugs
- 20% discount on doctor's visits
- 15% discount on dental work
- 25% discount on your electric bill (if less than $50)
- 25% discount on your telephone and water bills.
In addition, a pensionado is entitled to a one-time exemption of duties on the importation of household goods (up to $10,000) and an exemption every two years of duties for the importation or local purchase of a car.
Mossack Fonseca en el Blogger & Influencer Week
Algunas fo tos de lo que sucedió esta mañana en el Blogger & Influencer Week LATAM en el Hotel Radisson Decapolis, donde la prensa local e internacional se dió cita para dar cobertura al Foro de "Uso de Las Redes":
El evento dió inicio con las palabras del Alcalde de la Ciudad de Panamá, Lic. Jose I. Blandón, para luego dar paso al foro con los jovenes influenciadores, conducido por Johel Batista, talento panameño, creador del startup "AYUDINGA".
La presencia de los expertos de Mossack Fonseca y Mossfon MIPS se hizo presente como patrocinadores y compartiendo con los asistentes.
