Uglobal

Panama's new Law 526 taxes shell companies within multinational groups that cannot prove genuine local operations. Natalia Mulford says most individual investors and foreign residents are unaffected.

https://uglobal.com/blog/panamas-lawmakers-pass-15-tax-on-shell-companies-holding-foreign-income/

Panama Lawmakers Pass 15% Tax on Shell Companies Holding Foreign Passive Income - Residency & Citizenship by investment programs - Uglobal Panama's to tax multinational companies that cannot prove genuine local operations; might impact entrepreneurs with multi-jurisdictional businesses.