Lombardi Aguilar Attorney To Speak at New York State Bar Association Panel Discussion

Lombardi Aguilar Attorney To Speak at New York State Bar Association Panel Discussion

Attorney Alvaro Aguilar will be a speaker at a panel discussion on trust & estate laws to be held before members of the New York State Bar Association (NYSBA) International Section

Lombardi Aguilar Group (http://www.laglex.com/) partner Alvaro Aguilar-Alfu will be a speaker at a panel discussion during the New York State Bar Association (NYSBA) International Section seasonal meeting. The theme of this seasonal meeting is "Latin America as an Engine for Economic Recovery and Growth." Mr. Aguilar is also Co-Chair of the meeting local steering committee comprised of lawyers from the Central and South American cities of Panama City, Bogota, Buenos Aires, Santiago, São Paolo, and San Jose. The meeting will be held from September 21-24, 2011, in Panama City, Panama, and a pre-meeting of the NYSBA Costa Rica Chapter will be held on on September 19.

Mr. Aguilar will be a panelist of the session on "Trusts and Estates – Regulation of Offshore Accounts and Trusts in the US and Latin America" on Thursday, September 23, from 2:40 p.m. to 3:55 p.m. Other experts in the panel will be Glenn G. Fox and Michael W. Galligan (both of New York City, U.S.), Mary Fernandez (Santo Domingo, Dominican Republic), Cristina Sánchez-Urtiz (Mexico City, México) and Diego Fissore (Buenos Aires, Argentina). Lombardi is a graduate of Universidad Santa Maria la Antigua (LLB) and Washington College of Law / The American University (LLM).

To register for the 2011 Seasonal Meeting of the International Section, visit the New York State Bar Association Website at: http://www.nysba.org/PanamaMeeting2011


About the New York State Bar Association (NYSBA) International Section

NYSBA http://www.nysba.org/ilp is the organisation of lawyers in the State of New York, and with more than 76,000 members, it is the largest voluntary bar organisation in the United States.
The NYSBA International Section is one of the most active sections of the Association, with over 2,000 members throughout the United States and in many foreign countries and with chapter chairs in numerous cities worldwide. Members are primarily professionals practising law at major international law firms or corporations with a global reach.
NYSBA International provides its members the opportunity to keep up to date and influence issues and events that affect their clients and their practice. Each year NYSBA International hosts its Seasonal Meeting in a different city outside of the United States to provide American and foreign colleagues the opportunity to meet, network and expand their international practices.

About Lombardi Aguilar Group
Lombardi Aguilar Group is a partnership of consultants created as an alternative for clients worldwide who seek fast, innovative and effective solutions to their legal problems. The firm currently provides services to individual and corporate clients in Panama as well in the Americas, Europe and Asia. Its partners maintain a commitment with professional ethics and social responsibility by participating in the board of directors of groups such as the Panama Bar Association, the Alliance Francaise, the German and the American Chambers of Commerce (AMCHAM) of Panama, and the Association of Chinese-Panamanian Professionals (APROCHIPA).

The firm centers its law practice in private client services and asset protection (Private Interest Foundations, Trusts), business structures (Offshore Corporations), tax planning, real estate and e-commerce. It also advices in areas of Law such as Corporate, Commercial, Intellectual Property, Maritime, Tax, Environmental and Immigration Law as well as related litigation.

For more information, contact +507 340-6447, e-mail info (at) laglex.com, or see: Lombardi Aguilar Group http://www.laglawyers.com/

Keywords: panama, latin america, new york, tax, offshore, Trust, trustee, estate, Real Estate, Property, corporation, foundation

http://prlog.org/11646540

# # #

---

Subscribe to press releases from Lombardi Aguilar Group:
RSS Feeds:

---

See also the updates in Linkedin , Facebook and Twitter

US ExIm Bank Chaiman visits Panama

Ex-Im Bank Chairman Fred P. Hochberg Conducts Business Development Mission in Panama, August 7 - 8

PANAMA CITY, Aug. 8, 2011 /PRNewswire-USNewswire/ -- Fred P. Hochberg, chairman and president of the Export-Import Bank of the United States (Ex-Im Bank), conducted a business-development mission in Panama on August 7 – 8, 2011, to promote Ex-Im Bank financing available to support sales of U.S. goods and services to private and public-sector buyers.

(Logo: http://photos.prnewswire.com/prnh/20110414/MM83673LOGO)

Panama is the fastest-growing country in Central America, with a GDP growth rate of 7.5 percent in 2010 and strong growth anticipated through 2015. The government of Panama has set ambitious goals for the country's infrastructure investment that could total more than $10 billion in the next five years, including a $1.5 billion metro line.

As of June 30, 2011, Ex-Im Bank has over $1 billion in exposure in Panama. Ex-Im's support for Boeing aircraft sales to Copa Airlines, Panama's flag carrier, constitutes the majority of its financings in the country in recent years, and the Bank is seeking to expand its support beyond the aviation sector.

Hochberg met with Panamanian business leaders to discuss Ex-Im Bank financing available to encourage more companies in Panama to purchase U.S. goods and services. He is focused on expanding use of the Bank's products for infrastructure development, renewable-energy production, medical and transportation equipment, construction and other sectors.

"From financing U.S. construction equipment for the Pan-American Highway in the 1940s to supporting U.S. aircraft sales to Copa Airlines today, Ex-Im Bank has helped to expand business and tourism in Panama," said Chairman Hochberg. "The Bank is open for business in all of our programs in Panama. We provide an array of innovative financing tools and resources for Panamanian buyers to purchase U.S. goods and services."

Commenting on the pending U.S.-Panama Free Trade Agreement, Hochberg noted, "Ex-Im Bank supports Panamanian companies as productive partners with U.S. exporters for the mutual benefit of our countries. The free trade agreement with Panama will allow the Bank to harness additional opportunities in infrastructure and other key sectors and improve U.S. access to Panama's $20 billion services market."

Hochberg's schedule included meetings with Copa Airlines officials, breakfast at the American Chamber of Commerce of Panama on Monday, August 8, followed by a meeting with U.S. Ambassador to Panama Phyllis M. Powers and a visit to the Panama Canal.

Panamanian buyers interested in learning more about Ex-Im Bank's financing may contact Senior Commercial Officer Daniel Crocker at the U.S. Embassy in Panama City through email at Daniel.Crocker@trade.gov or by calling (507) 207-7388.

About Ex-Im Bank:

Ex-Im Bank is an independent federal agency that helps create and maintain U.S. jobs by filling gaps in private export financing at no cost to American taxpayers. The Bank provides a variety of financing mechanisms, including working capital guarantees, export-credit insurance and financing to help foreign buyers purchase U.S. goods and services.

In FY 2011 through August 4, 2011, Ex-Im Bank has approved more than $24.5 billion in total authorizations – an all-time Ex-Im record. This total included 2,548 U.S. small-business transactions. The Bank's FY 2011 authorizations to date represent a 70 percent increase over its FY 2008 total of $14.4 billion.

Ex-Im Bank's authorizations through August 4 will support $31.5 billion in U.S. export sales and approximately 213,000 American jobs in communities across the country. For more information, visit the Bank's Web site at www.exim.gov.

SOURCE Export-Import Bank of the United States

Disney makes it to Panama! - sort of...

Panama has become a regular port of call of the Disney cruise ships. Disney Magic holds the record for the highest regular toll paid for passage through the Panama Canal, at $331200
http://en.wikipedia.org/wiki/Disney_Magic

This is the closest we have yet to see a Disney operation being set up in Panama, despite the recurrent story that keeps coming up on the Internet about a Disney resort.

The story first came up in 2006 during the real estate boom. http://primapanama.blogs.com/_panama_residential_devel/2006/01/is_disney_comin.html The then Minister of Commerce Jose Paredes theorized it could be related to the purchase of Hacienda Santa Monica by a group of foreign investors. The Minister mistakenly said that the investors had made a deposit and no further payments, when in fact the investors have been precluded from paying the rest of the price when the seller Wilson Lucom died and the relatives stalled the probate case. And the buyers were not related to the Disney companies.

In 2009 an April 1 "news item" supposedly issued by a non-existent reporter AP called Rodrigo Campos mentioned a Disney park to be located on the Pan-American Highway near the entrance to the resort town of Coronado, the 350 acre park. http://www.panama-guide.com/article.php/20090401154924637

Even a BusinessWeek website http://bx.businessweek.com/foreign-direct-investment/walt-disney-coming-to-panama/6467937499164575937-2516e83dc8dc74e509c929cbbd984b74/ and the El Siglo newspaper were suckered into what was an April Fools joke http://www.panama-guide.com/article.php/20090401154924637

What has become an urban legend or a way of raising depressed real estate prices occasionally makes it back, as the original item remains stored in website cache memories, with some Internet users still believing it...

http://answers.yahoo.com/question/index?qid=20090422161316AASM8lD
http://www.mouseinfo.com/forums/mousellaneous/89052-new-disney-park-according-papers.html
http://www.panama1.com/foros/showthread.php/725-Walt-Disney-Coming-to-Panama-NOT!
http://forums.wdwmagic.com/showthread.php?t=616557

Disney resorts - unrelated to theme parks - do exist in the Caribbean and throughout the U.S.
http://www.kingdom-travel.com/Walt_Disney_World_Resorts/Disney_Caribbean_Beach_Resort.shtml
http://www.kingdom-travel.com/Walt_Disney_World_Resorts/Disney_Saratoga_Springs_Resort_Spa.shtml

This means that those wanting to visit Mickey will need a U.S. visa or travel to theme parks in Europe or Asia.

Panama exits the OECD Grey List

OECD Promotes Panama to List of Financially Transparent Countries

Leading Latin American Economy Reaches Major Transparency Standards Milestone

WASHINGTON, July 22, 2011 /PRNewswire-USNewswire/ -- Following the signing of a double taxation agreement with France on July 6, the Republic of Panama was placed by the Organization for Economic Cooperation and Development (OECD) on its list of countries who have substantially implemented international standards for exchange of information, commonly known as the "White List."

"Panama has moved aggressively to align its tax systems with international standards established by the OECD," said Alberto Vallarino, Minister of Economy and Finance for the Republic of Panama. "We are pleased to have reached this historic milestone, which further assures international investors of the stability of the Panamanian economy."

Panama has signed DTAs with France and 10 other countries, including Italy, the Netherlands, Spain, Qatar, Luxembourg, Korea, Singapore, Mexico, Barbados, and Portugal. Panama signed a Tax Information Exchange Agreement with the United States in November of last year. These agreements enable the transparent exchange of tax information and prevent the facilitation of tax evasion. A country must sign at least 12 of these agreements in order to be included on the OECD's list, which is a compilation of countries willing to cooperate against tax fraud.

Panama leads Latin America economically. In 2010, the country led the region in foreign direct investment, as a percent of GDP, with investments exceeding $2.3 billion. In the first quarter of 2011 alone, Panama's economy grew 9.7 percent from the previous year. It was ranked the 2nd most competitive economy in Latin America by the World Economic Forum's Global Competitiveness Report 2010-2011, and the International Monetary Fund projects that Panama will become the fastest-growing economy in Latin America and the Caribbean by 2015.

Panama has requested that the OECD's Global Forum further review its laws and domestic policies to ensure the tax treaties it has signed remain operational.

"The Martinelli Administration's pro-growth economic policies and alignment with international standards continue to create prosperity for our country and opportunities for our citizens," Vallarino said.

Distributed by HDMK, LLC on behalf of the Republic of Panama. Additional information is on file at the Department of Justice, Washington DC.

www.meetpanama.com.pa

SOURCE Republic of Panama

---

Tax: Panama meets target for international exchange of tax information

06/07/2011 - Panama today moved to the OECD’s list of jurisdictions considered to have substantially implemented the standard for exchange of information when it signed a tax information exchange agreement with France. This brings Panama’s total agreements to the critical 12 that meet the international standard.

Accordingly, Panama now moves into the substantially implemented category, becoming the 39th jurisdiction to do so since the progress report was first issued in April 2009.

Secretary General Angel Gurria said, “Panama has worked hard to achieve this milestone and has made remarkable strides toward complying with the international standards in a very short time. This is very welcome and shows the Global Forum is achieving its aims.” However, he cautioned that the Global Forum must still evaluate whether Panama’s domestic laws will allow for effective availability, access to and exchange of information. He said, “The government has introduced domestic changes so that the agreements can be effective. The Global Forum will follow up to make sure they work as intended. It is important that Panama continues to work to fully implement the standards.”

Following the Global Forum Phase 1 Peer Review of Panama (assessing the legal and regulatory framework), Panama has significantly amended its legislation to address some of the deficiencies identified by the Global Forum which resulted in Panama not moving forward to a Phase 2 review (assessment of the information exchange in practice). At the request of Panama, the Global Forum will soon undertake a further review of whether Panama’s domestic laws, including recent changes, will allow for effective exchange of information in practice.

More information about the Global Forum:

• Background briefing on the Global Forum
• Website of the Global Forum: www.oecd.org/tax/transparency
• Exchange of Information Portal: www.eoi-tax.org – Follow the latest news on exchange of information networks and peer reviews for all jurisdictions.

For further information, journalists should contact Jeffrey Owens, Director of the OECD’s Centre for Tax Policy and Administration, (tel. +33 1 45 24 91 08, e-mail: jeffrey.owens@oecd.org).

• Watch videos available on tax "evasion"

---

A progress report on the jurisdictions surveyed by the OECD Global Forum in implementing the internationally agreed tax standard (PDF regularly updated)

A progress report on the jurisdictions surveyed by the OECD Global Forum in implementing the internationally agreed tax standard on exchange of information for tax purposes.

The internationally agreed standard, developed by OECD and non-OECD countries in the context of the OECD’s Global Forum on Taxation and endorsed by G20 Finance Ministers in 2004 and by the UN Committee of Experts on International Co-operation in Tax Matters in October 2008, requires exchange of information on request in all tax matters for the administration and enforcement of domestic tax law without regard to a domestic tax interest requirement or bank secrecy for tax purposes. It also provides for extensive safeguards to protect the confidentiality of the information exchanged.

Panama Peer Review Report

A succesful day at Immigration...

Applicants at Panama Immigration may spend up to 25 hours standing in line for pictures or submissions by the time certain types of residence visas are granted. Somehow there is always a new unwritten regulation used to justify ordering a application papers to be amended. Using an attorney or a legal assistant may cut down the number of hours spent. Having a clever assistant like this one is ... just priceless!

Panama Attorneys advise investors forming joint venture for energy projects in West Africa

Panama Attorneys advise investors forming joint venture for energy projects in West Africa
Attorneys Lombardi Aguilar Group advised a group of West African investors entering a joint venture to develop hydrokinetic water projects

Panama City, Panama – Attorneys Lombardi Aguilar Group (www.laglex.com) served as Panama counsel for MRS Holdings Ltd. (www.mrsgroupng.com) in their joint venture to develop hydrokinetic water projects.

Nigeria-based MRS Holdings Ltd., entered through their Panamanian subsidiary into a joint venture with renewable energy company Hydro Alternative Energy, Inc. (HAE) to develop hydrokinetic energy projects in West Africa. The arrangement follows the previously announced binding letter of intent between HAE and MRS to secure and develop such hydrokinetic water power projects in the West Africa region.

HAE and MRS formed Natural Energy Solutions (NES), a Panamanian corporation, which plans to enter into power purchase agreements for developing hydrokinetic water power projects in West Africa. NES will be headed by select senior management from both the HAE and MRS organizations.

NES plans to advance the terms and conditions of a MoU from mid-October between a prior MRS subsidiary, since assigned to NES, and the Cameroon’s Ministry of Energy and Water Resources. The MoU entails feasibility studies to be undertaken for the development and operation of facilities for the production of tidal electric power, and for the Cameroon government to facilitate access to and grant certain exclusivity rights with respect to the project sites that will be selected as part of the feasibility studies and construction of electricity generation facilities to be undertaken.

MRS is headed by its President and major stockholder, Sayyu Dantata, an established businessman and entrepreneur who, in 2008, steered MRS' acquisition of the Chevron operation in West Africa. Mr. Dantata stated, "We are likewise very pleased to formalize our partnership with HAE, and are fully committed to making our relationship a success and providing West African countries with low cost, clean, renewable hydrokinetic energy for their electricity needs."

Lead attorney for MRS' Panama counsel was partner Dr. Jorge Lombardi, a graduate of Universidad Santa Maria la Antigua (LLB) and University of Paris (3eme cycle, DED). The team included associate Carlos Abrego and counsel Rodolfo Espino. Abrego and Espino are graduates of University of Panama (LLB) and have taken courses at National University of Singapore (LL.M.) and Tamkang University, Taiwan (Political Systems), respectively.


About Lombardi Aguilar Group
Lombardi Aguilar Group is a partnership of consultants created as an alternative for clients worldwide who seek fast, innovative and effective solutions to their legal problems. The firm currently provides services to individual and corporate clients in Panama as well in the Americas, Europe and Asia. Its partners maintain a commitment with professional ethics and social responsibility by participating in the board of directors of groups such as the Panama Bar Association, the Alliance Francaise, the German and the American Chambers of Commerce (AMCHAM) of Panama, and the Association of Chinese-Panamanian Professionals (APROCHIPA).

The firm centers its law practice in private client services and asset protection (Private Interest Foundations, Trusts), business structures (Offshore Corporations), tax planning, real estate and e-commerce. It also advices in areas of Law such as Corporate, Commercial, Intellectual Property, Maritime, Tax, Environmental and Immigration Law as well as related litigation.

For more information, contact +507 340-6444, e-mail info (at) laglex.com, or see: Lombardi Aguilar Group http://www.laglawyers.com/

Keywords: Panama, West Africa, Energy, Hydrokinetic http://prlog.org/11541669
# # #

--- end --- Visit Press Room

---

Subscribe to press releases from Lombardi Aguilar Group:
RSS Feeds:

---

Ras al Khaimah opens its RAK Offshore center

Located in the United Arab Emirates, one of the fastest growing economies of the world, the emirate of Ras Al Khaimah (RAK) has quickly developed into a booming international center. Renowned for its lack of taxes and its minimal bureaucratic red tape, Ras Al Khaimah has attracted thousands of businesses, large and small, to relocate and take advantage of its economic opportunities. Now, RAK Offshore has made it possible for nonresident corporations, entrepreneurs and individuals worldwide to enjoy all the incentives that were previously available only to resident entities.

Headquartered in the up-and-coming Ras Al Khaimah City, the RAK Investment Authority, a government entity, allows a wide variety of financial activity and provides the perfect conditions to consider an offshore corporation through its regularity body, RAK Offshore.
At RAK Offshore, our raison d’être is to help your business succeed. From the very outset, RAK Offshore was conceived to allow its clients an easy, cost-effective means to unleash their entrepreneurial spirit, by starting and operating an offshore business.
RAK Offshore offers businesses and individuals alike an expansive range of services, structures and investment policies that are dedicated to nonresidents. RAK Offshore also benefits from one of the most comprehensive lists of non-double taxation treaties in the world, including treaties with China, India, Italy, France and Germany.

Nonresident Business and Individuals
International Business Companies RAK Offshore presents an ideal location for international business operations and asset protection schemes. If you are looking for an free zone in the Middle East where you can register your LLC or GmBH with little cost or hassle, RAK Offshore is your answer.
Maritime Activities RAK Offshore offers open registry of yachts, private boats, and, in the near future, vessels.

OutsourcingWith its proximity to the major economies of the Middle East and its strategic location between the economic hemispheres of the East and the West, RAK lies in the perfect geographic location for a new business. In addition to its ready access to a flexible, multicultural, multilingual and highly skilled workforce, RAK Offshore becomes the ideal choice for outsourcing businesses looking for accounting, auditing and other back-office operations.
Offshore Non-Financial Businesses You can register International Business Companies bearing the status of Ltd., GmBH, Ltda or SA at RAK Offshore.
Trusts There are a variety of trusts you may consider, including the following: General Trusts, Discretionary Trusts, Vesting Trusts, Educational Trusts, Employee Trusts, Spendthrift Trusts, Asset Protection Trusts & Grantor Trusts.
Charitable Trusts & Foundation As the owner of an operating business, you can continue to maintain control over your company by setting up a Corporate Special Trust.


Offshore BankingRAK Offshore takes special care to give small and medium enterprises the ability to move their business offshore through the creation and application of dedicated instruments. A few resulting benefits realized for your business are the following:
Asset Protection & Planning
Confidentiality of execution
Tax planning
International Visibility
No Exchange Control
Access to a Superb Communication and Banking Infrastructure
Choice of outsourcing
Creative and genuine portfolio of dedicated services
Property ownership of nonresidents in UAE free zones
Compliant with the best international standards for anti-money laundering.

---

If you need to form your RAK company or trust, contact us through our website, by email, Bitwine or Skype

.

Using your RAK company

Registrar of Companies
The Registrar of Companies functions as the production unit of RAK offshore and is responsible for establishing business relationships, incorporating offshore companies through licensed registered agents, and ensuring all rules and regulations are strictly adhered to. The Registrar of Companies will handle all matters related to the aforementioned, including:

• Process applications for incorporation of new companies and deliver certificate of incorporation with registration number
• Perform due diligence on the individuals (directors, members, etc.) who are part of the incorporated company.
• Verify the names of companies at incorporation
• Collect various fees and fines
• Deliver certificates, duplicates, or other documents as per the law
• Maintain the physical registry
• Update the Register of Companies as needed

Information AT-A-GLANCE

International  Business Companies
Shareholders Minimum Residency requirements	1 shareholder No requirements
Share Capital Minimum authorized Minimum issued Bearer shares Redeemable shares	Nomínimum requirement 1 share No Yes
Beneficial ownership disclosure	Not required to disclose to the UAE government, but must be disclosed to a registered agent
Directors MinimumNumber Residency requirements Corporate Directors	1 director No requirements Yes
Local presence requirements Directors Company officers Meetings Annual general meeting Audit requirements	Not required Not required Not required Not required Not required (unless requested by the RAK Financial Services Authority for suspicion of criminal activity)
Annual accounts Possibility of migration	Yes, but not public accounts Yes
Share transfer duty/tax	None
Special mention on the name	Ltd., Sociéte Anonyme, GmbH, Ltda…

---

If you need to start your RAK company contact us through our website, by  email, Bitwine or Skype

Panama hires new K Street lobbyists

Panama Nabs Additional K Street Help
By Kate Ackley
Roll Call Staff
May 24, 2011, 3:09 p.m

The government of Panama, hoping to win Congressional approval for a free-trade agreement with the United States, has hired a new team of lobbyists from Mehlman Vogel Castagnetti to press its case on Capitol Hill.

Full text in http://www.rollcall.com/news/-205910-1.html
See also http://www.prensa.com/hoy/panorama/2616840.asp
http://www.mvc-dc.com

Efforts continue to ensure ratification of US-Panama FTA

The Panamanian Vice-President Varela met Feb. 11, 2011, USTR Ron Kirk trying to advance ratification of the Panama Free Trade Agreement.

Devon

http://mensual.prensa.com/mensual/contenido/2011/02/10/hoy/negocios/2497906.asp
http://mensual.prensa.com/mensual/contenido/2011/02/10/hoy/negocios/2497737.asp

Economía y Negocios

2011 será decisivo en las relaciones comerciales de Panamá

EU promete intensificar ratificación del TPC

Quedan temas por resolver para Estados Unidos, como la protección de derechos laborales.

VISIÓN. Kevin Brady, republicano de Texas, dijo que Panamá ha hecho más de lo que le ha pedido EU para lograr la ratificación del acuerdo comercial. BLOOMBERG/Joe Marquette1508875

Betty Brannan Jaén
Corresponsal
WASHINGTON, D.C.

El presidente Barack Obama ha dado instrucciones de que se "intensifique" el esfuerzo por resolver temas pendientes con Panamá en torno al tratado de promoción comercial (TPC), con miras a proceder este año con la ratificación del acuerdo, afirmó ayer Ron Kirk, representante comercial del Gobierno estadounidense.

"Les puedo decir hoy que el Presidente me ha dirigido a que inmediatamente intensifique el diálogo con Colombia y Panamá, con el objetivo de resolver los temas pendientes tan pronto como sea posible este año, e inmediatamente después llevar esos acuerdos al Congreso para su consideración", declaró Kirk durante una audiencia ante el Comité de Medios y Árbitros de la Cámara de Representantes.

Sin embargo, Kirk precisó que "quedan temas serios" por resolver con ambos países. "Algunos de esos temas se dirigen a valores e intereses básicos para Estados Unidos, como la protección de derechos laborales. Cualquier horario [para ratificar los acuerdos] dependerá de la resolución exitosa de estos temas".

Kirk dejó claro que se espera más de Panamá, pero no precisó detalles. Dijo: "Colombia y Panamá han comenzado a tomar algunos pasos importantes, pero queda más por hacer... Es crítico que ellos vengan a la mesa preparados a tomar acciones significativas".

El presidente del comité, Dave Camp (republicano de Michigan), criticó que no se han definido exactamente cuáles son los temas pendientes con Panamá y Colombia. En la misma línea, Kevin Brady (republicano de Texas) sostuvo que Colombia y Panamá "no solamente han hecho todo lo que hemos pedido, sino que se han ido mucho más lejos". Él y otros republicanos en el comité presionaron a Kirk sobre la demora en proceder con la ratificación de estos dos acuerdos.

Del lado demócrata, el congresista Sander Levin (de Michigan) señaló que los aspectos sin resolverse con Panamá incluyen temas laborales y fiscales. Sobre ambos aspectos, dijo, Panamá tiene medidas ante la Asamblea que no se han aprobado todavía. Otro congresista demócrata, Jim McDermott (de Washington), mencionó su preocupación sobre "el estatus de Panamá como paraíso fiscal".

Mientras tanto, Adam Isaacson, analista con el Washington Office on Latin America, opinó el martes en una entrevista con CNN que lo que tiene estancado al TPC en Washington es una preocupación por temas laborales y corrupción en Panamá.

Ayer, en declaraciones a este diario, Isaacson aclaró que su referencia a "corrupción" tuvo que ver más bien con el secreto bancario en Panamá. Sobre ambos temas –derechos laborales y secreto bancario—Isaacson observó que hay medidas pendientes ante la Asamblea Nacional.

Kirk genera optimismo

Las declaraciones del representante comercial Ron Kirk generaron un ambiente de optimismo en Panamá.

"Es positivo, un indicio muy favorable de parte de la administración Obama, por primera vez se señala de manera pública presentar el TPC con Panamá", dijo Antonio Fletcher, presidente del Consejo Nacional de la Empresa Privada.

Estif Aparicio, ex jefe negociador comercial, también calificó de positivo que se haya dado fecha o rango temporal para la ratificación del acuerdo. "En un país como EU no se dan declaraciones de este tipo sin que se tenga la certeza de que se van a hacer las gestiones", agregó. El ministro de Comercio Roberto Henríquez reiteró que se ha cumplido con los cambios laborales y fiscales solicitados por EU.

MARY TRINY ZEA

Ordenan que se ratifique el TPC

Kirk se reunirá mañana con el canciller panameño Juan Carlos Varela, quien ha expresado su expectativa de que el tratado avance en el primer trimestre de 2011.

MANCUERNA. Ron Kirk ha acompañado al presidente Obama en varias decisiones importantes de carácter comercial. AFP/Jewel Samad1508647

AP. WASHINGTON, EU

El presidente Barack Obama ordenó resolver este año los temas pendientes para ratificar los tratados de libre comercio con Colombia y Panamá, dijo ayer el representante comercial del Gobierno estadounidense.

Al comparecer ante la comisión de medios y arbitrios de la cámara baja, Ron Kirk afirmó que Estados Unidos gestionará la ratificación de los tratados de libre comercio con Colombia y Panamá solamente tras aclarar objeciones relacionadas con "principios e intereses estadounidenses fundamentales".

Es la primera vez que el Gobierno estadounidense menciona una fecha tentativa para ratificar los tratados de libre comercio con Colombia y Panamá, pendientes desde hace un lustro.

La fecha coincide con la solicitud planteada el mes pasado por el vicepresidente colombiano Angelino Garzón a su colega estadounidense Joe Biden de buscar una aprobación del tratado de libre comercio en 2011.

La mayoría republicana en el Congreso y la Cámara de Comercio estadounidense ha ejercido una intensa presión para que ambos tratados sean considerados junto con el de Corea del Sur, que Washington espera enviar al congreso en las próximas semanas para sancionarlo antes de mediados de año.

El presidente del comité de Medios y Arbitrios, el republicano Dave Camp, dijo a Kirk que "esperábamos declaraciones como estas hace dos años, estamos perdiendo participación de mercado en esos países. Necesitamos medidas concretas" para aprobar estos tratados.

Kirk respondió que su despacho enviará la semana próxima a Colombia una misión para evaluar la situación de derechos laborales, y ante una pregunta dijo no saber si él integrará la misión.

Las preocupaciones sobre la tasa anual de sindicalistas colombianos asesinados ha sido uno de los principales obstáculos al tratado en el Congreso.

En cuanto a Panamá, Kirk dijo que quedan por resolver dos objeciones a sus leyes laborales, pero no especificó.

El Gobierno panameño espera la aprobación legislativa este mes de proyectos de ley para garantizar el derecho a sindicalizarse en empresas que no tengan dos años de existencia y en empresas activas en zonas económicas especiales.

No quedó claro tras la intervención de Kirk si Washington ha desistido de una tercera observación laboral a Panamá: reducir de 40 a 20 la cantidad requerida de trabajadores para fundar un sindicato.

Kirk se reunirá hoy con el vicepresidente panameño Juan Carlos Varela, quien ha expresado su expectativa de que el tratado avance en el primer trimestre de 2011 porque asegura haber cumplido todas las condiciones planteadas por la Casa Blanca en junio de 2009, incluyendo un tratado de intercambio de información fiscal suscrito en noviembre.

"Cualquier avance dependerá de la aclaración exitosa de estos temas. Colombia y Panamá han comenzado a adoptar medidas importantes, pero necesitan hacer más. Para lograr avances, es vital que (Colombia y Panamá) vengan a la mesa de negociaciones preparados para adoptar medidas significativas adicionales", dijo Kirk sobre ambos tratados.

IRS announces August 31, 2011 Offshore Voluntary Disclosure Initiative (OVDI) deadline

U.S. citizens or foreigners who are green-card holders and have never reported that offshore account, corporation or private foundation they control or never bothered to dissolve, now have a second chance to come into the system.

Depending on each individual case, forms which should been filed are :
- Form 1040, Schedule B, Part III – Foreign Accounts and Trusts
- TD F 90-22.1 (Report of Foreign Bank and Financial Account Information)
- Form 5471 (Information Return of U.S. Person with Respect to Certain Foreign Corporations)
- Form 5472 (Information Return of a 25% Foreign-Owned U.S. Corporation or a Foreign Corporation Engaged in a U.S. Trade or Business).

---

On February 8, 2011, the Internal Revenue Service announced a special voluntary disclosure initiative designed to bring offshore money back into the U.S. tax system and help people with undisclosed income from hidden offshore accounts get current with their taxes. The new voluntary disclosure initiative will be available through Aug. 31, 2011.
The 2011 initiative has a higher penalty rate than the IRS's previous voluntary disclosure program, which ended on Oct. 15, 2009, but offers clear benefits to encourage taxpayers to disclose foreign accounts now rather than risk IRS detec-tion and possible criminal prosecution. In addition, the 2011 initiative includes new guidelines to provide fairness to people with smaller amounts of undisclosed assets or unusual situations.
A full news release about the 2011 OVDI may be found here: http://www.irs.gov/newsroom/article/0,,id=235695,00.html?portlet=7. More information, including how to participate, may be found here: http://www.irs.gov/newsroom/article/0,,id=234900,00.html.

---

How to Make a Voluntary Disclosure Under the 2011 OVDI

The 2011 Offshore Voluntary Disclosure Initiative (OVDI) is offered to those taxpayers with offshore accounts or assets. Please follow the new process outlined below.

Pre-Clearance:

Taxpayers or representatives may fax to the IRS Criminal Investigation Lead Development Center at (215) 861-3050 the taxpayers' name, date of birth, social security number and address (if the taxpayer is represented by a tax professional, an executed power of attorney must be included).

IRS Criminal Investigation will then notify taxpayers or their representatives via fax whether or not they have been cleared to make a voluntary disclosure using the Offshore Voluntary Disclosures Letter. Taxpayers or representatives with questions regarding the pre-clearance can call (215) 861-3759 or contact their nearest Criminal Investigation Office.

Note: Pre-clearance does not guarantee a taxpayer acceptance into the 2011 OVDI. Taxpayers must truthfully, timely, and completely comply with all provisions of the 2011 Offshore Voluntary Disclosures Initiative.

Offshore Voluntary Disclosure Letter

If the taxpayer chooses to submit a pre-clearance request, after the taxpayer receives a pre-clearance notification, the taxpayer will have 30 days from receipt of the fax notification to complete the Offshore Voluntary Disclosures Letter. If the taxpayer chooses to bypass the pre-clearance process, the taxpayer must mail the Offshore Voluntary Disclosures Letter to the following address:

Internal Revenue Service

Criminal Investigation

ATTN: Offshore Voluntary Disclosure Coordinator

Philadelphia Lead Development Center

600 Arch Street, Room 6406

Philadelphia, PA 19106

The IRS will review the offshore Voluntary Disclosures Letters and notify the taxpayer or representative by mail whether the voluntary disclosure has been preliminarily accepted or declined.

Complete Voluntary Disclosure Package

Once the voluntary disclosure has been preliminarily accepted, the taxpayer should send the full voluntary disclosure package no later than August 31, 2011 to:

Internal Revenue Service

3651 S. I H 35 Stop 4301 AUSC

Austin, TX 78741

ATTN: 2011 Offshore Voluntary Disclosure Initiative

Taxpayers wishing to make a voluntary disclosure that is not covered under this offshore initiative should contact their local IRS Criminal Investigation (CI) office to speak with a criminal investigator.

Tax administration questions such as Where is My Refund or Where Do I File can be addressed by other IRS offices.

---

• First Voluntary Disclosure program to report offshore accounts
• Second Special Voluntary Disclosure Initiative Opens; Those Hiding Assets Offshore Face Aug. 31 deadline
• 2011 Offshore Voluntary Disclosure Initiative (OVDI)
• More details on the 2011 initiative
• Contact points, mailing addresses
• OVDI deadlines

Mr. Martinelli goes to Washington

Panamanian President Ricardo A. Martinelli visited Washington and met U.S. President Barck H. Obama.










Last year, Martinelli was interviewed by Fox Business News.

Nikki Beach owners want Panama resort to stop using its name

After 6 years of aggressive marketing, the partners of the Nikki Beach panama development have parted ways. According to court papers filed by Penrod International, a Panama company Casa de Campo Farallon misused its Nikki Beach trademark to open a resort in December 2010 and finally to misrepresent the nature of their termination in a publication of February 10, 2011.

Eventually, the hotel changed its name to Royalton Playa Blanca, after a management agreement was signed with Blue Diamond, a hotel operations company owned by Sunwing Group of Canada. Panama company RG Hotels announced this change in a March 14 press release which still contained the NB word.

While U.S. courts may be appropriate venue for a legal action under U.S. law, a winning plaintiff could find problems when enforcing a judgment against assets abroad of the foreign defendant unless proper notice of the initial action from the beginning.

The 2007 article gives an idea of the high expections under which the original project was sold to individuals. Thse buyers may be the ones left to lose more as they purchased relying on an internationally known brand of the "sexiest hotel in the world".

---

Nikki Beach Severs Ties with Playa Blanca Resort

Playa Blanca, Panama (January 2011)

Nikki Beach has severed ties with a condominium hotel project under development in Playa Blanca on Panama’s Pacific Coast.

In 2007, Nikki Beach signed an agreement to operate Nikki Beach Hotel and Resort Playa Blanca, the first condo hotel in this coastal location. The opening was originally scheduled for 2008, but the project was delayed more than two years. The agreement has been terminated and all ties severed. Approximately 80 of the 140 condo hotel units are now finished, and the owner is continuing to market the property as a Nikki Beach Hotel & Resort.

Nikki Beach has no affiliation with the project and does not condone use of the Nikki Beach Trademark which is unauthorized and the subject of litigation.

For further information, please direct all inquiries to Nikki Beach Corporate, 786.515.1130.

Text from Company page http://www.nikkibeachhotels.com/ipage/notice.php cached in Google

---

Nikki Beach sues owner of Panama hotel

By Jerry Limone

Full text in http://www.travelweekly.com/Travel-News/Hotel-News/Nikki-Beach-sues-owner-of-Panama-hotel/#

Nikki Beach drops hotel project in Playa Blanca Panama, Due to non-compliance with brand Standards

February 11, 2011 05:44 PM Eastern Daylight Time

MIAMI BEACH, Fla.--(BUSINESS WIRE)-- Nikki Beach recently severed its ties with a condominium hotel project under development in Playa Blanca on Panama’s Pacific Coast, and has taken legal action against the local developer, Panama’s RG Inmobiliaria, according to Peter Higney, director of operations, Nikki Beach Hotels & Resorts, Miami Beach.

“As a global five-star brand, we set certain standards for the design, construction and operation of our properties”

“As a global five-star brand, we set certain standards for the design, construction and operation of our properties,” Higney said. "We have a responsibility to maintain our brand standards and under no circumstances would we allow the developer to use our brand and misrepresent us to our loyal Nikki Beach customers."

On Thursday Nikki Beach filed an injunction in U.S. District Court in Miami against the Panama developer to prevent the unauthorized use of its name, brand and any other intellectual property belonging to the company.

A growing global hotel and resort operator, Nikki Beach has a strong Hotel Division with offices in Europe and the Middle East. The company has 10 projects in the pipeline in locations such as Croatia, Greece, Cyprus, Qatar, Cape Verde, Thailand, Spain and new projects in the making, added Higney.

Referring to the situation in Panama, Higney said that as of August 2010, the local developer had breached an operating agreement by failing to conform to the brand’s standards, architectural guidelines and operating requirements, as well as by misrepresentation of the brand. Additionally, the developer missed the opening date in 2008.

Consequently, Nikki Beach declared the developer in default, but gave the developer another chance to correct the numerous problems found by an on-site inspection in September 2010. When the developer did not respond, Nikki Beach sent a notice of termination on November 22, 2010.

Without Nikki Beach serving as the “exclusive operator” of the resort as called for in the contract, the developer had no right to open the resort in December, 2010 using the Nikki Beach brands, added Higney, since Nikki Beach had no way to insure quality control over such unauthorized use of its five-star brand. “As a global lifestyle brand firmly growing in the luxury boutique hotel niche, protecting our brand’s standards and intellectual property are paramount issues,” Higney said.

Full text in http://www.businesswire.com/news/home/20110211006243/en/Nikki-Beach-Drops-Hotel-Project-Playa-Blanca

---

Nikki Beach owners want Panama resort to stop using its name

The Daily Business Review

...Panama resort to prohibit use of its name. Miami Beach-based Penrod International, which operates Nikki Beach, claims in a lawsuit filed Thursday in...

02/14/2011 John Pacenti Subscription Required

---

Penrod International LLC dba Nikki Beach v. Casa de Campo Farallon, S.A. dba Nikki Beach Playa Blanca Resort et al

Date # Docket Text 2/11/2011 6 MOTION for Preliminary Injunction and Supporting Memorandum of Law by Penrod International LLC. (Attachments: # 1 Exhibit A, # 2 Text of Proposed Order)(Peretz, Steven) (Entered: 02/11/2011) 2/11/2011 5 Clerks Notice to Filer re: Electronic Case - Documents Improperly Arranged. The Filer did not properly attach the Civil Cover Sheet & Summons. Future filings must comply with the CM/ECF Civil Case Opening Guide. It is not necessary to re-file this document. (vjk) (Entered: 02/11/2011) 2/11/2011 4 FORM AO 120 SENT TO DIRECTOR OF U.S. PATENT AND TRADEMARK (vjk) (Entered: 02/11/2011) 2/11/2011 3 Summons Issued as to Casa de Campo Farallon, S.A., Rugiere Galvez. (vjk) (Entered: 02/11/2011) 2/10/2011 2 Judge Assignment RE: Electronic Complaint to Judge Jose E. Martinez (vjk) (Entered: 02/11/2011) 2/10/2011 1 COMPLAINT for Compensatory Damages, Treble Damages, Statutory Damages, Injunctive and Declaratory Relief and Attorney Fees against Casa de Campo Farallon, S.A., Rugiere Galvez. Filing fee $ 350.00 receipt number 113C-3511301, filed by Penrod International LLC. (Attachments: # 1 Exhibit 1, # 2 Exhibit 2, # 3 Exhibit 3, # 4 Exhibit 4, # 5 Exhibit 5, # 6 Exhibit 6, # 7 Exhibit 7, # 8 Exhibit 8, # 9 Exhibit 9, # 10 Exhibit 10, # 11 Exhibit 11, # 12 Civil Cover Sheet, # 13 Summon(s) Casa De Campo, # 14 Summon(s) Rugiere Galvez)(Peretz, Steven) (Entered: 02/10/2011)

Court documents available in:

http://www.rfcexpress.com/lawsuits/trademark-lawsuits/florida-southern-district-court/70986/penrod-international-llc-dba-nikki-beach-v-casa-de-campo-farallon-s-a-dba-nikki-beach-playa-blanca-resort/summary/

http://www.scribd.com/doc/48621718/Penrod-International-v-Casa-de-Campo-Farallon-et-al

CASA DE CAMPO FARALLON, S.A.

PRESIDENTE RUGIERE GALVEZ

TESORERO MARUQUEL GALVEZ

SECRETARIO AURISTELA DE NARANJO

VICE-PRESIDENTE MARIO GOMEZ ESTRADA

---

Industry Insiders: Jack Penrod, Nikki Beach Principal

By Marcy MacDonald December 21, 2009

A family tragedy led entrepreneur Jack Penrod to choose a garden spot at his beach resort and name it after his daughter, Nikki. After some outside influences expressed interest in the location, Penrod decided to allow the garden to be used for parties and events, and it eventually became the well-known Nikki Beach Miami. The empire now includes locations in Cabo San Lucas, Marrakech, Marbella, Koh Samui , New York, Panama, St. Barts and Toronto, to name a few. The avid pilot and diver manages the jet set-friendly brand with his wife, Lucia and talks about the humble beginnings of a nightlife staple after the jump.

Full text in http://www.blackbookmag.com/article/industry-insiders-jack-penrod-nikki-beach1/14445

Comments by buyers in http://www.blackbookmag.com/comments/industry-insiders-jack-penrod-nikki-beach1/14445#comment-1

---

Nikki Beach Panama holds "Launching with Stars" http://mensual.prensa.com/mensual/contenido/2008/01/26/hoy/sociales.shtml Photo: Lucia Penrod and Rugiere Galvez, from prensa. com

---

Nikki Beach is Coming to Panama

By Mona Sutherland Published: 2007-01-22 Mona Sutherland

Mona Sutherland is the Search Marketing Specialist for WSI Panama.

A key player in the impressive growth of Panama real estate is the recently arrived Nikki Beach. Nikki Beach, created by Michael Penrod, is one of the trendiest beach clubs in Miami, frequented by celebrities and models. Nikki Beach possesses facilities in Miami and Hollywood in Florida, New York City, Saint Bartholomy in the Caribbean, Cabo San Lucas and Puerto Vallarta in Mexico, Marbella in Spain, Sardinia and Saint Tropez in the Mediterranean, in Morroco, and now, in Panama. Two hotel projects will be constructed and will operate under the brand Nikki Beach, one in Playa Blanca and the other at the Amador Causeway.

Michael Penrod, the international representative of Nikki Beach, was in Panama the first week of December to attend the launch of Destiny Real Estate Sales & Marketing. At the launch party, Destiny Real Estate & Sales presented three real estate developments to be constructed in 2007, which will be primarily promoted to the United States market. The three real estate developments represent a combined investment of 110 million dollars.

The project Casa Grande Luxury Beach Community involves a total investment of 60 million dollars over its three stages. The project, administrated by Nikki Beach International, will be located in Playa Blanca and possess a Polynesian style residential community, including a 100-room condo hotel and resort. Construction will commence in January 2007 and the first phase is scheduled for completion in December 2007.

Nikki Beach will construct the Panama Canal Hotel & Spa on the Amador Causeway, between the Yatch Club and the soon-to-be Ghery Museum. Approximately 30 million dollars will be invested in the Panama Canal Hotel & Spa, and construction will begin mid-2007. The arrival of Nikki Beach may attract a new crowd to Panama.

Traditionally, Panama has been an attractive destination for retirees, baby boomers and snowbirds. However, the concept of Nikki Beach is quite distinct from these other groups. Nikki Beach is focused towards an exclusive market: People over 30 with purchasing power that want to have a good time in an exotic, unique environment.

Nikki Beach is exclusive property of Michael Penrod and his family, though at some of their clubs and hotels they do maintain strategic alliances with local investors. Also, they own their own magazine, music division, clothing line and television station.

How did Nikki Beach arrive in Panama? Raul Almeida, Puerto Vallarta’s Nikki Beach representative, reveals that they were in search of new markets when they met Rugiere Galvez, president of Destiny Real Estate, who proposed the ideal. After they visited Panama, the rest was a matter of sorting out the details.

Panama could be the new destination for this exclusive market of “jet setters.” Almeida, stressing the positive economic impact that these projects have on a region’s tourism industry, spoke about the group of individuals that travel to other countries for a weekend’s entertainment, and that Panama could soon become a hit destination for this distinct crowd.

Penrod, who spent his entire visit signing contracts with 5 new hotels that will operate under Nikki Beach, added that they plan to offer a place where tourists and personalities can come during the winter to have a good time.

Pendrod has seen in Panama an “international environment” and believes that Nikki Beach will complement those characteristics. His aspiration is to make “something big” in Panama, such as celebratory parties for film or fashion festivals, such as those in Cannes and Venice.

From panamarealtor. com

.