ICAZA, GONZALEZ-RUIZ & ALEMAN

Icaza, Gonzalez-Ruiz & Aleman was founded in 1920. Among the founders and partners of the firm can be encountered some of the pioneers who contributed to the creation ofthe legal structure of the country. Our firm has since been evolving and expanding alongside the international services center of Panama, delivering services of the highest caliber to both international and domestic clients and enjoying an unrivalled reputation.
Juan Lombardi (1875-1944)
Born on September 29th, 1875 in the City of Panama.
Professional Achievements:

Circuit and Superior Court Judge and Magistrate of the Supreme Court of Justice.
Author of The Penal Code (1922) and the Mining Code.
Chief Justice of the Supreme Court.
He participated actively in the discussion and writing of the code drafts that the Codifying Commission of 1913 was preparing, specifically with respect to the Civil, Commercial and Judicial Codes.

Carlos Icaza A. (1895-1979)
Born on December 29th, 1895 in the City of Panama.
Professional Achievements:

Alternate Judge of The Supreme Court of Justice of Panama in 1926 and from 1928 until 1931.
Minister of Public Works.
Admitted in 1920 to the District Court of the United States operating in the former Canal Zone.
President of the Bar Association of the Canal Zone in 1932.
Delegate of the Republic of Panama at the 1944 Chicago Convention on International Civil Aviation.
Member of the National Foreign Relations Council of the Republic of Panama from 1955 to 1968.

The Republic of Panama has been an important commercial and business center since the days of the Spanish colonization. It is currently an important international services center, which offers significant benefits for natural and legal persons willing to use Panamanian corporations and other planning structures, such as private interest foundations and trusts, for investment purposes or for managing and carrying out business activities worldwide or for estate planning. The following are some of the many advantages that Panama offers: Its geographic location and logistics infrastructures, which allow it to offer the best services of airfreight and maritime transport, both for passengers and cargo, serving as a connection point for the American Continent. The Panama Canal, recently expanded, with major ports on the entrances in both oceans. An excellent telecommunications system, with state-of-the-art technology. The Colon Free Zone, at the Atlantic entrance of the Panama Canal, the largest in the Western Hemisphere, which offers unique opportunities for tax-free storage, repackaging and re-exportation of goods of all kinds. The Panama-Pacifico Special Economic Area, at the Pacific entrance of the Panama Canal, which offers companies the opportunity of establishing themselves to develop, among others, assembling activities and rendering of certain services abroad. A strong banking system, highly regulated, which brings together more than 92 institutions, including some of the more important and most renowned international banks. The use of the United States Dollar as legal currency, which offers a total freedom to transfer and/or receive funds, since there are not exchange controls. Panamanian corporations are exempted from the payment of taxes on capital (shares, bonds and other investments). A relatively low cost of living. Political stability and good governmental infrastructure. Tropical climate, with beautiful beaches in both oceans and large rainforests with a vast biodiversity. The Panamanian tax system is territorial, therefore the law which regulates income tax in Panama specifically exempts from its provisions the following activities and sources of income: The management of operations from an office in Panama, provided that the same are completed, executed or are effective abroad. The invoicing from an office established in Panama, of the sale of merchandise or goods, provided that the same are exclusively managed abroad, without entering the Panamanian tax territory. Income from international maritime commerce arising from vessels registered under the Panamanian flag. With few exceptions, the corporate dividends or participations when said dividends or participations stem from income not produced within the territory of the Republic of Panama. Also, the interests accrued from the funds kept in time deposits or saving accounts. The Republic of Panama has a very modern and effective legislation which establishes strict controls to avoid the use of its facilities in unlawful activities. For further information regarding the facilities that Panama offers, please contact marketing@icazalaw.com

Practice Areas	No. of Attorneys
Corporate	24
Energy and Oil & Gas	1
Finance - Banking	5
Government and Government Relations	2
IP	5
Labor & Employment	3
Litigation - General (consumer)	1
Tax	1
Transportation	2