In a recent meeting with National Coordinators of the Financial
Action Group for Latin America (GAFILAT), it was announced that
Panama was designated as Vice-President for 2017 and President for
2018. At this meeting Panama's effort to improve the system for
preventing money laundering and financing for terrorism was also
Panama as a member of GAFILAT will be evaluated within the
framework of the Fourth Round of Mutual Evaluations 2017, based on
the evaluation calendar approved by this group.
PANAMA - SPECIAL ECONOMIC ZONES
Investments in the Free Zone grow
Three new companies from Spain, Argentina, and Jamaica will
invest eleven million dollars to set up operations in Panama under
the free zone regimes. Making the total number of companies in free
zones reach 163, with an additional investment in 2016 of US$55,95
Free zones in Panama are regulated by Law 32 of 5 April 2011,
which allows for the establishment of companies from all around the
world, whose activities are the production of goods, services,
high-level technology, scientific research, higher education,
logistics, environmental, and health services, as well as general
Colon Free Port
From December 4th, 2016 the special fiscal and customs system
will enter into action for free trade in 16 streets in the province
of Colon, including clothes, shoes, jewels, computers, perfumes,
toys, televisions, telephones, watches, and others.
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Following an evaluation of Hong Kong in 2008, the Financial Action Task Force ("FATF")1 identified the following deficiencies in the Hong Kong anti-money laundering ("AML") and counter-terrorist financing ("CTF") regime
Enhanced and additional measures have been established and applied by the Central Bank of Cyprus through amendment of its directive on Prevention of Money Laundering and Terrorist Financing issued on 7 April 2016
The Cyprus Securities and Exchange Commission's (‘CySEC) (Amending) Law of 2016 18(I)/2016 for article 30 of the Prevention and Suppression of Money Laundering and Terrorist Financing relating to the application of articles 61 and 62 of Law 188(Ι)/2007, pertaining to the identity verification of clients/beneficial owners, has issued a consultation paper ...
The Unit refers to the above matter and clarifies the following, in relation to the names of companies and natural persons, included in the above documents which have being published.
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