Within the conditions to operate under the Multinational Enterprise Headquarters regime in Panama, the requirement for a worldwide number of employees has been changed to instead include a requirement to have a presence in more than 40 countries.

From a statement issued by the Ministry of Trade and Industry:

The Ministry of Commerce and Industries (MICI) wishes to inform the public that the Multinational Enterprises Licensing Commission (SEM) has drafted and approved a new resolution replacing the requirement for a worldwide number of employees for a requirement to have a presence in more than 40 countries. Resolution 19-17 was repealed in its entirety. 

After hearing concerns put forward by several guilds, the new resolution clearly states that “at no time, cause or reason, is reforms or modification being made to the laws in force in the Republic of Panama.”

The Minister of Commerce and Industries, Augusto Arosemena, reaffirmed that the new requirements aim to make this special regime even more competitive and allow for the establishment of new regional branches in the country.

Read full press release (in Spanish).

Source: CentralAmeircaData.com