Executive Summary LAW No. 41 of 24th August 2007 SPECIAL ...

8. Advice, coordination and pursuit of marketing trends; and merchandising of
assets and services produced by its enterprise group.
9. Operations and research support, and development of products and services of
its enterprise group.
10. Any other analogous service previously approved by the Council of Cabinet by
means of motivated resolution, whenever it fulfills the Law.
OBLIGATIONS OF THE ROMC:
1. To present to the Technical Secretariat of the Commission for Licenses of a
ROMC an annual report that contains the statistics concerning its operations
within the national territory.
2. To communicate immediately, to the Commission for Licenses of a ROMC, any
change related to the status of its operations in the country, as well as of their
personnel.
The companies in this regime of a ROMC will have to operate as a foreign company
enrolled in Panama or like a Panamanian company owned by a multinational company,
its subsidiaries or affiliates.
For purposes of the law, it will not be deemed as multinational company, nor as a
company included into this regime of ROMC, companies such as law firms that directly
offer services to clients or different companies or to others outside its enterprise group
from Panama, or through a subsidiary or branch abroad.
AUTHORITIES
Commission for Licenses of a ROMC
It is a counseling and advisory governmental branch in regards to the establishment of
regional offices. Among its powers the law provides for the establishment of
requirements for granting Licenses of a Regional Office of Multinational Company
(ROMC).
Technical Secretariat of the Commission
The law sets forth the following functions, among others:
1. To grant licenses of a ROMC to companies requesting it and fulfill its
requirements, previous recommendation of the Commission.
2