International Living has once again published their survey and Panama was at the top of the list for places to retire in the world. In Panama, a retired American couple can live on the beach and eat farmer’s market fruits and vegetables all year-round, without sacrificing the conveniences and amenities of home for $1,500 a month — all in. The cost of living is low compared to the quality of life in Panama, which is why the Central American country was named the best place to retire in International Living’s Annual Global Retirement Index for 2016. Already home to 50,000 US expats, Panama topped the index after raking in top scores across 10 categories including: buying and renting property, visas and residence, cost of living, environment and amenities, health care, infrastructure, and climate. The list was compiled after consulting a team of correspondents, editors and retirees around the world. New this year, voters were also asked to weigh in on two added categories which have emerged as important issues for expat retirees: healthy lifestyle and visas and residence. Couples interviewed for the index raved about their new life in Panama, where the sweet life is described as not only cheaper, but simpler and stress-free. “We’re healthier and living a better lifestyle here than we ever did in the U.S.,” says expat Mitzi Martain, who has lived on her farm near Santa Fe, Panama for nearly the last nine years. Added Connie and Mikkel Moller who have been in Panama since 2012: “Our stress level is 10 percent of what it used to be.” Utilities are a fraction of what retirees are used to paying back in the US, clocking in at around $100 a month for electricity, water, internet, cellphone cards, and trash pickup and allowing renters to live happily on $1,500 a month. That can be slashed by up to half for couples who own their own property. “In Panama’s capital I have the best of both worlds,” said IL Panama Editor Jessica Ramesch. “There’s a growing cultural and arts scene…opera showcases, art exhibit openings and handicraft festivals… [And] there are so many new restaurants every week, I stopped trying to keep track.” Here are the top 10 places to retire according to International Living’s Global Retirement Index 2016: 1. Panama 2. Ecuador 3. Mexico 4. Costa Rica 5. Malaysia 6. Colombia 7. Thailand 8. Nicaragua 9. Spain 10. Portugal
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As I am so accustomed to interviewing entrepreneurs, I was interested in the path of a Human Resources professional for such an international corporation with over 500 employees. So, I'm happy to present an interview with Katia Solano the Director of Human Resources for Mossack Fonseca & Co (MF).
Established in 1977, Mossack Fonseca is a leading global company which provides comprehensive legal, trust and accounting services. Katia's been at the company for more than 20 years. She's moved through many different positions, learning different skills along the way, from reception to filing and then as the personal assistant to one of the founders of the company. "I worked with the founder when MF was a pretty small company; we were around 30 employees at that time. Later, I worked on accounts receivables and payables, and then I came to the human resources department." Give me an overview of the work that is done in the human resources department. "Human Resources is a company-wide department, so it has to do with the human resources policies for the entire MF group―the hiring process, candidate selection, training and development, performance evaluation, benefits and salaries, internal communications, leadership development, deployment, cascading goals, the company culture, and induction, amongst others. I work closely with the CEO and the management team. I deal with all the managers of the different offices around the world. I have a team of six employees." To what degree do you keep your finger on the pulse of hiring? "I meet at least once a week with the Recruitment and Selection Specialist―she reports directly to the Human Resources Coordinator―but I meet with her once a week because the recruitment process is a key process in any organization. However, I don't interview candidates unless we are going to hire someone for a key position, like for example a lawyer or a management team member―somebody of a high level―whether here in Panama or in any of the offices abroad. In Panama it is very difficult to hire good people because the labor market is so tight." Katia, what do you do to recruit qualified employees, whether in Panama or abroad, when faced with a shortage of available talent? "Well it is very helpful that we have a well-known, highly respected name here―so lawyers, in particular, want to work at MF; I'm always receiving resumes in my inbox or through LinkedIn. We usually advertise our positions online. Plus, we are involved with universities―we maintain close contact with them and they always refer people to us for internships. We do the same thing with high schools―we usually have maybe 15 interns that are about to graduate from high school, so they do their internships here―many times when they finish their degree programs they apply to work here. In addition, we try to be involved in all the job fairs." Your internship program with students from high schools and universities sounds like a great way to evaluate talent. "Definitely, because when they come to intern with us we really do make an effort to teach them as much as possible. I insist that all our managers make sure to give them as much training and experience as they can handle. There are many companies that simply have their interns do menial tasks; however, I insist that we don't do that with ours. At MF, the interns learn about the company, its mission, culture, and values, and usually they like it and they go back to school or university with a good impression. They share that information with their friends and we usually receive some resumes from other students of the same schools that want to do internships with us. Also, there are many professors who know that we really train their students and they refer candidates to us." How important is it keep personally connected to the process of adding new personnel to the MF team? "It is very important because our recruitment process is integral to the future of the company―so to me recruiting talented people is directly related to the strategy of the company because we offer our clients specialized services so we really need to have talented people to be able to provide our clients with excellent service. " Do you have any hard-fast rules that are followed in your own selection of team members or those who will be working close to you? "Selecting a new employee is kind of tricky because it is not only that you want to have the person with the perfect profile, but you need a combination of skills and attributes―you need somebody who has the capacity and desire to do the job they have applied for―somebody who has a clear vision of what they want in the short and long term―and they have to be a good fit with our company." Do you have an anecdote or philosophy to share that comes to mind that would sum up your thoughts about hiring? "To me, attitude is everything. You may have a good candidate with the perfect academic background and experience, but if the person does not really want to do the job they are applying for, then we are wasting our time. Usually I hire people with little to no experience and then we train them; they appreciate that and they tend to stay for a long time." Katia's priorities and methodical approach align with Hiring Truth 1: Be diligent, not desperate from my book The Naked Interview: Hiring without Regret. She is ensuring the candidates are carefully selected and that they are cared for with training to help them stick. "Now, I know that millennial are different. I have millennial on my team and you have to know how to manage them to keep them interested and motivated. One way I do that is by assigning them various projects―you needs to work differently with them." "We keep them interested and motivated by offering them attractive benefits, continuous training and education―and the opportunity to move laterally (to work in a different department) and up―depending on the individual's skill set and our company needs. Another advantage of MF is our multicultural and international environment where they can work and interact with our colleagues and clients all over the world." "Everything is different now. I mean the usual human resources process is different now because you cannot plan their careers anymore; they have their career already planned and they evaluate the company to see if the company meets or exceeds their expectations and in particular, what the company is going to give them, so everything has changed." What is the best interview question you have ever used? "I use a combination of questions. When you are going to interview a candidate, you have to be clear about what you or the manager needs, and of course, what the company needs. Sometimes you need to help the managers to identify what they need. When I am doing an interview I pay attention to everything and usually I write down everything they say, so I will ask questions like: How do you see yourself (as a professional) in two years? ― What do you want to do? ― Why? ― What kind of company are you looking for? ―What would be your ideal job? I ask about previous bosses and companies to get an idea of what type of boss and company culture they like―or dislike." What has driven your personal success at Mossack Fonseca Group? "I like to serve people. I am proud of being a member of MF and also of the human resources department. I feel that we support MF―its management and reputation. I tell my people every day that we are service providers. To me, it is critical to be willing to serve our internal and external customers, and to maintain the highest professional standards." Interview by David Lee Jensen Monday, November 9th, 2015
With the authorization of the People's Bank of China, the China Foreign Exchange Trade System (CFETS) announced that beginning November 10, 2015 they will launch direct trading between the yuan, also known as the renminbi (RMB), and the Swiss Franc (CHF) on the inter-bank foreign exchange market. China is seeking to promote its yuan as a global reserve currency alongside the dollar, an ambition that depends on its willingness and ability to loosen tight restrictions on the currency's trade. One major step towards achieving Beijing's goal is convincing the International Monetary Fund (IMF) to include the yuan in its internal "special drawing rights" reserve currency basket. The IMF is expected to make its decision regarding the yuan in the near future. “This is an important step in strengthening bilateral economic and trade connections between China and Switzerland,” the People’s Bank of China said in a statement on its website. The link will help lower conversion costs and facilitate the use of both currencies in bilateral trade, it added. The yuan can only move up or down two percent against the US dollar from a mid-rate set daily by the central bank. The Swiss franc will be allowed to fluctuate five percent on either side of a central rate, the CEFTS’s statement said. Article from Mossack Fonseca The Mossack Fonseca Group recently planted over 1,000 seedlings in Camino de Cruces National Park as a part of National Reforestation Day and the “Alliance for a Million.”
Panama City, Panama – November 25, 2015 /PressCable/ -- Taking a more proactive approach to the issues associated with global climate change, the Mossack Fonseca Group offered its support for the reforestation efforts adopted by Panama and much of the rest of Central America through its participation in National Reforestation Day. Recognizing the importance of the role trees play in the recovery of degraded soils, the protection of the water supply, the absorption of carbon and the emission of oxygen, the planting of a wide variety of tree species on such a grand scale is a highly beneficial measure for further protecting the environment from the potentially devastating effects of unchecked climate change. The firm has a long history of environmental consciousness and has frequently participated in projects similar to the reforestation efforts taking place in Panama. In this particular instance, a large contingent represented the Mossfon Family at Camino de Cruces National Park to take part in the “Alliance for a Million” project undertaken by ANCON. In planting over 1,000 young seedlings throughout the park, members of the firm were able to assist ANCON as it seeks to achieve its lofty goal of stimulating the growth of forest and fruit species across 1 million hectares. With a focus on targeting the areas with the most pressing need for regrowth, members of the firm helped to ensure that forest management areas, river banks, natural forest areas and groundwater recharge zones benefited from the immediate attention. Those participating in National Reforestation Day surely understand the impact that deforestation has had on the world at large, but Central Americans in particular are acutely aware of the consequences that have been wrought throughout the region. Over the last 40 years alone, 40 percent of the rain forests have been cleared or burned, affecting the region’s ecological balance to a significant degree. Deforestation has affected air quality, caused soil instability and endangered the 80 percent of terrestrial life that calls the forest home. Given the pervasive and accelerated nature of climate change, efforts such as the one undertaken by ANCON and the firm are necessary for ensuring future environmental stability. About the Firm The Mossack Fonseca Group is a firm that provides exceptional legal, trust and investment consultancy to clients across the globe. Founded in 1977, the firm offers comprehensive services across every continent, specializing in international business structures, commercial law, wealth management and trust services. For more information about us, please visit http://www.mossfon.com Contact Info: Name: Mossack Fonseca Organization: Mossack Fonseca Address: 54th Street, Marbella, Panama Phone: 507-205-5888 (Mossack Fonseca) - Con éxito culminó la Primera Jornada de Comunicación Interna y su impacto en la empresa, organizada por el Sindicato de Industriales de Panamá (SIP), el pasado martes 17 de noviembre del presente año, con el objetivo de contribuir a gestionar las estrategias que han sido pensadas para alcanzar los objetivos comunicacionales internas en las organizaciones.
On October 20, 2015, Raquel Araúz, Esq., the head of Mossack Fonseca’s (MF) Intellectual Property Division, gave a highly informative interview to representatives of the MF Marketing Division.
Raquel, we would like our readers to get to know you; please tell us about yourself and your career prior to working at MF My pleasure, I’m 38 years old, and for the past 10 years I have been working here at MF. I started out as a legal assistant for Attorney Sara Montenegro. I then began developing the Intellectual Property (IP) Division with the guidance of Attorney Joanna Soto. I have been the director of the IP division since its inception four years ago. Prior to joining MF, I spent several years working as an IP executive assistant, specializing in managing and protecting trademark portfolios. Please tell us about your legal and continuing education I attended the Latina University (Universidad Latina) in Panama where I studied law and political science. I have been a member of the International Trademark Association and the Inter-American Association of Intellectual Property for the past six years. The International Trademark Association is a congress that brings together around 10,000 IP agents and lawyers. A group of our lawyers, along with the IP Division have been working really hard with these two associations. Last year, for the first time, we attended the International Anti-counterfeiting Coalition meeting―they are an organization focused solely on combating product counterfeiting and piracy. We also regularly attend local seminars and congresses to continually update our knowledge base. In May of this year, my colleague Attorney Li An Chong and I were invited by the Panamanian consulate in Venice to talk about our complete range of legal services, as well as IP matters. We discussed the benefits of trademark registration with the Venice Chamber of Commerce and the Verona Chamber of Commerce. In addition, Attorney Amauri Batista is a member of the International Offices Committee and the International Trademark Association. Please tell us more about your team here at MF I am fortunate to have a talented and highly committed team. I have an extremely able attorney, Jorge Gutierrez, who recently earned his master’s degree in litigation procedure. I also have a business administrator, Milena Pinilla, who is my IP analyst, and Eric Carvajal who is my legal assistant―he is in charge of monitoring our litigation process before the court. The team works directly with and is supported by a truly outstanding group of lawyers in our Legal and Trust Services Department. What are the benefits of going to MF instead of another provider? First and foremost, our dedication to quality service: MF is the only ISO 9001 certified law firm in Panama. We have over 500 staff members across every continent, and more than 35 years of experience. Our clients can register and protect their trademarks, patents, and copyrights not only in Panama, but in any country in the world, through our allied offices. We offer the highest commitment and most competitive costs and to our clients. How would you define intellectual property? It is the development of ideas, the creation of the mind, our inventions, dreams, art, and designs that should be protected―to make them unique. It is important to protect the rights over those designs, products or services―for many reasons―to avoid third parties taking advantage of your work. That’s the way I see it, I see it in a very passionate way. Keep in mind that intellectual property goes beyond simple trademark registration―it is everything that comes after that, and we work hard to ensure that no one else can take advantage of our client’s dream. Please give us some specific examples of what constitutes intellectual property Sure, we have been protecting trademark registration for all kinds of products and services―everything from cosmetics, fashion, sports, medical and pharmaceutical goods, education, entertainment, financial services, management, and many others. Right now we are working with software developers. In fact, recently we have been working on protecting software developed by the Microsoft Corporation. We protect Giorgio Armani which is one of our strongest trademarks. We also provide trademark protection for Terpel, a company with over 2,000 gas stations in Central and South America. Have you worked with artists? Yes, I can give you a quick list off the top of my head of artists/celebrities that we are representing: Ingrid De Ycaza and Alfonso Bayza, both well-known singers; Ana Lucia Herrera, a local television producer; a well-known DJ, who goes by the stage name BK; Delian Arjona, a celebrity chef; Jossy Jimenez, a TV personality; Marita Art, an artist and painter; and the Mollar Group, who make hats and clothing with indigenous Panamanian designs. What about authors of books or articles? One example I can think of right away is Arriane Benedetti, who wrote the book “Más que Hermanos”. We made the copyright for her a month ago. Have you worked with the pharmaceutical industry? Sure, right now we represent the Megapharma Group, as well as Pharmavital, S.A., a company whose main products are anti-aging and life-lengthening medicines. Have you worked with the food industry? Oh, yes, absolutely. We are currently registering and protecting products such as bottled water (Aquacai), juices, hats, rice, condiments, dairy, and more. We also register and protect franchises (Chip a Cookie, Wendy´s) and well-known local restaurants (Athen´s Pizza, Brava) and, likewise, we are obtaining sanitary registrations before the Health Ministry―for all kind of foods, including: Ubuntu, maker of all-natural orange and pineapple juices. That’s great. Let’s talk about trademarks, trade names, and designations of origin trademark registration. Can you give us a brief overview of this part of your work and give an example? Sure. What we mostly do is trademark registration in Panama and abroad; 80% of our clients contact us because they want to centralize their trademark registration in Latin-America through our office. We are able, with our global reach, to provide that kind of service, from the availability search to obtaining the final trademark certificate. A good example is Mays Zona Libre, an import-export company located in the Colon Free Zone, with more than 25 trademarks in more than seven countries, including some in the Caribbean Islands. We also provide comprehensive guidance and service to entrepreneurs. And when you say global reach, do you have connections with law firms all over the world? Yes, all over the world. We have a huge list of IP lawyers and agents for each country throughout the world. We have more than one allied office in each country and we have been developing these relations through the years―so right now we are covering the entire world. For example, recently we started working with a client that creates software that is very similar to the Android Operating System―and they designed and manufactured a new smartphone. They developed their trademark in Honduras and we have been registering their trademark throughout all of Central and South America with enormous success. What about the area of patents and industrial designs? Right now, we have only 11 patents, but we are looking to greatly increase our market share in this area with a major marketing campaign scheduled to begin in January 2016. We are working on a brochure and a social media presence on Facebook, Twitter, and Instagram. Specifically, we are working on a campaign that should reach pharmaceutical labs like Pfizer and Genomalap―and we would like the labs that we are already representing for trademark registrations to also use us for their patent registrations. How about copyrights and related rights. Can you give us a brief overview and an example? We have been registering copyrights involving audio, media, books, software, and others. The software copyright is for Microsoft. Recently, we applied for the copyright of Aquacai―it involved the design of their water bottle―the bottle has a unique form that should be protected because in the bottom they have a mound from which the water is extracted. We protect that copyright for them not only in Panama but also in China and the USA. What about litigation? We have an experienced team of litigation lawyers at MF. Attorneys Sara Montenegro, Li An Chong, Amauri Batista, Alexandra Kourany, and Jorge Gutierrez, have all been defending the rights of our clients before the commercial courts, in the commercial area of civil matters. Sara Montenegro has a long history of winning cases. I’ll give you an example. We had a client who was a professional athlete. She had a contract with a company that took advantage of her by claiming to have registered her alias. She wanted to use her alias to start her own clothing line. Unfortunately, the other company was already using her alias to sell clothing and other sports-related products. We soon found that she had never authorized the company to use her alias. At the end of the legal process we won the cancellation of the trademark. As you know, Panama is a major logistical center for the transfer of goods through the Colon Free Zone. It is an ideal location to protect trademarks. Counterfeit goods are damaging in two ways: they drive down the prices of the legitimate product and, because they are typically of inferior quality, damage the brand as well. We work closely with the Customs Office to protect our clients’ interests, and do not hesitate to institute litigation whenever necessary. Regarding the areas of sanitary or health and medical registration―we touched on it a little bit earlier, but would you expand on that area for us? Yes, well, in addition to food and pharmaceutical registrations that we talked about earlier, we have been requesting registrations before the health ministry for cosmetics such as shampoos, conditioners, and personal hygiene products which are also regulated by the government. MF offers a full-suite of legal and financial services―how does that help you in the IP Division? It helps tremendously. MF is a one-stop shop where our clients can manage all of their legal and financial matters with one company. We offer our clients company formations, accounting services, asset management, immigration, trusts, foundations, and many other products and services. We also offer our secure, client portal whereby our clients can access their accounts 24/7 from anywhere in the world. We are making a huge effort to promote not only IP services, but all that MF has to offer. It helps our clients to know that we have a multi-disciplinary team that is always prepared to give them the very best service in the industry. ML | Al estilo de las grandes estrellas de Estados Unidos, Ana Lucia Herrera, Diego de Obaldía, Delyanne Arjona, Alfonso Baysa, Ingrid de Ycaza y Jossie Jiménez, son figuras públicas que no quieren correr riesgos con los plagiadores. Todos optaron por cuidar sus marcas, patentes y derechos de autor a través de un registro en la división especializada en propiedad intelectual, de la firma Mossack Fonseca.
The Banker magazine’s recent survey has confirmed the Cayman Islands position as the world’s number 1 specialised financial centre. The jurisdiction’s dominance as a leading banking centre remains firm as this is the seventh consecutive year that the Cayman Islands has maintained the top spot in this highly-regarded, global survey, reports Cayman Finance. “This unprecedented dominance in banking confirms our role as a global facilitator of the allocation of Investment capital and financing around the world through excellence, innovation and balance in global financial market products and services,” said Mr. Jude Scott, CEO of Cayman Finance. Mr. Scott said that the leadership of the Cayman Islands as an international banking centre can be attributed to a combination of the world’s top professionals and the jurisdiction’s strong legislative and balanced regulatory framework. “The Banker Survey is a prestigious global survey and it is indeed encouraging to see that our efforts together as a jurisdiction are achieving consistently high results in terms of global recognition. With over 12 points between us and the next ranked jurisdiction it is clear that we continue to demonstrate the excellence in client service that maintains our position as the leading specialized financial centre”, Scott added. Hailing strong working relationship between the Cayman Islands Government, the Cayman Islands Monetary Authority, the judiciary and the financial services industry as a key factor in Cayman’s success, Mr. Scott said that these organisations recognize the jurisdiction’s important role in the global financial market and have continually demonstrated a commitment to ensuring the strength of the banking sector. Cayman’s modern and robust infrastructure, tax neutrality with a key focus on tax transparency, geographical location, best in class banking professionals, English speaking population and business friendly environment facilitate the accessibility of banking services to an international clientele, he added. The Banker magazine is part of the globally recognised and respected Financial Times Group. The IFC rankings are based on data ranging from financial market indicators, economic potential, and business environment factors. The rankings focus on the level of international business and the value for institutions seeking to expand their international operations. Of the specialised financial centres, Cayman is followed by Jersey, Guernsey, and the Bahamas, in second, third, and fourth place, respectively. Source: http://www.mossfon.com |
About USThe Mossack Fonseca Group is a leading international corporation which provides comprehensive legal, trust, technological and accounting services. With over 500 staff members in all continents, Mossack Fonseca provides personalized advice based on more than 36 years of experience in the market. They also offer world-class service through their exclusive online services which are available 24 hours a day. Archives
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