Millicom CAM SEM, S.A. and Upfield NL Holdings Two B.V., were the companies that were recently established as Multinational Companies Headquarters in the country.
Thursday, August 22, 2019
From the MICI statement:
MICI 13-08-2019. The Commission of Headquarters of Multinational Enterprises (SEM) of the Ministry of Commerce and Industries (MICI) recently approved the establishment of two new multinationals in the country, after complying with all the requirements set forth in the Law.
These are the companies Millicom CAM SEM, S.A. and Upfield NL Holdings Two B.V., which enter the special regime of SEM, to provide services to its subsidiaries in Central America and the Caribbean, mainly, and whose initial projected investment (between the two companies) is approximately US$ 1.7 million.
The Millicom group, headquartered in Luxembourg, offers digital and telecommunications services in emerging markets through mobile and fixed telephony, cable, broadband, pay TV, among others.
Upfield NL Holdings Two B.V., headquartered in Rotterdam, The Netherlands, is dedicated to plant-based consumer products and has iconic brands in different markets such as Flora, Rama, Blue Band, Proactiv, Becel and Country Crock, making it one of the most prominent companies in the industry.
Adding these two new SEMs, the Headquarters Management of Multinational Companies currently reports 159 companies registered under the regime, which represent an approximate foreign investment of US$3 billion.
¿Busca soluciones de inteligencia comercial para su empresa?
So far this year, 17 new company licenses have been approved in the country under the Multinational Companies Headquarters regime, a figure that is higher than the 7 that were reported throughout 2018.
In addition to the 17 companies that already obtained their licenses in 2019, there are 7 other companies that are in the phase of evaluation by the Commission of Headquarters of Multinational Enterprises of the Ministry of Commerce and Industry (MICI).
Modifications made to the law regulating the SEM regime in the country, would have been the reason for reporting during last year the establishment of only seven new companies of this type.
Among the reforms to the special regime for the establishment and operation of Sedes de Empresas Multinacionales (SEM) made in 2018, it is worth highlighting that companies must have a minimum number of full-time permanent employees, and in addition, a tax rate of 5% was imposed on the net taxable income derived from the services rendered.
Having a minimum of five full-time permanent employees is one of the requirements that companies must meet in order to obtain a Regional Offices of Multinational Corporations license, if a bill from the Varela administration succeeds.
The bill presented by the Ministry of Commerce and Industries (Mici) to the National Assembly contemplates, among other things, the new conditions that must be met by companies seeking to obtain a license as Regional Offices of Multinational Corporations (SEM by their initials in Spanish).In addition, it details a proposed law reform, under which companies must generate annual operating expenses in the country of at least $500,000.
Six new foreign companies will be establishing their regional headquarters in the country, under the conditions of the Multinational Company Headquarters regime in Panama.
From a statement issued by the Ministry of Trade and Industry:
MICI 11-12-2017.Confirming once again the competitive advantages offered by the Panamanian isthmus as the great connection of the Americas to the world, six new companies will be establishing their regional headquarters in Panama, with a direct investment -only in its first year of operation under the SEM regime. - of more than four million dollars and the creation of some 200 jobs.
×
ok
6931Government Procurement Opportunities in the region
español
6931
