Creation of Businesses in Panama Increases by 21%

Streamlined by the "Panama Emprende" platform, requests for new companies increased 21.2% in the first quarter of 2013 compared to the same period in 2012.

Monday, April 15, 2013

Figures from the state run website "Panama Emprende", revealed that during the first quarter of 2012 the site recorded 7396 notices of start of operations, 404 less than the same period in 2011.

"Last year the Panama Emprende platform was modernized with an investment of over $500,000 and it allows employers, in a time estimated by officials of the Ministry of Trade and Industry (MTI) , to obtain in 45 minutes, a notice of operation a business just by having an email address and entering their personal identification number, not needing any other prerequisite for the activity," noted an article in Capital.com.pa.

The statistics from Panama Emprenden also reveal that in 2011, 26,505 notices were generated while in 2012 the figure increased to 28,406. In addition the capital invested, according to information provided by employers was $1.0248 billion in 2011 which then dropped to $889.1 million in 2012.



More on this topic

Bureaucracy Delays Small Investments

September 2018

28% of the SMEs in Costa Rica stated that obtaining a municipal permit to start operations was the most complex procedure, while another 17% says that the process of registering with the department of Taxation is the most onerous.

According to the III National Survey of MSMEs, prepared by the State University at a Distance (UNED) and the University of Costa Rica (UCR), for micro, small and medium enterprises (MSMEs) obtaining a municipal patent for operation and registering as a new taxpayer, are the two procedures that most affect the start up of their operations.

Trade Growth in Panama

August 2012

As a result of the economic dynamism, there is a constant arrival or creation of companies offering products and services to the Panamanian market.

La Chorrera, Arraiján, San Miguelito and Panama City are the areas where announcement of start of operations are being made, the basic procedure for starting a business.

Extremely Easy to Open a Business in Panama

April 2012

A Notice of Operations is the only process required in order to start up a commercial or industrial activity in the territory of the Republic of Panama.

During the first quarter of this year the Panamanian system recorded 7,396 such notices, which is about 404 less than in the same period in 2011. But exceeded the 7,043 notices during the first quarter of 2010.

20,638 New Companies in Panama

June 2009

Most of the companies that were registered through the Panamá Emprende system are in the services and retail sectors.

During the last 12 months, 67.7% of the new companies were established in the capitol, 10.6% in Chiriqui, and 21.6% were from throughout the rest of the provinces.

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