Colón Free Port

Two companies have already registered in the system that allow operators in the Colon Free Zone to open subsidiaries for retail sales in the 16 blocks of the area undergoing a redevelopment process in the old town of Colon.

Monday, September 19, 2016

Companies wishing to apply to receive the benefits offered by Colón Free Port (CPL by its initials in Spanish) can now register as an infrastructure or commercial investor with legal advice to the Colon Free Zone (CFZ).

"... The process is similar to registering as a user of the colon free zone. The fee for registration is $250, and the investor must complete a form and provide various documents such as the notice of operation and the up to date ´Paz y Salvo´ document, among others.  To access the tax benefits provided by law, companies must meet certain requirements, such as hiring labor originating from Colon. Among the incentives are exemption from capital tax and tax on import materials, machinery, raw materials, tools and other inputs required for operations in the free port special system. "

Prensa.com reports that "...In August the advisory board of the CPL approved the list of products to be marketed in the area. These range from appliances, technology items, clothing, footwear and jewelry to items for the office and home furniture, cosmetics, and others. They do not include liquor, cigarettes or food."



More on this topic

Special Economic Zone for El Salvador

July 2018

A proposal has been made to create a special economic zone in 26 municipalities in the southeast of the country, which would provide tax incentives for activities related to clean energy and the prospecting of natural gas and oil.

The Executive presented to the Legislative Assembly a preliminary draft of the Law on the Special Economic Zone of the Southeast Region of El Salvador, which has the objective of developing 26 municipalities of Usulután, San Miguel and La Unión.

Colon Free Port is looking for Companies

December 2017

Promotion of the Colon Free Port regime will intensify next year, with tax incentives being offered to companies that settle in the commercial zone located on the Caribbean coast of Panama.

The objective of the law that already allows companies to set up in the 16 streets of the city of Colon, exonerating themselves from the payment of certain taxes, is to reactivate an area which in recent years has failed to take off, despite being one of the main doors of entry and exit of cargo and people on board ships and cruise ships.

Panama: Colon Investment Incentives Come into Effect

August 2016

With the entry into force of the law firms operating in Colon Free Zone will be able to open a retail sales branch in the 16 streets which make up the ´Casco Antiguo' area.

In order to implement the law the Secretaría de Colón Puerto Libre was formed, which will execute the strategy and facilitate the process for companies wishing to benefit from the incentives created. 

Panama: Incentives for Investment in Colón

March 2016

Companies in the Colon Free Zone will be able to open retail sales branches in the 16 streets of the 'Casco Antiguo' area.

From a statement issued by the Ministry of Commerce and Industry in Panama:

The full National Assembly approved on its third reading Bill No. 222, which amends and adds articles to Law 29 of December 30, 1992, for the effective implementation and operation of a Special System for the province Puerto Libre of Colon.