Increasing the Attractiveness of Investing in Panama Pacifico

The government is promoting a bill that will modernize the tax status of high-value services and the movement of goods from the zone to other countries.

Thursday, October 30, 2014

From the preamble to the draft submitted to the National Assembly of Panama:

Law 41 of July 20, 2004, created the Panama-Pacific Special Economic Area as a scheme for legal matters, tax, customs, labor, immigration and special business, oriented towards encouraging and promoting investment, job creation and to make the Republic of Panama more competitive in the global economy.

The Panama-Pacific Area is being developed through a Master Plan, which as a result of an international tender, undertook the task of developing, managing, promoting and operating a substantial part of that area, called the Panama-Pacific Project, based on a development scheme and scheduled investments with a minimum investment commitment of B / 700 000 000.00 over 40 years. All of this in order to provide the area with ​​the infrastructure and conditions needed to attract investments that generate economic activity and jobs, depending on the objectives under which the special legal status of the area was created.

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.

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.

Update to Incentive Law for Panama Pacific

January 2015

A law has been approved which updates the tax treatment of high-value services and movement of goods from the free zone in Panama Pacific to other countries.

From a statement issued by the National Assembly of Panama:

The full National Assembly approved on its third reading Bill 118, which amends Article 41 of the Law of 20 July 2004 on the Panama-Pacific Area and adds Article 91-A.

Panama Continues to Attract Foreign Investment

December 2014

The special tax regime for multinationals which have an established site in Panama remains the main factor, while the low supply of trained personnel has been identified as a serious problem.

In addition to tax incentives offered to companies that set up offices, there are also special areas such as Panama Pacific and the Colon Free Zone, whose special schemes offer other incentives for companies to set up there.

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