More SEM Companies Arrive in Panama

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.

Thursday, November 7, 2019

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).

You may be interested in "New Rules for SEM Companies in Panama"

Tay Lin Chen de Recuero, General Director of Multinational Companies Headquarters of MICI, explained to Prensa.com that "... The amount of investments of the SEM companies, so far in 2019, is estimated at one billion dollars and the generation of more than 3 thousand 93 jobs, between foreigners and nationals."

The article adds that "... The Austrian Doka Group, Complant and JCDecaux are among the business groups that obtained their licenses last month. Between the three transnationals an initial investment of more than 2 million dollars is estimated."

Since 2007, 157 companies have been established in Panama under this type of regime.

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More on this topic

Decrease in SEM Companies' Arrival in Panama

January 2019

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.

New Rules for SEM Companies in Panama

July 2018

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.

Panama: More Companies in the SEM Regime

December 2017

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. 

More Flexible Rules to Attract Foreign Companies

September 2017

Within the conditions to operate under the Multinational Enterprise Headquarters regime in Panama, the requirement for a worldwide number of employees has been changed to instead include a requirement to have a presence in more than 40 countries.

From a statement issued by the Ministry of Trade and Industry:

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