Panama: Registration of Companies in Colon Free Port

Those interested in taking part in the pilot project must be recorded in the ZLC in order to be able to set up in one of the 16 streets in the city of Colon where the special system is in effect.

Tuesday, December 6, 2016

The store Nevada, which sells health and beauty items, was the first to purchase a property in one of the 16 streets in which the special system will be in effect. According to Maria Vanessa Ford, executive secretary of the Colón Free Port (CPL by its initials in Spanish), an electronics company and another company dealing in clothing, cosmetics and perfume will be part of the system under a test environment.  

Ford told that "... 'One of the main functions of the secretariat is to promote the system, promote more investors to join, and that is part of the strategy we will use next year to attract investors, both internal ones, which are already located in the CFZ as well as foreigners'."

"... This process is similar to the registration of a user of the free zone.  To do this, they must meet certain requirements, such as: pay a registration fee of $250; complete a four-page form and attach existing a valid "Safe and Sound" report, a photocopy of the personal identification card or passport of the legal representative of the company; and a Certificate from the Public Registry, among others. "

The products marketed in CPL range from appliances and technological items to clothing, shoes and jewelry, among other things. See: "What Can be Sold in Colón Free Port"

More on this topic

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.

What Can be Sold in Colon Free Port

October 2016

Among the goods which will be able to be sold tax-free in the 16 streets in Colon are articles of clothing, footwear, jewelry, phones and watches, among other things.

From December 4 the list of goods which will be able to be sold duty free, within the 16 streets of Colon, will come into effect. Some of the items that were added to the list are: confectionery, electronics, televisions, computers, toys, perfumes, shoes, watches, and jewelry.

Colón Free Port

September 2016

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.

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).

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.