Ministry of Commerce and Industries (Panama) Business and Investment Special Regimen for Multinational Corporations Establishment and Operation José Domingo Arias Multinational Corporations foreign investment transnational corporations Augusto Arosemena BMW Company Foreign Direct Investment Investment Opening business Regional Headquarters incentives

Philips, BMW y Genzyme Set Up Shop in Panama

Electronics corporation Phillips, luxury car maker BWM and Genzyme Corporation labs will install regional headquarters in the country.

Thursday, October 29, 2009

These companies have applied under Law 41, which created a special regime for Headquarters of Multinational Corporations.

"BMW Latin America ... will expand its regional operations, absorbing part of its administrative and operational functions from Venezuela, Brazil and Argentina. Phillips ... will move its administrative operations to Panama. ... they are joined by Genzyme Corporation, a leading Biotech company", reports Laestrella.com.pa.

Source: laestrella.com.pa

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Key entities

Phillips Electronic Genzyme Corporation BMW Ministry of Commerce and Industries (Panama) José Domingo Arias

Countries

Panama

Insight

Regional Headquarters Special Regimen for Multinational Corporations Establishment and Operation Business and Investment

German Company Shows Interest in Panama

November 2011

Representatives from Dräger are in the country to review the conditions Panama could offer as a regional headquarters for their medical technology and security business.

A press release from Panama's Ministry of Trade and Industry (MICI in Spanish) states that the German delegation, headed up by Patricio Cajiao, has met with José Pacheco Tejeira from Panama's Foreign Ministry to express its interest in setting up operations in the country.

Three New Multinationals in Panama

November 2010

Germany's Bosch and Kuehne + Nagel, and Spain's Puig have selected the country to establish their regional headquarters.

These three multinationals will benefit from Law 41 of 2007, used by 40 already established companies, which provides tax, immigration and labor benefits.

Otis Elevators To Open Regional HQ in Panama

April 2010

The Commerce Ministry of Panama announced that company Otis Elevators will install its regional headquarter in Panama.

Otis becomes the 33rd company to take advantage of Law 41 of 2007, which created a special regime for establishing and operating regional headquarters for multinational corporations.

Heineken will Set Up Base in Panama

August 2009

The subsidiary of Heineken International B.V. decided to establish its regional headquarters in Panama.

Roberto Henríquez, Commerce and Industry Minister, stated that the brewer was attracted "not only by fiscal incentives, but also for geographical and logistical advantages offered by Panama for coordinating operations from their global headquarters in the Netherlands".