Deputies of the Panamanian Assembly approved in third debate the bill creating the Special Regime for the Establishment and Operation of Multinational Companies for the Provision of Services related to Manufacturing.
The services of these multinationals will be able to be developed in different provinces of the country and will work in product manufacturing, equipment machinery, product packaging services, machinery and equipment, the Assembly informed.
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.
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).
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.
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.
Protectionist measures that favor dominant firms in domestic markets only extend the inevitable process of globalization, making it more expensive for consumers.
Whether a milk is 'good' or not is decided by consumers themselves by evaluating its quality and cost.Milk has no nationality.It's just milk.
At the close of the first semester 13 new licenses will have been approved giving foreign companies the ability to operate under the Site of Multinational Corporation regime.
The companies that requested permission to set up in the country under the Site of Multinational Corporation (SEM) regime come from the United States, Denmark, Scotland and the Netherlands, among other countries, explained Trade Minister Augusto Arosemena.
As a result of the economic dynamism, there is a constant arrival or creation of companies offering products and services to the Panamanian market.
La Chorrera, Arraiján, San Miguelito and Panama City are the areas where announcement of start of operations are being made, the basic procedure for starting a business.
In an article in Martesfinanciero.com Virgil Sousa, national director of the Ministry of Commerce Trade and Industry (Mici), notes that "the areas where there have been the most announcements for operations registered are Chorrera, Arraiján, San Miguelito and the capital. This is due to the construction of new shopping centers in these development points. "
Some 58 multinationals have settled in Panama in the past two years, particularly in the special area of Panama Pacífico, contributing $40 million with the start of their operations.
The Minister of Trade and Industry, Ricardo Quijano, said the opening of these 58 multinational operations contributed $40 million and multiplied opportunities for economic growth.
Faced with an inevitable slowdown, Panamanian real estate operators are looking for new buyers in Asian TNCs.
Sales have fallen by up to 40% in the housing sector and it is necessary to explore other market niches to offer existing inventory and continue growing.
Taking advantage of the incentives that Law 41 provides to firms that locate their regional headquarters in Panama, the Panamanian Association of Real Estate Brokers (ACOBIR) is making efforts to cultivate partnerships with real estate associations in other countries.
Recognized Brazilian company of backhoe loaders, telescopic, articulated and other types of cranes looking for companies interested in representing the brand and distributing their machinery in Central America and Mexico. The company manufactures and sells telescopic,...