In Panama, during the first eleven months of 2019, 12,763 corporations were registered in the country, 4% more than those reported in the same period of 2018.
The last report of the General Comptroller of the Republic details that between January and November 2018 and the same period in 2019, the number of corporations registered in the country increased from 12,272 to 12,763.
During the first nine months of 2019, 10,476 corporations were registered in Panama, 3% more than those reported in the same period of 2018.
The latest report of the General Comptroller of the Republic details that between January and September of last year and the same period of 2019, the number of corporations registered in the country went from 10,146 to 10,476.
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).
In Panama, during the first four months of 2019, 4,314 corporations were registered in the country, 8% less than those reported in the first quarter of 2018.
The latest report of the General Comptroller of the Republic details that between the first quarter of last year and the same period of 2019, the number of corporations registered in the country went from 4,692 to 4,314.
From January to April of this year, the number of mercantile companies registered totaled 13,975, 15% more than the number reported in the same period in 2018.
Data from the Mercantile Registry (RM) specify that between the first four months of 2018 and the same period of 2019, 1,783 more companies were registered in the country, going from 12,192 to 13,975.
During the first three months of 2019, 3,128 anonymous corporations were registered in the country, 12% less than those reported in the first quarter of 2018.
The most recent report of the General Comptroller of the Republic details that between the first quarter of last year and the same period of 2019, the number of corporations registered in the country went from 3,543 to 3,128.
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.
28% of the SMEs in Costa Rica stated that obtaining a municipal permit to start operations was the most complex procedure, while another 17% says that the process of registering with the department of Taxation is the most onerous.
According to theIII National Survey of MSMEs, prepared by the State University at a Distance (UNED) and the University of Costa Rica (UCR), for micro, small and medium enterprises (MSMEs) obtaining a municipal patent for operation and registering as a new taxpayer, are the two procedures that most affect the start up of their operations.
With the amendments to the Commercial Code, it is now possible to register a limited company on the Mercantile Registry site and registration of individual merchants will soon be available.
The changes to the regulations becameeffective at the end of January, and among the most important modifications were the reduction of initial capital for the creation of a company, going down from Q5 thousand ($681) to Q200 ($28).
A process has begun for non-financial companies to register and start to report transactions considered as suspicious under the new law on prevention of money laundering.
From a statement issued by the Ministry of Economy and Finance:
The Municipality of Supervision and Regulation of Subjects in the Non-Financial and Financial Analysis Unit (UAF) has initiated the mass registration form "Data Update for Obligees" (ADSO by its initials in Spanish) with the aim of modernizing the system for sending Suspicious Transaction Reports and Cash Transactions Reports required by Law 23 of April 27, 2015, which establishes measures for the prevention of money laundering and terrorist financing.
The time it takes to open a business has reduced from 36 to 13 days, and the number of procedures required to do so from 7 to 6.
Excerpt from the executive summary of the "Economic Report 2016 Cross-Border Trade Institutions and Red Tape" by Funides:
In this document the Nicaraguan Foundation for Economic and Social Development (Funides) will address issues of cross-border trade and red tape, particularly in relation to the ease of import and exporting, creating or formalizing a business and paying taxes and for social benefits.
An announcement has been made that as of October 24th all registration formalities in the registry may be made electronically through a new platform.
From a statement issued by the Public Registry of Panama:
In order to optimize the services offered to users and the general public, the Public Registry of Panama, within the framework of modernization, will run the Registry Electronic Registration System (CRS), a new technology platform that will provide greater legal certainty over private property and other rights on goods which are registered with the entity.
The Spanish company Talent Ingeniería, Instalaciones y Servicios S.L., had been awarded the construction of phase 2 of the plant 's wastewater treatment plant area in San Benito, Petén .
The note sent by the Controller General of Accounts (CGC) to the Minister of Environment and Natural Resources , Roxana Sobenes, which recommends cancelling the process reveals " ...
Social conflict, the political environment and a feeling of insecurity have lead to fewer companies registering while a growing number of established companies disappear.
An article in Prensalibre.com reports that "During the first 20 months of the current administration 8,134 companies have ceased operations, which means that 406 closed per month, and 13 closed per day, according to Companies Registry," while "in the same period, but under the government of Alvaro Colom, the number of companies cancelling registrations was 5,236, about nine a day."
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,...
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