Costa Rica: Modifications to Free Port Law Project

Thursday, August 13, 2009

Suppliers selling at least 40% of their production to free port companies will enjoy the benefits of the tax regime.

Previously, the benefits were granted to suppliers with "a significant portion", without establishing percentages, a far too wide concept.

"Free port companies currently don't pay any income taxes. Under the law project, companies investing in localities with less relative development will pay 5% for the first 12 years, and 15% the following 6 years", reported website ElFinancierocr.com. "For investments in areas of higher relative development, income tax would be 5% for the first 8 years and 15% for the following 4".

Conference Zones in Panama

Monday, October 27, 2014

From 12 to 14 November representatives from free zones in Latin America will be gathering together in Panama City to discuss issues such as changes in legislation and the role of free zones in the logistics chain.

Analysis of the Panamanian Law on Free Zones

Monday, September 12, 2011

The goal of the new law is to provide optimal conditions for generating maximum efficiency and competitiveness.

In April this year a new law was approved governing the operation of free zones in the country, where many foreign companies have decided to settle because of the benefits the scheme provides.

The new law aims to establish a framework within which these workspaces will operate, ranging from the kind of activities that can be developed there, the systems that can be installed to the legal conditions that must be met.

Update on Free Zones in Costa Rica

Thursday, August 18, 2016

In 2015 331 active companies were registered, of which 52% are devoted to services, 45% to manufacturing and the remaining 2% to the food industry.

From the executive summary of the study by PROCOMER "Balance of Free Zones: Net profit regime for Costa Rica 2011-2015":

Nicaragua: 8.25% Increase in Wages in Free Zones

Thursday, June 8, 2017

From January 2018 until 2022, there will be an annual increase of 8.25% in the wages of workers in free zone companies.

The agreement will be valid for five years and will come into effect from January 1, 2018. 

Laprensa.com.ni reports that "...Currently the minimum wage in force in a free zone is US $180, and when the adjustment is applied next year it will go up to approximately US $195".

Reform of Rules for Free Zones

Monday, November 20, 2017

In Costa Rica an amendment to the regulations of the Free Trade Zone Law is under public consultation until November 25.

From a statement issued by PROCOMER:

Trade Increase at Colon Free Zone

Monday, January 24, 2011

In November 2010 the CFZ increased its sales by $ 1.84 million compared to 2009.

The statistics by the Comptroller General showed sales until November 2010 of $ 19.9 million, compared to the $ 18.09 million of the same period last year.

"The report shows an annual percentage change of 10.2% and 47.2% monthly, which indicates that November was the fastest growing month”, reports Panama America.

Costa Rica: Deadline for Golfito Tender Extended

Tuesday, March 22, 2011

The tender originally scheduled for March 10 was rescheduled for April 28.

Four objections were filed in February before the Comptroller General of the Republic, which said he partially accepted three of the four claims. This prompted the postponement of the deadline.

Statistics on Free Zone Regime in Costa Rica

Thursday, July 30, 2015

A study by PROCOMER indicates that for every dollar exonerated in the period between 2010 and 2014, companies in the free zone regime generated $5.7 on average for the country.

From the executive summary of the study by PROCOMER entitled "Free Zone Balance 2010-2014":

20 new companies in Costa Rica free zones in 2009

Tuesday, December 23, 2008

The Foreign Trade Promoter indicated that there are at least 20 companies in process to operate in the country in 2009.

The entity reported that in 2008 25 new companies were established in the free zones, at a total investment of $32 million.

Free Zone regime improves in Costa Rica

Wednesday, September 3, 2008

Regulatory reforms seek to eliminate paperwork and facilitate partnership with local companies.

One of the most important changes in the new decree will allow companies that are under the incentives system to outsource 50% of their operations in the country and not just 25% was the norm until now.
Additional, contracts for these processes or services can now be signed for more than a year, which is the maximum period permitted under the current legislation.

Colon Free Zone Grows by 42%

Friday, October 7, 2011

Commercial activity in Panama's free zones was 42% higher in the first 7 months of this year than in the same period in 2010.

According to the Controller General's Office transactions totaled $15,870,000 in July 2011, compared to $11,173,000 in the same period in 2010.

Free zones in El Salvador, Engine of Growth

Tuesday, May 31, 2011

Under the free zone system around 240 000 Salvadorans are employed directly and indirectly.

Free zones in the country have become one of the main drivers of economic dynamism in the country.

Not only do they generate employment but the productive links that connect other sectors of the economy create a dynamism that is reflected throughout the economy as a whole.

Free Zones Law Reform in El Salvador

Friday, February 22, 2013

Companies starting operations in free zones outside the metropolitan area will be fully exempt from income tax for 15 years.

From a press release issued by the Legislative Assembly of El Salvador:

Expectations in the Colon Free Zone

Monday, June 18, 2012

The Zone’s directors expect more freight movement, further processing of products and employment generation.

Economic growth in the Colon Free Zone is unquestionable. The volume of exports and imports in 2011 reached $29.126 billion, growing by 56% over the past three years.