Free Zone Law Moves Forward in Costa Rica

Wednesday, September 9, 2009

The Economy Commission approved the project, which now moves on to the legislative plenary.

Companies located in the Greater Metropolitan Area (GAM) will have to pay 6% income tax for the first 8 years and 15% for the following 4.

"Representatives included a transitory article, under which the state will have 4 years to foster the installation of industrial parks or modernizing the existing ones in Limón, Puntarenas, the south zone, Liberia and the north of the country", reports Nacion.com.

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.

Panama: A Unique Free Zone Law

Thursday, October 22, 2015

The private sector is calling for a unique legislation that guarantees equal access to free zone regimes both for domestic and foreign companies.

From a statement issued by the Panamanian Association of Business Executives (APEDA):

The Panamanian Association of Business Executives (APEDE), along with several sectors of the country is concerned about the economic crisis affecting enterprises and workers in the Colon Free Zone, for which reason it is states that it is of the utmost importance to have a dialogue between all parties as this would allow progress to be made to moving towards a single framework law on free zones in our country.

Costa Rica: Investment Encouraged East of San Jose

Thursday, November 3, 2011

An economic coalition has been set up to promote investment and create jobs in the country's old capital of Cartago.

The over-supply of office space in the west of the Costa Rican capital has led to increased growth in the east where it is becoming more and more common to see new real estate developments such as offices and malls.

This backdrop has led the region's main university, in partnership with the chamber of commerce and the administrative board of the regional electricity supplier (Jasec in Spanish), to create the Cartago Special Economic Zone. They hope this will encourage investment.

Panama: Operations in the Colon Free Zone (ZLC) grew 12.1%

Friday, October 10, 2008

Import and re-export activity in the Zone reached $13.92 million.

Imports totaled $6.44 billion, an increase of 15.9%, while re-exports totaled $6.65 million for an increase of 8.5% in the same period, according to information provided by the manager of that entity, Nilda Quijano, during presentation of the budget in the Budget Commission of the Assembly.

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":

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.

Panama: 11.6% Decrease in Free Trade Zone Activity

Monday, April 6, 2009

Companies located in the Colón Free Zone (ZLC) have reported a decrease of 11.6% during the first three months of the year.

The above is in comparison to the same period last year, according to the manager of the ZLC, Nilda Quijano.

Costa Rica Defines Which Sectors Will Benefit from Free Zone Bill

Tuesday, November 16, 2010

Authorities published which sectors will benefit from the regulation passed on January 2010.

These include companies employing at least 200 people, those who devote at least 0, 5% of its sales on research and development in local operation, those certified ISO 14000, LEED or equivalent at its plant in Costa Rica or connected with cutting-edge industries in various fields.

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.

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.

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: