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.

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.

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":

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.

New Free Trade Zones Announced in Nicaragua

Monday, January 30, 2017

Vice president Rosario Murillo gave details on 10 new projects to be executed in the next six months for free zones dedicated to different productive activities.

The 10 projects announced are:

Locally Added Value in Free Zones

Monday, October 22, 2012

In Central America, the local contribution to free zone exports was $4.1 billion in 2011, or 26.3% of total exports.

Honduras had the highest local contribution in relative terms, 35.9%, followed by El Salvador with 28.9% , Nicaragua (28%), Costa Rica (26.1%), Guatemala (16.5%) and Panama (7,1%).

Within Latin America, the best positioned, according to an ECLAC report, was Uruguay, with a local contribution that account for 61.2% of total exports under this scheme.

Drop in Costs at Salvadoran Customs Offices

Friday, January 5, 2018

With the modification of the Free Zones Law, it will now be possible to accumulate up to 25 samples which do not have a commercial value in a single declaration.

Jaime Campos, executive director of the Regulatory Improvement Organization, told Elmundo.sv that the reform "... 'will help the investment climate in the country' because the reform introduces the concept of the 'accumulated goods declaration', which will allow imports or exports of up to 25 samples in a single declaration."

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 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.

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: 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.