What are the tax and customs incentives offered in Panamá Pacífico?
In Panamá Pacífico our priority is to look for ways to support the growth of the companies that join our project, facilitating their processes so that their time is more productive and they can focus clearly on their operation. For this reason we have worked hand in hand with the government of Panama to develop a Special Economic Area for local, regional and multinational companies. Everything becomes tangible through our Law 41 of 2004, which provides various tax, labor, immigration, customs and legal incentives, which make the processes expeditious and efficient.
We know that there are governmental processes that require valuable time, effort and expense of administrative personnel. That is why in Panamá Pacífico we expedite the procedures in situ through our One-Stop Shop and save your company time and money. Learn all about it!
Law 41 of 2004 offers tax benefits to companies that register in the area, including indirect tax exemptions (importation of goods, transfer of movable property and provision of services, taxes or fees regarding the movement or storage of fuel / hydrocarbons and its derivatives, stamps, real estate taxes on land and commercial improvements, transfer of real estate, export / re-export of goods, withholdings or charges to foreign creditors for financing or leasing of equipment) and direct tax payments in some cases (income, dividend, complementary, remittances or transfers abroad, are paid by all companies, except those established by Law 41 of 2004 as specially incentive activities).
The activities specially encouraged by Law 41 are the following:
Headquarters and services
- Multinational headquarters (per law regulating same)
- Office administration (Back Office)
- Call Center
- Gathering, processing, storage, switching, commutation of data and digital information
- Connection of radio, television, audio, video and / or data signals
- Research and development of resources and digital applications for use of internet and intranet networks.
Logistics and distribution
- Multimodal distribution and logistics services
- Logistics import / re-export
Maritime and aviation sector
- Transfer of goods and services to outbound ships and aircrafts
- Maintenance, repair and overhaul activities
High tech manufacturing
- Processing, manufacturing and assembly of products, components and parts
- High tech products or high tech processes
Thanks to Law 41 of 2004, new foreign investments can be expanded and initiated directly to Panama, through our exclusive incentives for companies that operate and register in Panamá Pacífico.
Our One-Stop-Shop offers a customs regime primarily aimed at logistics industries that are dedicated to the import and re-export of products. It also benefits maritime and aviation services companies, which transfer goods and services.
The movement of monitored cargo, the payment of tax on goods manufactured in the area based on the tariff of each foreign component incorporated, the possibility of transferring raw materials and semi-finished products free of taxes and being able to have nationalized and non-nationalized merchandise in the same warehouses are part of the customs benefits that make Panama Pacifico a perfect ecosystem for a logistics cluster.
Work incentives and immigration benefits
We also offer in our One-Stop-Shop expedited management of visas for foreign employees that can be extended to immediate relatives, special visas for investors and workers, work permits for foreign employees, one-time import and tax-free articles for personal or domestic use up to 100K .
We also offer you the flexibility to establish a weekly rest day, overtime pay of 25%, as well as pay nights and mixed per hour worked.
Municipal Regime and Legal Stability
We guarantee that all these incentives will not be affected by legal changes for the next 10 years following your registration as a company in the area. As well as tax exemption for business activities of manufacturing, import, export, logistics and telecommunications.
For this and more, in Panama Pacífico you will have a great opportunity for your company to reach new horizons. Are you interested in being part of our project? Fill out the form below and we will contact you!