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Panama is a strategic location to expand your business, mainly because of its geographical situation. Your company will have connection with almost every single continent, by either air, sea or land. But first, look within the region! What are your best chances of expansion in Latin America? Where are the biggest, most ambitious opportunities? Keep reading and find out!
This country’s economic growth is steady year after year. It is a major player in the agricultural sector and the second-largest manufacturing powerhouse in South America. Although it has the sixth highest corporation tax rate in the world (35%), the company formation in Argentina is a simple process that offers great opportunities to many sectors that await businesses.
Brazil is a popular destination for foreign investors looking to tap into the region. It is rich in mineral wealth and has a predominantly young and aspirational population, offering an abundance of labour and high demand for products and services.
The Central American country got the best scores in the “getting credit” category, thanks to its governmental reforms. And, with a population of almost 130 million and a growing middle class, it is one of the favorites to attract foreign investors. It sure is a place where businesses looking to incorporate in the country should do so sooner rather than later.
The country is ranked 56 among 190 economies on the Ease of Doing Business Report 2019, thanks to its reforms to improve its business climate and encourage the introduction of a new electronic system for new businesses, as well as contract enforcements. Also, its infrastructure and energy investments help provide a strong and stable business environment.
Out of all the countries in Latin America, this one showed the greatest improvement in creating an optimal environment for business. For example, the number of payments required to make a tax return was recently reduced from 70 to 11. It is also known for ease of obtaining credit, protecting minority investments, and resolving insolvency.
One of the countries that showed the most improvement in implementing friendly reforms for business is Costa Rica. It now protects minor investors, has ease of getting credit and electricity, has low taxation and significant free trade agreements. That, complemented with the growth of a bilingual workforce, makes it a great time for foreign investors to look at Costa Rica.