Since 2010, the Global Law Experts annual awards have been celebrating excellence, innovation and performance across the legal communities from around the world.
posted 13 years ago
Always looking for new opportunities of businesses, the Republic of
Panama has developed a law which pursues to enhance the exploitation of
its economic and commercial potential. To this end, it created a tax,
customs, labor, immigration and of special businesses system for the
establishment and operation of a Special Panama-Pacific Economic Area,
by means of Law No. 41 (insert access to the law), which creates an
autonomous entity of the State, named Agency for the Special Panama
Pacific Economic Area, addressed to spur and ensure the free flow and
movements of assets, services and capital to attract and promote
investments.
Located in the former Howard Air Base, that was return to
the Republic of Panama by the Government of the United States, by
virtue of the execution of treaties on the Panama Canal. Very close to
Rodman and Balboa ports at the entrance of the Panama Canal, is only 15
minutes from the center of the city of Panama. Due to the connectivity,
the area is very attractive for any kind of economic activities,
including but not limited, to activities related to computer science and
telecommunications and technology, offshore services, maintenance,
repair and conditioning of airplanes, logistic activities, assembling,
development of real estates, tourism, among others.
Benefits and Incentives
Among the benefits and tax incentives of establishing any type of company in this region, are the following:
The following activities shall be exempted from taxes that encumber profits:
Labor and Immigration Treatment
The Labor Code applies, with some exceptions to the
provisions in this matter. The transaction for Resident Permit in the
capacity of Investor in the Panama-Pacific Area is the following:
The companies in the Panama-Pacific Area, the Developer
and the Operator may introduce in the Panama-Pacific Area all type of
merchandises, products, equipments and other assets in general, as well
as to transfer and sell them to other Companies of the Panama-Pacific
Area, to the Developer and Operator, without quantity limitations,
exempt, at all times, from the payment of taxes, contributions, rates,
liens, import fees and other tax contributions, national or provincial
or of any other order, including consular fees or of any other
denomination, except those provided by the Law.
posted 2 hours ago
posted 2 hours ago
posted 3 hours ago
posted 19 hours ago
posted 3 days ago
posted 3 days ago
posted 5 days ago
No results available
ResetFind the right Legal Expert for your business
Global Law Experts is dedicated to providing exceptional legal services to clients around the world. With a vast network of highly skilled and experienced lawyers, we are committed to delivering innovative and tailored solutions to meet the diverse needs of our clients in various jurisdictions.