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Tax Incentives

City of Knowledge: It has a very important project known as “The International Techno-park of Panama” (TIP is its acronym in Spanish). The TIP, as it is commonly known, is a business park oriented toward an innovative culture and the development of technology, as well as toward more daring projects that cause and materialize the flow and transparency of knowledge and technology among universities, research institutions, companies and markets. It is important to mention that affiliation is for free. It is an admission process that takes into account criteria to safeguard the innovative character of applicants and coherence with the values and the mission that were the cause of the origin of the City of Knowledge and the Techno-park. For further information you can access http://www.ciudaddelsaber.org

Panama – Pacific: It was created by means of Fiscal Law 41 in 2004, as a special economic zone (or “free zone”). Special benefits are offered to all companies that transfer to that area, including legal, customs, immigration and work-related benefits, as well as special fiscal incentives. For some business activities, this means freedom from taxes to the Treasury in Panama. Any type of business that is legal in Panama may locate in Panama Pacific. For further information you can accesshttp://www.panamapacifico.com

Processing Zones: This special regime was established through Law No. 25 of 1992: It comprises Duty-free Zones of Free Entrepreneurship, specifically delimited, within which there is a development of all infrastructure, installations, buildings, systems and support services, as well as of the operative organization and management that are to be established within such area. This type of zones also promotes investment and is conducive to scientific, technological, economic, cultural, educative and social development for our country. For further information you can access http://www.sice.oas.org/investment/NatLeg/PAN/L_ZProcs_s.pdf

Locations for Multinational Companies: It was created through Law No.41 of 2007. Such law was designed for all multinational companies that operate from Panama offering specific services to their Head Office or to their subsidiaries or to their affiliate or associated companies, or to companies that locate their Head Office in Panama, hereinafter denominated Consortium of Companies. These locations will always belong to multinational companies with international or regional or important operations in their country of origin.