• Español
  • English
info@alcabco.com

(507) 340-6917 / 340-6918


Panama Pacific

Fiscal Benefits

  • 1. Exemption from taxes on importation (unless the merchandise is to be sold within Panama)
  • 2. Exemption from income tax for specific business activities.
  • 3. Exemption from taxes on sales for specific business activities.
  • 4. Exemption from taxes on dividends for specific business activities.
  • 5. Exemption from tax retention on profits from interests for companies within the area, and on payments made to foreign creditors
  • 6. Exemption from license taxes
  • 7. Exemption from real estate taxes
  • 8. Stability on local taxes guaranteed for 10 years from the date of registration
  • 9. Exemption from retention of taxes over royalties paid to foreigners for specific business activities.
  • 10. Exemption from taxes on capital earnings over transference of shares of the company
  • 11. Exemption from stamp taxes.
  • 12. Exemption from compensation funds of special interests (FECI – acronym in Spanish), if the loan is to finance operations abroad.

 

Work-Related Benefits

 

  • 1. 25 per cent of fixed charge on overtime
  • 2. Negotiable day of weekly rest
  • 3. Companies may remain open on Sundays and holydays
  • 4. Vacations may be negotiated with employees.
  • 5. Fluctuations in market conditions or demand are legal causes for termination of job contracts
  • 6. Work permits for 15 per cent of the work force from abroad, except for additional contracts for training Panamanians.

 

 

Migratory Benefits

 

  • 1. Regular work visas for 5 years
  • 2. Special visas for 3 to 5 years
  • 3. Investment visas for 5 years, with an investment of $250 thousand dollars.
  • 4. Family visas for the spouse, dependents and parents who are financially dependants.
  • 5. Tax free importing up to $100 thousand dollars in personal items.