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Locations for Multinational Companies

Fiscal Benefits

A. Corporate Incentives:

1. Exemption from payment of Income Tax, for services offered outside the national territory* to its Consortium of Companies, that do not generate taxable income within the Republic of Panama. : If the Location for a Multinational Company renders services to its local affiliates, it must withhold the corresponding income tax.

2. Exemption from Tax on Transferences of Movable Corporal Goods and Services Rendered.

B. Incentives for Executives:

1. Exemption from Income tax, when their salaries come from the head office abroad.

2. Exemption from Importation Tariff for household items when the worker transfers to Panama for the first time.

Work-Related Benefits
  • Labor flexibility for trustworthy personnel and senior management executives to carry out their operations in Panama.

 

Migratory Benefits

 

  • Visa for Permanent Personnel of a Location for a Multinational Company: these are granted to workers of management-executive level. They will have the same validity for which the work contract is made, renewable each 5 years. Owners of this visa do not need work permits.
  • Visa for Dependents from Permanent Personnel of a Location for a Multinational Company: for spouses, underage sons or sons under twenty five years of age who are students as well as for parents of the personnel, who remain in Panama under the responsibility of the personnel of the Location for a Multinational Company.
  • Visa of Temporary Personnel of a Location for a Multinational Company: These visas will be granted for a period not larger than 3 months, they are for workers who have to come to Panama for a any activity related to the Location for a Multinational Company. Like the visa for Permanent Personnel of a Location for a Multinational Company this visa does not require a work permit.