Septiembre 5 de 2023

The Panamá Pacífico Special Economic Area (referred to as "APP") was established through Law 41 on June 20, 2004, as part of an effort to enhance Panama's global competitiveness. The APP operates as a tax-free zone with a distinctive customs framework, granting companies operating within it significant tax exemptions related to their activities, businesses, services, operations, and transactions. This results in companies being relieved of the majority of direct and indirect taxes, contributions, fees, duties, and national levies, although there are some exceptions.

Benefits of incorporating a company in Panama Pacifico:

  1. Tax Benefits:

    • Exemption from taxes, contributions, levies, or import duties on various types of goods, products, equipment, services, and other items commonly brought into the area.
    • No VAT tax on a wide range of goods, products, equipment, and services.
    • VAT exemption for services provided by companies within the area to individuals within or outside of Panama.
    • Companies in the area enjoy various benefits.
  2. Fuel and Hydrocarbon Advantages:

    • Companies are exempt from taxes, duties, fees, contributions, or charges related to the storage or movement of fuels, hydrocarbons, and their derivatives.
  3. Stamp Tax Exemption:

    • No stamp tax is applicable to transactions within the area.
  4. Property Tax and Real Estate Benefits:

    • Exemption from Property Tax on commercial and industrial improvements, as well as on land and its enhancements.
    • Real Estate Transfer Tax is also exempted.
  5. Export and Re-export Advantages:

    • Companies are not subject to any export or re-export taxes on goods, products, equipment, or services.
  6. Foreign Creditor Benefits:

    • Exemption from various taxes, fees, duties, liens, withholdings, or similar charges on payments to foreign creditors for interest, commissions, royalties, and financial expenses related to financing or leasing equipment for area-related activities.
  7. Labor and Migration Incentives:

    • Special migratory visas are available for investors and workers of different nationalities, with the possibility of extending these visas to immediate family members.
    • A dedicated central office manages immigration and labor processes related to these special visas.
  8. Legal Stability:

    • Registering a company in the APP provides legal stability, ensuring that the company's acquired rights remain unaffected by future legal changes for the next decade.

By capitalizing on these various advantages, businesses have the opportunity to thrive within the Panamá Pacífico Special Economic Area, benefiting from tax exemptions, labor incentives, legal stability, and more.

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