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The Panama Pacifico Special Economic Area

The Panama Pacifico Special Economic Area is an area assigned for the production of goods and services with high added value and technology. It is located in the former Howard Airforce base. Panama Pacifico operates its relations with the Panamanian State by means of Law 41 of 2004.

Encouraged Activities:


  • Main Corporate Offices
  • Back Office operations
  • Call Centers
  • Multimode and logistics services
  • High technology products and manufacturing processes
  • Aircraft maintenance, repair and reconditioning
  • Transfer services to the aviation industry
  • Offshore services
  • Movie-making industry
  • Transmission of data, radio, television, audio and video
  • Transfer of inventories between companies established in the area
  • Transfer of goods and services to ships, airplanes and their passengers
  • Sale of merchandise destined for export not manufactured in Panamá Pacífico, when manufactured by multinationals or any other of its affiliates, subsidiaries or companies of the same economic group.

Fiscal Incentives:


  • Exemption of any tax, levy, rate, encumbrance or import duties on any merchandise, product, equipment, service or other goods in general that are introduced into Panamá Pacífico.
  • Exemption of Real Estate transfer Taxes and Services Taxes (ITBMS).
  • Exemption from any tax, duty, rate, levy or fee with regard to the movement or storage of fuel or other hydrocarbon and its byproducts.
  • Exemption on any commercial or industrial license or registration tax.
  • Exemption from the Stamp Tax.
  • Exemption on the Real Estate Tax on lands and commercial/industrial improvements, as well as Real Estate Transfer Tax.
  • Exemption of the export/re-export tax of any merchandise, product, equipment, goods or services.
  • Exemption of any tax, rate, duty, encumbrance, withholding or other charges applied to foreign creditor payments including, interests, commissions, royalties and other financial charges generated by the financing or re-financing granted to companies of Panama Pacifico and for the financial lease of the equipment necessary for the development of the activities, businesses and operations that take place within Panamá Pacífico.

Labor Incentives:


  • Fixed rates for overtime (25%) and holidays (50%).
  • Flexibility in assigning employees holidays.
  • The companies can be open on Sundays and holidays.
  • Foreign laborers: possibility of exceeding the percentage rule of the Labor Code. The companies can request additional expat employees in excess of 15% if local labor is unavailable.
  • Training Center for College level education.
  • Justified cause for dismissal due to losses and/or market fluctuations.

Migratory Incentives:


  • The one-stop-shop handles all the procedures related to visas and work permits for their employees.
  • Special visas are available for investors and laborers (Aprox. 3 to 5 years).
  • Visa benefits are extended to immediate relatives: spouse, dependent children up to 25 years of age and dependant parents over 62 years of age.
  • One time tax-free import of any personal and domestic belongings (up to US $ 100,000).

Important:

Panama Pacifico`s One-Stop-Shop help`s expedite the establishment of companies. This process coordinates over 15 government entities in one location. Services include visas and labor benefits which save companies time and money.


www.aaeepp.gob.pa
www.panamapacifico.com

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