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.
- Main Corporate Offices
- Back Office operations
- Call Centers
- Multimode and logistics
- High technology products and manufacturing processes
- Aircraft maintenance, repair
- Transfer services to the aviation industry
- Offshore services
- Movie-making industry
- Transmission of data, radio, television, audio
- 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
- 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
- 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
- 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.
- 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).
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.