Multinationals in Panama
Law Number 41 of August 2007The Law helps to provides incentives for international companies to establish their regional headquarters or offices in Panama. The primary benefits received are a total exoneration of income taxes, the possibility of negotiating a fiscal scheme for tributary planning, the exoneration of taxes for services provided to other companies abroad, as well as labor and immigration benefits. The law is known as the "Special Regimen for the Establishment and Operation of Headquarters of Multinational Companies (SEM)." It offers incentives to multinational and transnational companies who offer services or realize business activities for the mother company to other businesses from a base of operations in Panama.
It is important to point out that all multinational companies with international or regional operations that establish themselves in Panama in order to offer services to the business group to which they belong, as well as the primary headquarters, subsidiaries, affiliates, or those associated, can all apply under the law.
Requirements - The granting of licenses falls to the Commission for Licenses of Multinational Headquarters, and it is necessary to present the assets, facilities, identify locations where business operations will take place, activities realized, and the quote of shares in the stock market.
According to the SEM, the license is granted for an indefinite period of time and those applying are granted a "unique registration number" (which is valid) as long as the companies do not incur some kind of infraction established in the regulation of the law.
Other Benefits - Law No.41 specifically created visas for the foreign workers of these companies, among them permanent personnel, who will not stay longer for five years, and for temporary personnel, who can stay for three months.
YOU CORPORATION CAN TAKE ADVANTAGE OF THIS NEW LAW IN PANAMA.
FOR MORE INFORMATION CONTACT US AT:
legalconsultants507@gmail.com
