Panama at a glance:

• An independent Republic since 1903.
• Democratic government and a stable and robust economy.
• Excellent geographical position.
• Natural vocation to world commerce with the motto “Pro Mundi Beneficio”.
• Telecommunications Hub.
• Transshipment of container cargo.
• Largest Free Trade Zone of the Western Hemisphere.
• World Trade Organization member since 1997.
• US Dollar as regular currency.
• Known as “The World’s International Cross Roads” and “The Hong Kong of the Americas”.
• One of the safest countries in the world.
  

The Panama Canal –
The famous pathway between the seas has been efficiently run by a fully Panamanian administration since 31st December 1999. This worldwide checkpoint sees an annual transit of approximately:
a. 192.2 millions tons of cargo,
b. 13,000 vessels, and
c. 700,000 passengers and crew.

Current studies are under way to widen the canal to Post Panamax size. The cost of the project will be approximately US$ 20,000 million.

Container Transshipment Ports –
State of the art port terminals privately managed by companies such as Evergreen, Stevedores of America and Hutchinson Wampoa are located both on the Pacific and Atlantic sides, very close to the entrance of the Canal and the Colon Free Zone.

Banking Centre –
Panama offers the most modern banking center in Latin America, with over eighty national and international banks currently operating in the country. Among its attractive features are the absence of an exchange control office and the free transfer of capital.

For several years Panama has been evaluated as compliant with the FATF and the OECD regulations, and has implemented a strict anti-money laundering legislation.

The Colon Free Trade Zone –
In a segregated area of 400 hectares, the Colon Free Zone is located at the entrance to the Panama Canal on the Caribbean side, Province of Colon. It is considered the second largest free zone in the world and the first in the Western Hemisphere.

Aviation Hub for the Americas –
Panama is the fastest way to connect with the Americas on time, taking advantage of favorable factors such as the country’s excellent geographic position and a climate that allows the airport to remain open 24 hours a day, all year round.

Tocumen International Airport offer immediate connections without going through immigration and customs and one of the most complete duty-free zones in the area.

Call Centre Community –
Panama has become an attractive location for call centers of international companies like Dell as licensed operators are entitled to special benefits such as exemption of taxes on imports of all machinery, equipment, furniture, vehicles, appliances, and materials for the project; exemptions on income tax; special immigration and labor regime; and the availability of bilingual personnel that makes it unnecessary to relocate a large staff for the operation.

Insurance, Reinsurance and Captives –
Panama has the highest per capita insurance rate in the region, and it is the only Spanish-speaking country where a Captive can be established.

City of Knowledge –
Panama is home to The City of Knowledge, an international center for education, research and innovation, created to promote and facilitate synergies between universities, scientific research centers, businesses focused on the new economy, and international organizations.

International Technopark –
The International Technopark of Panama is aimed at businesses that either develop or render services for high tech products destined for sale in the local or international market, and offers incentives such as absolute exemption of taxes on operations, transactions, procedures, transfer of personal property or assets, purchase and importation of equipment or construction material, machinery, tools, accessories, and consumables, as well as exonerations from income tax.

Export Processing Zones –
Through the initiative of private sector companies, tax free zones with special benefits can be created for the establishment of companies that will re-manufacture, assemble or transform semi-elaborated products into final products for exportation.

Logistics Centre for Transportation –
In the middle of the year 2000, the Government of the Republic of Panama undertook the development of a Logistics Center of transportation, services and industry in the area of Coco Solito, the Colon Free Zone and Telfers Island, adjacent to the commercial area.

The project will enable new, world class companies to operate in this free zone with greater access to Latin American consumers and will help thrust the Free Zone into the world- market thanks to Panama’s privileged geographic position when compared to other free zones, free ports, special services zones or traffic zones. The lands available for investment are next to the airport, railway and port facilities, optimizing delivery time for any cargo shipment.

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