Inside Panama
Panama is an international service center that substantially benefits persons and companies wishing to use Panama based corporations for holding purposes or for directing business activities in different parts of the world. Among the many advantages Panama offers are:
- A geographic location and infrastructures which permit it to offer the best services of airfreight and maritime transport, both for passengers and cargo.
- The Panama Canal with major ports located on the entrances in both oceans.
- Further to, an excellent telecommunication system, with state-of-the-art technology.
- The Colon Free Zone, located at the Atlatic coast of the country, is the biggest one within the western hemisphere, which offers unique opportunities for tax free storage, repackaging and re-exporting of every kind of merchandise.
- The Special Economic Zone, located in Howard, at the Panama Canal Pacific entrance, offers the opportunity of establishing to develop, among others, assembling activities and rendering several services abroad.
- A unique banking system, highly regulated, which gathers more than 87 institutions, included some of the most important and renowned banks operating internationally.
- There is no change control because the economy is based in the US Dollar. No registries with the authorities or permits for transactions involving receipt or transfer of funds, are required.
- The Panamanian corporations are exempt from payment of taxes over capital (shares of stock, bonds and other investments).
- Low cost of living.
- Stability and governmental infrastructure.
- Tropical climate and natural paradise with the most beautiful beaches in both oceans and great rainforest with an immeasurable biodiversity.
Panama Income Tax Law specifically exempts from its provisions the following activities and sources of income:
| a. |
To manage operations from an office in Panama, provided these are completed, executed and take effect abroad. |
| b. |
To invoice from an office established in Panama, the sale
of merchandise or goods for an amount greater than that
in which said goods or merchandise have been invoiced to the
office in Panama, provided same be exclusively handled abroad. |
| c. |
Incomes from International Maritime Commerce originating from
ships registered under Panamanian flag. |
| d. |
Corporate dividends or participations when said dividends
or participations come from incomes not produced within the
territory of the Republic of Panama, including incomes resulting
from the activities as mentioned in points A and B. |
| e. |
Interests earned from funds maintained in
time deposits or savings accounts. |
Panama photos courtesy of Andres de la Guardia Oteiza.
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Related Documents for Download:
- The Panama Relocation Guide
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For further information:
Please contact our marketing department for additional information: marketing@icazalaw.com
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