PANAMA
The place to live and invest.
Advantages and current overview
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Panama, a nation located in the heart of Central America, has the largest Free Zone in the American continent, the Free Zone, created on June 17th, 1948, which is located in the province of Colón, which is home to more than 2,000 national and international companies, in addition, the engine of the economy of the Atlantic Coast and generator of thousands of jobs for its inhabitants.
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Our country is ranked number 66 in the competitiveness ranking, out of the 141 countries analyzed, according to the World Economic Forum (WEF), an organization that examines the various problems at a global level, especially those related to the economies of the countries.
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The geographical location of Panama together with the current activities of expansion and continuous development of large infrastructures motivate both nationals and foreigners to look at the country as a great center with distribution potential for the markets of the United States, Canada and Latin America through transshipment as a large consolidation center. Panama's high level of connectivity attracts investors and multinational companies to the country.
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Panama has one of the strongest and most stable economies in Central America. According to the World Bank, Panama ranks as the second fastest growing economy in the Caribbean and Latin America, with projected growth of 3.7%. This constant growth supports the increased confidence of investors interested in forming a company in the country.
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The Government of Panama has created the program named"Permanent Residency Program for economic reasons for qualified investors", whose objective is to attract foreign investment and stimulate the economy.
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The economic benefits offered by the Republic of Panama allow various companies from other countries to establish their headquarters in the isthmus, strengthening their operations and thus providing the opportunity to do business, in addition to generating jobs, which translates into contributions for the business sector and income for the local economy. Currently some 177 multinational companies are in the national territory.
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As a nation of services, its main economic activities are banking, tourism and everything related to the logistics hub, which contribute to providing excellent business opportunities for both nationals and foreigners, considering the stability that the economy provides.
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Legal stability for investors: Panama has a legal framework, protected by Law 54 of July 22nd, 1998, on the subject, which states that foreign investors and the companies in which they participate have the same rights and obligations than national investors and companies, with no other limitations than those established in the Political Constitution and the law, including those related to freedom of trade and industry, export and import.
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Panama, in its fiscal structure, applies the "Principle of Territoriality", which is based on the fact that a natural or legal person, taxpayer, is subject to the payment of taxes in the country as long as said net monetary income has been obtained from a commercial activity carried out within Panamanian territory.
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Panama is a country open to receiving national and foreign investments, the latter known as Foreign Direct Investment (FDI) which have played a very important role in the economic growth and development of the country. In recent years, the attraction of foreign capital in search of business opportunities and good profit margins has become very strong in the isthmus.
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A logistics platform is the combination of infrastructure, technology, processes, regulations and human capital that make the movement, transformation and storage of products possible.
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Great part of this logistics platform in Panama has been developed to support international trade.
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The Panamanian economy will achieve a significant rebound, due to various activities that seek to reactivate the sector, which in 2020 experienced a decrease of 17.9% of GDP caused by the COVID-19 pandemic, according to what is indicated by ruling international organizations in financial matters.
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To achieve this reactivation, works have been launched that will generate a big number of jobs, in addition to a considerable amount of foreign currency, which will enter the National Treasury and allow the sector to be revitalized.
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At present, the construction of the tunnel for Line 3 of the Panama Metro has begun, a work that will cause a positive impact on the economy, as well as facilitate the mobilization of countless residents of the West Panama area to the capital. It is also planned to expand Line 2 of the Metro, in addition to the growth of mining, an item that brings great benefits to the country.
How can we help you?
Please complete the form and one of our lawyers will contact you.
+507 226-5340
Capital Plaza Building, 13th Floor
Paseo del Mar Ave., Costa del Este
Panama, Republic of Panama
Our goal: To provide you with top-level comprehensive solutions, from a single place, SIGNIA.