Asamblea Nacional de Panamá Local Law tax exemption free zone Government Subsidies Zona Libre de Howard free trade zone Infrastructure and Construction Panama Pacifico Real Estate Taxes The Panama-Pacifico Special Economic Area Agency construction incentives

Howard Zone Maintains Tariff Exemptions

The National Assembly of Panama approved the extension of tariff exemptions to companies based in the Howard Free Trade Zone.

Tuesday, June 9, 2009

©image: Panamá Pacífico

The bill, which was approved in the second debate, ensures that companies that are based in the Panama Pacific Special Economic Area, also known as the Howard Free Zone, will equally have access to the benefits.

According to Pa-digital.com.pa, "The subsidy that the state of Panama grants this area is maintained for five more years."

Source: pa-digital.com.pa

Key entities

Zona Libre de Howard Asamblea Nacional de Panamá Panama Pacifico

Countries

Panama

Insight

free zone free trade zone Subsidies tax exemption Local Law

Panamá Pacífico Development Underway

August 2009

$65 million have already been invested in the former Howard Air Base.

Henry Kardonski is the CEO of London & Regional Panamá, developer of the project. He assured that by the end of 2009, over $100 million will be invested, 15% of the targeted $705 million.

Work on the industrial business park is expected to be finished this month, with 10.000 m2 of office space and 21.000 m2 of warehouses.

Panama Pacific Project begins construction

November 2008

Construction of the first phase of the $70 million Howard, Panama-Pacific Project starts tomorrow.

London & Regional Panama, master developer of the Panama-Pacific Special Economic Area, will hold the official innaguration for construction start up.

The ceremony will be held on Thursday, November 13, 2008 at the former Howard Base.

Free Trade Zones in Costa Rica: 5% Tax

April 2009

With the reform to the Law on Free Zones, the country is adapting its legislation to WTO rules.

On Tuesday, the Executive Branch presented draft amendments of the Law on the Free Trade Zone Regimen (7210), which amends five items in the current law, to the Legislative Assembly.

Tax Exemptions for Nautical Tourism

February 2012

The proposed new Panama Tourism Act includes incentives for the construction of maritime infrastructure and activities related to nautical tourism.

"If the new tourism legislation is approved, companies making a minimum investment of $10 million in construction, equipment and cruise port administration will be entitled to a total exemption for five years on import duties for input materials for the construction of marine infrastructure," reports Prensa.com.

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The Exciting Development in the hub of the Americas in Panama

Panama Pacifico is in the first phase of construction of a four phase project spanning the coming years. The destination's internationally relevant location, adjacent to the Panama Canal and the Pacific Ocean, makes this business center in Panama an ideal global business hub. Its lush setting provides the perfect backdrop for the new thriving, newly-built, master-planned community.

International Business Park

Looking for parking space?

Our new business office in the International Business Park of Panama Pacifico is under construction, and includes a new five storey parking facility. Life is easier when you have a plan. Offices designed, built and created under international standards.

Fiscal, Labor and Migratory Benefits:

See the lengthly list of benefits enjoyed at Panama Pacifico.

Special Economic Area

Law 41 was created in 2004 to offer exceptional benefits to companies setting up base in the Special Economic Area. A single government office in the area speeds up the process to set up a company in the area.