Panama Pacifico’s Special Economic Area
Panama Pacifico is an allocated special economic area or what is known as a ‘free zone.’ This implies that businesses within this area benefit from various incentives applied by the promulgated Tax Law 41, the benefits of which are:
VAT exemption for specific business endeavors;
Stamp Tax exemption;
Real Estate Property Tax Exemption;
Licensing Tax Exemption;
Dividend Tax exemption for certain business;
Income Tax exemption for certain activities.
These are just a few of the highlighted exemptions, which are contained in Tax Law 41. There are additional legal and related benefits of this expansive Panama Pacifico Project. The immigration benefits here include easy application and issuance of the following visas;
Family Visas, which extend to financially dependent parents and your spouse;
5 year investor visas, with a $250,000 investment;
5 year ordinary work visas;
3 to 5 year special visas;
Tax free importation of personal effects up to $100,000.
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