{"id":27373,"date":"2019-09-23T11:13:01","date_gmt":"2019-09-23T15:13:01","guid":{"rendered":"https:\/\/www.escapeartist.com\/?p=27373"},"modified":"2021-01-19T09:47:32","modified_gmt":"2021-01-19T14:47:32","slug":"panama-pacifico-and-colon-free-trade-zone","status":"publish","type":"post","link":"https:\/\/www.escapeartist.com\/blog\/panama-pacifico-and-colon-free-trade-zone\/","title":{"rendered":"Panama Pacifico And Colon Free Trade Zone"},"content":{"rendered":"

In today\u2019s ultra-competitive global economy, businesses are searching for new and innovative ways of gaining a strong competitive edge to ensure higher levels of success. One way of doing so is by starting operations in a special economic or trade free zone<\/a> that offers several benefits including tax exemptions and lower setup costs.\u00a0Enter the Panama Pacifico and the Colon Free Trade Zone.\u00a0<\/strong><\/p>\n

Located in Panama, these important projects represent a crucial international trade hub that attracts logistic services, multinational companies, and commerce and industry.\u00a0<\/span><\/p>\n

According to <\/span>PR Newswire<\/span><\/a>, Panama Pacifico was recognized as the Best Free Trade Zone in the Americas by the Financial Times.<\/span><\/p>\n

The continuous development of talent, sizable residential dwellings, and strong infrastructure sets Panama Pacifico <\/a>apart from other trade zones around the world. In this article, we\u2019ll give a brief introduction to the Panama Pacifico and Colon Free Trade Zone.<\/span><\/p>\n

 <\/p>\n

Panama Pacifico<\/b><\/h2>\n

A special economic area in the Americas, Panama Pacifico<\/a> is the leading business and trade hub for multinational businesses seeking to strategically position themselves in the region. The brainchild of a Britain-based company London & Regional Properties, Panama Pacifico is one of the biggest mixed-use developments with 3,450 acres worth of land assets.\u00a0<\/span><\/p>\n

Located at a 15-minute drive from Panama City, it is a high-value manufacturing center that offers world-class services. Businesses that set up operations in this area gain access to numerous advantages along with unique incentives.\u00a0<\/span><\/p>\n

To date, more than 200 companies including Fortune Global 2000 and Fortune 500 have found considerable success. The big names include 3M, Atlas Copco, Cable & Wireless, Norton Lilly, Agrekko, Cummins, Caterpillar, Dell, and VF Corp.<\/span><\/p>\n

The World Bank<\/span>\u2019s <\/span>\u201cDoing Business\u201d<\/span><\/i> Report listed Panama as the best country in its <\/span>\u201cTrading Across the Border\u201d<\/span><\/i> category. This success stems from an ever-expanding residential community, access to quality human resources, and its proximity to the country\u2019s financial center.\u00a0<\/span><\/p>\n

 <\/p>\n

Financial Benefits\u00a0<\/b><\/h3>\n

Among the benefits that are only available in the Panama Pacifico area are tax exemptions from all indirect and direct taxes. Minimal setup and operational costs via an umbrella agency bring together all the relevant government agencies aimed at supporting companies operating within its borders.\u00a0<\/span><\/p>\n

Additionally, the Panamanian government has enforced strict privacy laws that make it an ideal base of operations for wealth management companies. As such, investors looking to store their gold, silver, or other valuables can get in touch with one of the many <\/span>reliable wealth management firms<\/span><\/a> with storage facilities within the country.<\/span><\/p>\n

Panama Pacifico also offers special legal, fiscal, and labor regimes that open the door to several key opportunities. This creates the ideal business conditions conducive to the smooth flow of global operations within a secure environment.\u00a0<\/span><\/p>\n

Following is a list of business activities that are granted exemptions from both indirect and direct taxes:<\/span><\/p>\n