Special Area Panama Pacific
With the aim of having a logistic development area in the Pacific, near the Panama Canal and the ports, the National Government created the Special Economic Area of Panama Pacific in 2004.
The team at GÓMEZ GIRALDO & ASOCIADOS participated in the creation of said law.
The Special Economic Area Panama Pacific grants special legal benefits to companies established in this special area, such as customs, immigration, labor benefits, and tax incentives.
Among the special legal benefits provided by this area are:
- Companies located in the Special Area Panama Pacific are automatically granted legal protection for 10 years, during which no law or governmental provision can modify the tax regime and benefits corresponding to the companies established there.
- Companies established in the Special Area Panama Pacific, engaged in one of the activities listed in the law regulating this area, will be exempt from paying all national taxes, direct or indirect.
Free Trade Zones in Panama
In addition to the Colon Free Trade Zone and the Special Economic Area Panama Pacific, the Republic of Panama has Law 32 of 2011, which establishes a special, comprehensive, and simplified regime for the establishment and operation of Free Trade Zones in any other location in the Republic of Panama.
According to this regulation, all goods and services entering the areas subject to the Free Trade Zone regime, as established by Law 32, as well as the transfer of movable and immovable property originating between companies located in these Free Trade Zones for the use of their operations, are exempt from all direct and indirect taxes, contributions, fees, rights, and national levies, as well as the tax on operating licenses.
Colon Free Trade Zone
The Colon Free Trade Zone is an autonomous institution of the State and a logistic center for the distribution of goods.
It is located at the entrance of the Panama Canal, in the province of Colon.
This international free trade area is the second-largest free trade zone in the world and the largest in the Western Hemisphere, with over 3,000 companies located within this important global logistic center.
At Gómez Giraldo & Asociados, we specialize in providing comprehensive legal services to companies wishing to establish themselves in the Colon Free Trade Zone, carrying out all necessary legal procedures, from the creation of anonymous societies, obtaining operating permits, labor and migration permits, to trademark registrations in the Republic of Panama and Latin America.
The proximity of Panama City to the Colon Free Trade Zone facilitates GÓMEZ GIRALDO & ASOCIADOS in promptly addressing inquiries and solving problems that require the immediate presence of our lawyers, who have extensive experience in relation to the operations and administration of the Colon Free Trade Zone and have a thorough understanding of the complex legal structure that regulates this free trade zone, which was founded in 1948.
In this regard, and as evidence of our deep knowledge and experience within this free trade zone, we mention that the founding partner of GÓMEZ GIRALDO & ASOCIADOS, Luis Germán Gómez Giraldo, who is the son of a pioneering businessman in the Colon Free Trade Zone, was President of the Association of Users of the Colon Free Trade Zone for the period 2013-2015.
You can always trust Gomez Giraldo & Asociados
Nuestros mejores abogados
We can solve
all your problems
At GÓMEZ GIRALDO & ASOCIADOS, we are committed to providing you with the best personalized legal advice. If you need assistance in any area of law or have any questions about our services, please do not hesitate to contact us.
