Law 41 of July 20,2004
The Government of Panama created the Panama Pacifico Special Economic Area under Law 41 of July 20,2004, which acts autonomously and is responsible for the administration, promotion, development, regulation and proper use of the areas assigned to Panama-Pacific.
What’s Law 41 for?
Law 41 aims to create a special legal, fiscal, customs, labor, immigration and business regime for the establishment and operation of a Special Economic Area in the district of Arraiján, province of Panama, called the Panama Pacifico Special Economic Area, aimed at encouraging and ensuring the free flow and movement of goods, services and capital, in order to attract and promote investment, job creation and make the Republic of Panama more competitive in the global economy.
This area offers special benefits to companies that establish themselves within the sector:
- Integrated Procedures System (ITS)
- Special labour and migration regulations
- Tax Incentives (Partial or total tax exemption)
- Law on investment stability
- Single Registration
- Higher education institution
- Facilities such as banks, pharmacies, restaurants, gyms, among others.
