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Panama Pacifico, the Special Economic Area of the Americas

Panama Pacifico is a leading business hub for multinational corporations seeking a competitive position in the Americas. Developed by the British company London & Regional Properties, Panama Pacifico is one of the largest mixed-use developments in the world with 3,450 acres (1,400 hectares) of land assets. Located in a campus-like environment on the former U.S. Howard Air Force Base near the Panama Canal and just 15 minutes from downtown Panama City, Panama Pacifico provides an exceptional environment for international operations.

Panama Pacifico is already an unprecedented regional success story and a world-class services, logistics and high value manufacturing center. Companies that establish in the Panama Pacifico SEA have the best possible advantages to maximize the competitiveness of their business, benefiting from unique incentives that apply to business activities for multinational regional headquarters, logistics and multimodal services, offshore services, business process outsourcing, shared services, services to the maritime and aviation industries, high-value manufacturing ICT services and data centers, among others.

To date, over 200 companies have found success in Panama Pacifico, including prestigious Fortune 500 and Fortune Global 2000 multinationals, benefiting from the SEA´s vibrant and growing residential community, ample availability of high-quality, bilingual human resources, its proximity of 13km to downtown Panama City and its internationally-renowned financial center, which is the most competitive and stable in the region.

Panama Pacifico is creating 1 million m² for commercial space, 20,000 new urbanist residential units, and 40,000 new jobs. The master plan also comprises the development of luxury and business hotels, retail and lifestyle centers, hospitals and clinics, universities and schools, a Greg Norman design golf course, public art, cinemas, parks and other amenities. The development, which sets a new standard of excellence not only for Panama, but also Latin America, is set within an ecologically-inspiring landscape of lakes, wetlands, mangroves, rivers, hills and forests.

Panama Pacifico is the choice of multinationals

Among the more than 200 companies currently operating in Panama Pacifico, there are numerous success stories from prestigious global enterprises such as 3M, Agrekko, Atlas Copco, Avon, BASF, Bosch Rexroth, Cable & Wireless, Cargotec, Caterpillar, Cochlear, Covidien, Cummins, Dell, Grainger, Imtech Marine, KPMG, Nipro Medical, Norton Lilly, VF Corp., Wärstilä, Wilhemsen, W.R. Grace, and many others. Their success proves the undeniable value of the Panama Pacifico SEA as a platform for operations in the local, regional and global markets.

Minimize risk in a stable environment

Become part of one of Latin America’s most competitive and dynamic economies. Reduce business risks by establishing a presence in one of the region’s most politically stable and safest countries and one of the only countries outside of the U.S. where the U.S. Dollar is the official currency.

Lower your costs and administrative burden

Benefit from incentives available only within Panama Pacifico, such as exemptions from all direct and indirect taxes for incentivized business activities. Minimize the red-tape required to set up and run your operations through a one-stop agency that brings all relevant government agencies together in a single building in Panama Pacifico, dedicated entirely to supporting companies located within Panama Pacifico.

The Panama Pacifico offers special fiscal, legal, migratory, customs and labor regimes that provide unbeatable incentives to facilitate business success and to create ideal conditions, in a secure area, for companies that seek an edge in global operations.

The business activities that can operate with special exemptions from direct or indirect taxes are the following:

  • Multinational corporate headquarters

  • Back office operations, for services aboard and within the SEA

  • Logistics and multimodal services

  • Call centers

  • High value manufacturing

  • Offshore services

  • Transmission of data and digital information

  • Film industry

  • Maintenance, repair and overhaul of airplanes

  • Services related to the aviation industry and airports

  • Manufacturing of parts and components for the aviation industry

  • Transference of products and services to ships and their passengers

  • Selling and exportation of goods not manufactured in the SEA, by multinational companies

  • Capture, processing, and storage of data and digital information

  • Services to clients aboard

  • Research and development of resources for use in ICT networks

  • Transmission of Internet, TV, audio, video and data signals

Panama Pacifico´s government One Stop Shop

The Panama Pacifico onsite One Stop Shop provides exclusive assistance to companies registered in the SEA. Within a single onsite building, companies can deal directly with 17 government offices that have the primary objective of expediently facilitating registration, customs procedures, migration needs, environmental permits, and all other procedures that may be necessary for operations. The One Stop Shop is a model for the region, and works expediently for its clients with a corporate culture that is both efficient and service-oriented.

Panama Pacifico´s One Stop Shop also operates an onsite customs office working 24 hours a day, 7 days a week. The Panama Pacifico SEA´s special customs regime is designed to allow the free flow of goods into and out of Panama Pacifico, and is based on a system of post-audits of inventories.

Panama Pacifico´s special migration benefits

In Panama Pacifico, all workforce visas are obtained onsite in the One Stop Shop. The Panama Pacifico SEA´s special migration regime offers 3 to 5-year work visas, instead of the regular 1-year visa that is offered elsewhere in Panama. There are also 5-year investor visas available, for investment of over $250k. Family visas are extended to employees´ spouses, dependents and financially-dependent parents. Additionally, Panama Pacifico´s special migration regime allows the tax-free import of up to $100k of personal items per employee.

Recruit quickly and remain flexible

Profit from favorable regulations available only within Panama Pacifico that simplify hiring and facilitate flexible shift-work. Ideally located between downtown Panama City and major residential centers, Panama Pacifico’s easy commuting access makes it an attractive workplace for employees. Choose from a variety of existing or build-to-suit property options within Panama Pacifico that are tailored to your needs in terms of timing, size, and fit-out.

Communicate globally

Enjoy high-speed access to Latin America and the US via five submarine fiber optic cables connecting through Panama Pacifico. Reduce connection times and costs by choosing from one of 9 telecommunications carriers that have set up nodes in Panama Pacifico that are linked to each building through preinstalled fibers.

Panama Pacifico´s peerless geographical advantages

The Panama Pacifico SEA´s truly unique geographic position fuses powerful conditions for investment success that simply cannot be replicated, anywhere in the world. The SEA borders the critical artery by which transits 5-6% of all world´s trade, the currently-expanding Panama Canal. It also offers ideal vicinity the Balboa port and the Panama Ports Company (7km), the interoceanic railway (7km), the PSA Panama International Terminal (5km), and all other logistics nodes of the interoceanic corridor along the Panama Canal. Panama Pacifico is also a short one hour drive of 80km from the Colon Free Trade Zone, the second largest in the world, and the Atlantic Ocean ports and logistics facilities.

Tocumen International Airport, the most connected airport in Central America, is only 23kms from Panama Pacifico, and offers 1139 direct weekly flights to major cities in the United States, all across Latin America and the Caribbean, as well as Europe.

Panama is a safe country, with a stable democratic government system, and a fully dollarized free market economy with long history of low inflation and no central bank. It is the second most competitive economy in Latin America, the first in Central America, and the fastest expanding economy in the Western Hemisphere, experiencing 8.6% compound growth over the last 5 years, and with the highest income-per-capita in Central America, according to the World Bank and the IMF, and investment-grade classification from Standard & Poors, Moody´s and Fitch Ratings.

Panama Pacifico benefits from Panama´s lush tropical climate, with steady and comfortable year-round temperatures, and a richness of beautiful destinations, including mountains, beaches, and rich biodiversity that have made the country a top worldwide tourism hotspot. Panama Pacifico also benefits from Panama´s environmental advantages, as the country does not experience any extreme climate phenomena, such as hurricanes and earthquakes that affect the rest of the Central America and the Caribbean.

Panama Pacifico´s world-class infrastructure

The World Economic Forum´s Global Competitiveness Report 2013-2014, positions Panama as having far and away the #1 quality infrastructure in Latin America, and the Panama Pacifico SEA is a key player in this categorical country advantage. Built to the top international development standards, Panama Pacifico´s International Business Park (IBP), Panama Pacifico´s offers top-of-the-line Class A offices. Panama Pacifico´s premier logistics and industrial park, the PanAmerica Corporate Center (PCC) offers warehouses that have set a new benchmark in the region for state-of-the-art infrastructure. Companies also have the option to develop built-to-suit facilities, to accommodate any specialized business requirement. Unique to Panama, Panama Pacifico´s IBP and PCC offer companies the ability to adapt the spaces to their business requirements and the flexibility to grow and expand operations.

The Panama Pacifico SEA takes advantage being directly connected to Panama´s five major submarine fiber optic telecommunication loops and trunk route systems that traverse the Isthmus of Panama, providing unlimited bandwidth and global connectivity capabilities. Four of these rings traverse through Panama: the Global Crossing ring connects Asia, America, Europe and the Caribbean, the ARCOS and MAYA rings connect America and the Caribbean and the OXYGEN route links the Caribbean to North America.

Onsite training for human resources

Panama Pacifico offers an excellent Higher Learning Center to train personnel, contributing to human resource capacity-building and talent sourcing, in direct coordination with the needs and priorities of the companies registered in Panama Pacifico.

Investment stability

Companies registered in Panama Pacifico are safeguarded by Panama´s Investment Stability Law (Law 54 of 22 July 1998), with its objective to promote and protect investments carried out in the country. This law establishes that foreign investors and the companies in which they participate, have the same rights and obligations as national investors. It provides a 10-year “snapshot” of the legal environment currently in place at the time a company registers in Panama Pacifico, in order to assure foreign investors that the conditions that may affect their business will remain unchanged, predictable and manageable.

To learn more, please visit www.PanamaPacifico.com, write to business@panamapacifico.com, or call +507 316-3535.

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