SEM Law 41 of Panama offers tax benefits multinationals installed in the country.
Strategic location, transport links, tax benefits of Law 41 SEM, technological infrastructure, the dollar, good environment for foreign employees and Panamanian talent are some of the reasons that attract multinationals to decide to install its regional headquarters in Panama, said Martin Alvarez, former executive director for Dell Latin America in an interview with La Estrella de Panama.
Alvarez saw these favorable points of Panama and now, as CEO for Latin America of the multinational company G4S, the repeats. And discloses the advantage of the country to the benefits offered by other nations.
The executive believes that while in Dell, which drew on the company was’ human talent, obviously, physical location, which is good point to manage their country of Latin America hub. The new administration of Panama gave good support to encourage foreign investment (Law 41 SEM) and creating a positive business environment to develop, and that gave capacity to serve other countries here. ‘
Alvarez is fully convinced that the attributes for business presents Panama, he witnessed in his previous work in other multinational, yet remain visible and are available. ‘Here are very good technological infrastructure, which is necessary to handle this type of operation. There is good Panamanian talent, but if you bring foreigners like to live here, and live well, it is a safe country that is developing ‘.
BETTER TO COSTA RICA
For the entrepreneur, Costa Rica and Panama compete by offering the advantages for multinational companies, but Panama is more favorable. “I think Panama is a strategic location as a hub of communications, transportation, which is much more connected than San Jose. As a city, it is a modern city, is more international, and helps a lot to be based on an international currency, the dollar. “
Law 41 of 2007, amended by Law 45 of August 10, 2012, establishes various tax incentives for the company licensed Multinational Company Headquarters (SEM) for foreign staff as upper-middle levels who work in the same.
According to data from the Ministry of Trade and Industry (MITI), these benefits include corporate profits, executive incentives, incentives for foreign migrant workers hired SEM and work incentives.
Currently, there are 117 companies in Panama SEM. By 2014, the MTI counted 112 with investment of over $ 700 million. US still leads the origin of these, followed by Spain, France, Germany and other European countries.
The number of SEM installed in Panama has increased.
117 multinational corporations have set up their headquarters in Panama by 2015.
700 million dollar investment that was surpassed in November 2014, according to the Ministry of Trade and Industry.
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