Top Ten Reasons to Move your Latin American Headquarters to Panama
|
|
- Cameron Weaver
- 6 years ago
- Views:
Transcription
1 Top Ten Reasons to Move your Latin American Headquarters to Panama Dec 06, 2011 Top Ten By María Carolina Arroyo Carin Stelp This resource is sponsored by: By María Carolina Arroyo and Carin Stelp, Arias, Fabrega & Fabrega Any company considering opening an office overseas has a lot to think about and a lot of choices as to where they may go. With this in mind, Panama has recently made a concerted effort to make the country more appealing to global corporations and to take advantage of its geographic location, political stability, and historical status as the crossroads of the world. The result is a number of legal regimes that make doing business in Panama attractive for everyone, but particularly for foreign corporations by providing tax, labor and immigration benefits to them. In combination with an already business-friendly environment and an open and welcoming society, these regimes make Panama an ideal choice for your Latin American Headquarters. Here are ten reason we believe moving your Latin American headquarters to Panama is a solid business decision. 1. Special incentive laws. Panama has a number of laws that provide incentives to companies establishing themselves in the country, regardless of their line of business. Regional Headquarters. Any kind of company can establish its global or regional headquarters in Panama to provide operational, administrative and other back office support to the company s other offices around the world under the multinational headquarters license. To date, more than 60 international companies have established operations in Panama under this license, including Procter & Gamble, Caterpillar and Adidas. Panama-Pacifico Special Economic Zone. Panama-Pacifico, a 1,400-hectare international business park, provides incentives to companies that carry out a wide range of activities such as back office operations, offshore services and
2 logistics services, among others. Companies operating out of Panama-Pacifico include 3M, BASF and Dell Computers. Colon Free Trade Zone. Companies that engage in the tracking and distribution of goods can establish operations in the Colon Free Trade Zone, which is located at the Caribbean entrance of the Panama Canal and is the largest free trade zone in the Americas. The Colon Free Trade Zone allows for the tax free importation and exportation of goods. Manufacturing and Export Zones. For companies whose activities are targeted overseas but that don t necessarily engage purely in the import/export business, or that don t wish to set up operations in Colon, a newly implemented law allows for the establishment of a free trade zone anywhere in the country. Companies that establish operations in one of these free trade zones may engage in a wide range of activities, from manufacturing to the provision of services; however, only activities targeted outside the country or to other companies located within the free trade zone qualify for tax incentives. Call Centers. Companies operating call centers can also operate in Panama under legislation that provides tax exemptions on income earned from international calls. Technological Zone. The City of Knowledge is an international center for education, research, and technological innovation, which includes a business incubator that provides benefits to companies working in the areas of communications and IT, biosciences, environmental management, human development and business management. Petroleum Storage and Refinement Zone. Companies that engage in the import, export, storage, refinement and selling of oil and petroleum derivatives can operate within one of the Petroleum Free Zones in the country, which are enclosed areas that are designated for petroleum-related activities and provide tax benefits on the importation, exportation and sale of oil. 2. Establishing a legal entity in Panama is easy. The three most common vehicles for doing business in Panama are local corporations, local limited liability companies, and branches of foreign corporations, all of which are quick and easy to set up. Corporations are by far the most common vehicle. There is no required minimum number of shareholders, and corporations may be wholly-owned by a single shareholder, who may be an individual or a legal entity. In recent years, limited liability companies have gained popularity as vehicles for doing business in Panama, especially for U.S. tax payers as they, unlike corporations, are considered pass through entities for U.S. tax purposes. A third option is to open a branch of a foreign corporation in Panama. There are very few significant differences between operating in Panama through a local subsidiary and through a branch of a foreign corporation. The primary difference between the two the vehicles is in their dividend tax treatment. Any of these three business vehicles can be set up quickly and easily by executing articles of incorporation and filing them at the registry of companies. The process takes about one week. 3. Significant corporate tax benefits. Panama s taxation system is mainly territorial inasmuch as, generally speaking, only income earned from Panama sources or with respect to assets located in Panama is taxed. This territorial principle partially accounts for the successful development of Panama as a base for international operations. Corporate income tax for most companies is paid at a rate of 25%, while dividend payments are taxed at a rate of 10% if the earnings arose from Panama-source income and 5% if the earnings arose out of foreign-source income. Companies operating under one of the special incentive regimes described in item 1 above receive significant tax benefits Multinational headquarters are exempt from the following taxes:
3 - Income tax as long as services are provided to subsidiaries or affiliates located outside of Panama. - Sales tax for services provided to persons outside of Panama. Companies established in the Panama-Pacifico Zone are exempt from the following taxes: - Income tax - Dividend tax - Import duties (unless goods are sold within Panama) - Export duties - Sales tax exemption for specific business activities - Taxes on the movement or storage of fuel or other hydrocarbons - Real estate property tax - Capital gains tax on company share transfers - Stamp taxes Companies established in the Colon Free Trade Zone receive the following tax benefits: - Exemptions on income tax on income earned on export and re-export operations - Reduced 5% dividend tax - Exemptions on import duties Companies established in other manufacturing and export zones are exempt from all direct and indirect taxes, fees, contributions and charges, with the exception of employment related taxes, until January 1, As of that date, companies will be exempt from all taxes except for a limited number of taxes, such as income tax on leases and a reduced 5% dividend tax. Call centers are exempt from all direct and indirect taxes, fees, contributions and charges with respect to international calls, except for fees charged by the National Public Services Authority and employment and social security contributions. Companies operating within the City of Knowledge benefit from the following tax incentives: - Exemption from import taxes on all machinery, equipment, furniture, vehicles, devices and other materials necessary for the project s development - Exemption from sales tax on machinery, equipment, vehicles, devices and consumables necessary for the project s development - Exemption from property taxes - Exemption from any taxes, fees, duties, or levies imposed on the remittance of money abroad when the transfer of such funds is related to the purpose of the project or operation - Zero taxes, including income tax exemptions, on all operations or activities of companies producing, assembling or processing high-tech goods within the Technological Park Petroleum free zones are exempt from all taxes, tariffs or other tax obligations levied on the importation, exportation or re-exportation of crude oil or its derivatives, or on raw materials, supplements or additives, machinery, equipment, materials, parts or other goods provided that they are imported into or exported out of the PFZ in relation to exportation or re-exportation activities. In addition, the sale or delivery of petroleum is not subject to income tax or other contributions provided that the petroleum is not destined for the Panamanian customs territory. 4. Significant employee tax benefits. Personal income tax is between 15% and 25% depending on the income level. However, employees operating under the
4 multinational headquarters license, and employees with exclusive overseas responsibilities are exempt from the payment of personal income tax. 5. Immigration visas are easily obtained. There are a number of visa options available for foreign personnel, which makes it easy for foreign companies to bring to Panama their foreign executives and their families. Most company sponsored immigration visas are granted for one-year terms, renewable for up to six years. Employees must also obtain a work permit from the Ministry of Labor. However, visas for employees in companies operating under the multinational headquarters law are granted for five-year renewable terms. These employees are not required to obtain a work permit. The multinational headquarters law also grants temporary three-month visas for employees that will only be in the country for a short period of time. Panama-Pacifico also offers five-year visas. In addition there are visas available for shareholders or officers of a company that invest a minimum corporate capital of US$160, with the purpose of establishing commercial, financial or industrial activities in Panama. 6. Special incentive laws provide flexible labor laws and work visas. As a general rule, the Labor Code establishes that no more than 10% of employees in a given company may be foreign personnel. The compensation paid to foreign personnel may also not be more than 10% of the total payroll. However, under many of the special incentive laws mentioned above, this quota is increased to 15%. Furthermore, under the multinational headquarters law, foreign executives whose income is paid from outside the country are exempt from these quotas. Executives in Panama with exclusive overseas responsibilities are also exempt from the quotas. Special incentive laws also provide additional labor benefits, such as flexible work schedules, fixed surcharges for overtime, and negotiable weekly rest and vacation periods. 7. Foreign investment. Panama boasts one of the most open and welcoming economies to foreign investment in Latin America. There is no requirement that foreign investment into the country be registered in, or obtain any prior approvals from, any governmental office or agency in Panama. As a result, Panama is now Latin America s largest recipient of foreign direct investment as a percentage of its GDP. Panama affords equal, fair and equitable treatment to national and foreign investors under its laws. In addition to these principles contemplated by local laws, the country has signed a number of bilateral investment agreements and free trade agreements, which include provisions granting national treatment, most-favorable-nation treatment, and fair-and-equitable treatment to foreign investors. For example, Panama has signed Foreign Investment and Protection Agreements with the United States, France, Great Britain, Switzerland, Germany, China, and Canada, among others. Foreign investors, as well as nationals, can benefit from stability with respect to labor, tax and customs duties under the 1998 investment stability law. Under this law, investors can register investments in excess of US$ 2 million in certain qualifying businesses with the National Investment Registry of the Ministry of Commerce and Industry, and obtain a guarantee from the government that these investments will not be affected by adverse changes in laws in the areas of employment relations, taxation and customs duties for a period of up to 10 years. 8. Lack of exchange controls. Although the official currency of Panama is the Balboa, the Balboa has the same value as the U.S. dollar. The Balboa only exists in the form of coins, which are minted in the same size and denominations as U.S. coins, and the U.S. dollar is the legal tender and has circulated freely along with Panamanian coins since As a result, there are no exchange controls and capital can be moved freely in and out of the country. With its fully dollarized economy, Panama offers monetary stability. 9. Panama offers a good business environment. Panama connects Central and South America, and, as a place of transit, serves as an international commercial and
5 financial centre. In addition to the Panama Canal, which brings shipping to the country from all over the world, the international airport in Panama serves as a regional hub for many major airlines, facilitating travel within Latin America, as well as to North America and Europe. Panama is a politically stable country, with regular, free and open elections. The country has also not experienced the insecurity that other Latin American countries have seen in recent years, and the need for private security among professionals and executives is non-existent. Panama also provides an open, market economy with very little government intervention. Furthermore, although the official language of Panama is Spanish, English is widely spoken as a second and commercial language, particularly in the main cities of Panama and Colon. 10. Free trade agreements. Panama has signed and ratified free trade agreements with Nicaragua, Guatemala, Honduras, Costa Rica, El Salvador, Taiwan, Singapore, and Chile. A free trade agreement with Canada was signed in 2009 but has not yet been ratified. A trade promotion agreement with the United States was signed on June 28, 2007, and just recently ratified by the U.S. Congress. In addition, Panama has more limited trade agreements, or so called partial scope agreements, with the Dominican Republic, Mexico, Colombia and Cuba. These free trade agreements provide the signatory countries with investment protections, reduced import/export tariffs and strong intellectual property protections. The above described benefits are all excellent reasons to consider moving your Latin American operations to Panama. The open and business-friendly environment is unparalleled in the region, and the various special inventive laws can provide a range of additional benefits to almost any corporation, in any area of business. The information in this Top Ten should not be construed as legal advice or legal opinion on specific facts and should not be considered representative of the views of its authors, its sponsors, and/or the ACC. This Top Ten is not intended as a definitive statement on the subject addressed. Rather, it is intended to serve as a tool providing practical advice and references for the busy in-house practitioner and other readers. Reprinted with permission from the Association of Corporate Counsel (ACC) 2011 All Rights Reserved.
Doing Business in Costa Rica
Doing Business in Costa Rica The purpose of this presentation is to provide information to investors who are evaluating Costa Rica as a potential location for their business. General Facts The Republic
More informationSETTING UP BUSINESS IN COSTA RICA
www.antea-int.com SETTING UP BUSINESS IN COSTA RICA 1 General Aspects Costa Rica is a country in Central America, it borders the Caribbean Sea (to the east) and the Pacific Ocean (to the west), Because
More informationSETTING UP BUSINESS IN COSTA RICA
www.antea-int.com SETTING UP BUSINESS IN COSTA RICA 1 General Aspects Costa Rica is a country in Central America, it borders the Caribbean Sea (to the east) and the Pacific Ocean (to the west), Because
More information- DOING BUSINESS IN PANAMA -
- DOING BUSINESS IN PANAMA - Doing Business in Panama 1. Economic highlights. Population: Approximately 3,400,000 people as per the latest census (2010). Government: Constitutional Democracy. A President
More informationPanama s Recent FTAs. Estif Aparicio Cartagena, Colombia April 20, 2009 Americas Regional Meeting 2009 INTERLAW
Panama s Recent FTAs Estif Aparicio Cartagena, Colombia April 20, 2009 Americas Regional Meeting 2009 INTERLAW 1. Snapshot of Panama s Economy 2. Anatomy of an FTA 3. Panama US FTA 4. Panama Singapore
More informationBusiness Opportunities in the. Dominican Republic. National Free Zones Council of the Dominican Republic. March, 2018 Helsinki, Finland
Business Opportunities in the Dominican Republic National Free Zones Council of the Dominican Republic March, 2018 Helsinki, Finland 6 th. Most visited country in the western hemisphere A great place for
More informationFOREIGN INVESTMENT IN COLOMBIA
FOREIGN INVESTMENT IN COLOMBIA Overview, principles, types of foreign investment, international instruments for the protection of foreign investment, and Pacific Alliance. Bogotá is the first city with
More informationCHAPTER 4. Competing in World Markets
Chapter Summary: Key Concepts Why Nations Trade CHAPTER 4 Competing in World Markets Importing/exporting International sources of factors of production Size of the international marketplace Major world
More information1.BPO #INVESTINGUATEMALA. Industry in Guatemala
#INVESTINGUATEMALA Industry in Guatemala General information of the country Capital City Currency Exchange Rate (2013) Official Language Population Labor Force (2013) GDP (2013) FDI inflows (2013) Exports
More informationU.S. Department of Commerce U.S. Commercial Service. Resources for U.S. Exporters. March 27, 2015
U.S. Department of Commerce U.S. Commercial Service Resources for U.S. Exporters March 27, 2015 Who Are We? Federal government agency created in 1980 Part of the U.S. Department of Commerce Mission: Promote
More informationtariff global business nontariff barriers multinational corporation quota direct foreign investment trade barriers voluntary export restraints
global business tariff multinational corporation nontariff barriers direct foreign investment quota trade barriers voluntary export restraints protectionism government import standard A direct tax on imported
More informationInternational Tax Panama Highlights 2018
International Tax Panama Highlights 2018 Investment basics: Currency Panamanian Balboa (PAB) and US Dollar (USD) Foreign exchange control The state-owned bank, Banco Nacional de Panamá, is responsible
More informationU.S. Commercial Service An Exporter s Resource. June 7, 2011 Rebecca Torres, Commercial Officer
U.S. Commercial Service An Exporter s Resource June 7, 2011 Rebecca Torres, Commercial Officer U.S. COMMERCIAL SERVICE WHO WE ARE Agency within the U.S. Department of Commerce s ITA (International Trade
More informationTaxation Systems on Taiwan Outward Investment in China
Taxation Systems on Taiwan Outward Investment in China Der-cherng Lo Department of Public Finance National Chengchi University January 2008 Contents of presentation I. Introduction II. Current regulations
More informationEstablishing Branches of Foreign Corporations in Central America, Panama and British Honduras
University of Miami Law School Institutional Repository University of Miami Inter-American Law Review 6-1-1969 Establishing Branches of Foreign Corporations in Central America, Panama and British Honduras
More informationThe guide is intended to be used for informational purposes only and you should consult a professional tax advisor to acquire more information.
FOREWORD This guide has been prepared to provide basic information to those interested in investing and doing business in Costa Rica. It does not cover in detail all the requirements and subjects considered,
More informationTHIRD INDIGENOUS LEADERS SUMMIT OF THE AMERICAS (3RD ILSA) Panama City, Republic of Panama April 14-15, 2009 LOGISTICAL BULLETIN
THIRD INDIGENOUS LEADERS SUMMIT OF THE AMERICAS (3RD ILSA) Panama City, Republic of Panama April 14-15, 2009 1. Introduction LOGISTICAL BULLETIN The Third Indigenous Leaders Summit of the Americas (3 rd
More informationAID FOR TRADE CASE STORY: COSTA RICA
AID FOR TRADE: CASE STORY COSTA RICA Date of submission: January 2011 Region: Latin America Country: Type: Author: Contact Details: Trade Opening as a Key Element of the Development Costa Rica Strategy/Trade
More information4.LIGHT MANUFACTURING
4.LIGHT MANUFACTURING #INVESTINGUATEMALA Industry in Guatemala General information of the country Capital City Currency Exchange Rate (2013) Official Language Population Labor Force (2013) GDP (2013) FDI
More informationMAJOR TRENDS IN MULTINATIONALS
MAJOR TRENDS IN MULTINATIONALS Globalization has expanded presence of companies in different markets Proliferation of markets have made necessary the establishment of regional headquarters Regional centers
More informationCharting Mexico s Economy
Charting Mexico s Economy Designed to help executives catch up with the economy and incorporate macro impacts into company s planning. Annual subscription includes 2 semiannual issues published in June
More informationGreat Firms, Outstanding Network COUNTRY. Doing Business in Panama
Great Firms, Outstanding Network COUNTRY Doing Business in Panama Preface This guide has been prepared by Baker Tilly Panama, S.A., an independent member of Baker Tilly International. It is designed to
More informationFedEx International Priority. FedEx International Economy 3
SERVICES AND RATES FedEx International Solutions for your business Whether you are shipping documents to meet a deadline, saving money on a regular shipment or moving freight, FedEx offers a suite of transportation
More informationSt. Martin 2013 SERVICES AND RATES
SERVICES AND RATES FedEx International Solutions for your business Whether you are shipping documents to meet a deadline, saving money on a regular shipment or moving freight, FedEx offers a suite of transportation
More informationThe Americas. Port of the Americas. Executive Director, Port of the Americas Authority
Port the Americas Rhonda M. Castillo Gammill, Esq., P.E. Executive Director, Port the Americas Authority Port the Americas Authority - Public Corporation created by Law 171 August 11, 2002 Objective: promote,
More informationSPECIALISTS IN INTERNATIONAL LAW ON LATIN AMERICA AND THE CARIBBEAN, S.C.
SPECIALISTS IN INTERNATIONAL LAW ON LATIN AMERICA AND THE CARIBBEAN, S.C. www.sillac.com SILLAC WEB-SEMINAR SERIES PRESENTS WEB-SEMINAR 3 on Foreign Investment in Latin America and the Caribbean R. Leticia
More informationHelping Tennessee Companies Export
Helping Tennessee Companies Export Let the U.S. Commercial Service connect you to a world of opportunity. Williamson County Chamber of Commerce July 11, 2014 TN SBDC International Trade Center ITC Services:
More informationCosta Rica. Destination for living or investing
Costa Rica Destination for living or investing Costa Rica WE ARE IN CENTRAL AMERICA Nicaragua Panamá Dynamic economy in Central America Shows bigger growth Higher per capita income and foreign investment
More informationU.S. Commercial Service Panama. Panama s Business Opportunities. Daniel Crocker Senior Commercial Officer Embassy of the United States of America
U.S. Commercial Service Panama Panama s Business Opportunities Daniel Crocker Senior Commercial Officer Embassy of the United States of America Panama The Crossroads of the World Location, Location, Location
More informationBelize FedEx International Priority. FedEx International Economy 3
SERVICES AND RATES FedEx International Solutions for your business Whether you are shipping documents to meet a deadline, saving money on a regular shipment or moving freight, FedEx offers a suite of transportation
More informationBelize FedEx International Priority. FedEx International Economy 3
SERVICES AND RATES FedEx International Solutions for your business Whether you are shipping documents to meet a deadline, saving money on a regular shipment or moving freight, FedEx offers a suite of transportation
More information3.FOOD INDUSTRY #INVESTINGUATEMALA. Industry in Guatemala
3.FOOD INDUSTRY #INVESTINGUATEMALA Industry in Guatemala General information of the country Capital City Currency Exchange Rate (2013) Official Language Population Labor Force (2013) GDP (2013) FDI inflows
More informationLATIN AMERICA & THE CARIBBEAN. A Legal Guide for Business Investment and Expansion
LATIN AMERICA & THE CARIBBEAN A Legal Guide for Business Investment and Expansion ABOUT MERITAS Founded in 1990, Meritas is the premiere global alliance of independent law firms working collaboratively
More informationFOREWORD. Panama. Services provided by member firms include:
FOREWORD A country's tax regime is always a key factor for any business considering moving into new markets. What is the corporate tax rate? Are there any incentives for overseas businesses? Are there
More informationOptimizing Asian Operations Through Hong Kong s Double Tax Agreement Network
Volume 61, Number 11 March 14, 2011 Optimizing Asian Operations Through s Double Tax Agreement Network by Paul Previtera, Brandon Boyle, and Michael Kent Reprinted from Tax Notes Int l, March 14, 2011,
More informationPublic Procurement networks in Latin America and the Caribbean
Session #7: Cross regional Learning: Cases in Caribbean and Latin American Countries Public Procurement networks in Latin America and the Caribbean Asia Pacific Public Electronic Procurement Network 2nd
More informationCASE STORY TEMPLATE PUBLIC SECTOR - 1 -
- 1 - PAGE 4: (B.1) YOUR CASE STORY: TITLE AND DESCRIPTION Q1: TITLE OF CASE STORY (Maximum 50 words) A fast, secure track for international trade Q2: CASE STORY ABSTRACT (Maximum 150 words) Cross-border
More informationPanama. Services provided by member firms include:
2016/17 FOREWORD A country's tax regime is always a key factor for any business considering moving into new markets. What is the corporate tax rate? Are there any incentives for overseas businesses? Are
More informationTaxes in Latin America and the Caribbean Situation and prospects
Taxes in Latin America and the Caribbean Situation and prospects Alberto Barreix Principal Technical Leader on Fiscal Economist, IDB Angel Melguizo, Head for Latin America, OECD Development Centre Taxation
More informationLATIN AMERICA & THE CARIBBEAN. A Legal Guide for Business Investment and Expansion
LATIN AMERICA & THE CARIBBEAN A Legal Guide for Business Investment and Expansion ABOUT MERITAS Founded in 1990, Meritas is the premiere global alliance of independent law firms working collaboratively
More informationEU Trade Policy and CETA
EU Trade Policy and CETA http://www.youtube.com/watch?v=iioc5xg2i5y The EU a major trading power European Commission, 2013 The EU a major trading power % of global exports, goods, 2012 % of global exports,
More informationThe results will be updated from time to time as approved by the Inclusive Framework.
Harmful Tax Practices 2017 Progress Report on Preferential Regimes INCLUSIVE FRAMEWORK ON BEPS: ACTION 5 Update (as at 24 January 2018) Original report available at: www.oecd.org/tax/beps/harmful-tax-practices-2017-progress-report-on-preferential-regimes-
More informationLow-carbon Development and Carbon Finance at the IDB Maria Netto Sustainable Energy and Climate Change Unit (ECC)
Low-carbon Development and Carbon Finance at the IDB Maria Netto Sustainable Energy and Climate Change Unit (ECC) 11th Annual Workshop on Greenhouse Gas Emission Trading Oct 3 rd, 2011 Context for IDB
More informationMalaysia company registration
Malaysia company registration Table of contents For over a decade, Healy Consultants has efficiently and effectively assisted our Clients with registering their business in Malaysia. We help our Clients
More informationLessons and Experiences of Mexico in Dealing with Issues Emerging from RTAs/FTAs Participation
006/SOM/CTI/FTA-RTA/0 Lessons and Experiences of Mexico in Dealing with Issues Emerging from RTAs/FTAs Participation Submitted by: Mexico APEC Workshop on Best Practices in Trade Policy for RTAs/FTAs:
More informationThe results will be updated from time to time as approved by the Inclusive Framework.
Harmful Tax Practices 2017 Progress Report on Preferential Regimes INCLUSIVE FRAMEWORK ON BEPS: ACTION 5 Update (as of 1 October 2018) Original report available at: www.oecd.org/tax/beps/harmful-tax-practices-2017-progress-report-on-preferential-regimes-
More informationWhat s So Hot About Panama
What s So Hot About Panama - SELECTION CRITERIA FOR GLOBAL PROPERTY INVESTMENT CRITERIA Legal System and Tax Laws Incentives for expats Stable currency denominated property Economic Growth, property Growth
More informationCOSTA RICA IMPORT POLICIES. Tariffs and Other Import Charges
COSTA RICA In 1998, the U.S. trade deficit with Costa Rica was $446 million, an increase of $146 million from 1997. U.S. merchandise exports to Costa Rica were $2.3 billion, an increase of $275 million
More informationChile: Business Environment and Investment Opportunities
Chile: Business Environment and Investment Opportunities Guest Speaker 14:00 15:00 GUEST SPEAKER Martin Pathan Investment Officer Foreign Investment Committee Chile: business environment and investment
More informationDAVID STUBBS ECONOMIC & BUSINESS UPDATE
DAVID STUBBS ECONOMIC & BUSINESS UPDATE Panama July 2012 Why should I care? Economic health of a country impacts everyone living or investing there. Infrastructure investment Job creation Future real estate
More informationAuto Part Manufacturing Overview
Auto Part Manufacturing Overview The global manufacture of auto parts is growing exponentially. This growth represents form any companies of the sector aneed to reframe their supply chains, and look for
More informationLATIN AMERICAN ENTREPRENEURS MANY FIRMS BUT LITTLE INNOVATION
LATIN AMERICAN ENTREPRENEURS MANY FIRMS BUT LITTLE INNOVATION Daniel Lederman, Julián Messina Samuel Pienknagura, Jamele Rigolini Chief Economist Office for Latin America and the Caribbean World Bank More
More informationAfrICANDO th Annual. Making Technology Work for African MSMEs, Globally. U.S. Africa Trade & Investment Symposium. September 25 27, 2018
THE FOUNDATION FOR DEMOCRACY IN AFRICA 20th Annual AfrICANDO 2018 U.S. Africa Trade & Investment Symposium Making Technology Work for African MSMEs, Globally September 25 27, 2018 Miami Free Zone 2315
More informationForeign Investment in Uruguay. Recent Legal Developments
Recent Legal Developments Uruguay has demonstrated a committed attitude towards investors, making the respect for the rule of law a golden rule. Basic Legal Framework Recent Legal Developments Foreign
More informationSWITZERLAND AND EUROPE. 4.1 Trade and Direct Investments Political and Economic Cooperation The Euro... 57
SWITZERLAND AND EUROPE 4.1 Trade and Direct Investments... 53 4.2 Political and Economic Cooperation... 53 4.3 The Euro... 57 4 Image European Union delegation for Switzerland and the Principality of Liechtenstein,
More informationEconomic Development and the Americas
Economic Development and the Americas Chapter 9 McGraw-Hill/Irwin Copyright 2013 by The McGraw-Hill Companies, Inc. All rights reserved. Learning Objectives LO1 LO2 LO3 LO4 LO5 LO6 LO7 LO8 The importance
More informationCOSTA RICA. Foreign Trade Barriers 71
COSTA RICA In 1997, the U.S. trade deficit with Costa Rica was $300 million, an increase of $140 million from the U.S. trade deficit of $160 million in 1996. U.S. merchandise exports to Costa Rica were
More informationHONDURAS. 1. General trends
Economic Survey of Latin America and the Caribbean 2017 1 HONDURAS 1. General trends The economy grew by 3.6% in 2016, maintaining the pace recorded in 2015 thanks to private and public consumption (up
More informationExploring Global Business
Ch.3 Exploring Global Business 1 Explain the economic basis for international business. 2 Discuss the restrictions nations place on international trade, the objectives of these restrictions, and their
More information6.GARMENTS & TEXTILES
6.GARMENTS & TEXTILES #INVESTINGUATEMALA Industry in Guatemala General information of the country Capital City Currency Exchange Rate (2013) Official Language Population Labor Force (2013) GDP (2013) FDI
More informationINDIA GREECE NETHERLANDS
HOLDING STRUCTURES Updated information JULY 2013 INDEX ANDORRA BULGARIA CYPRUS INDIA GREECE NETHERLANDS SPAIN URUGUAY GERMANY The content of this newsletter has been written or gathered by ANTEA Alliance
More informationDOING BUSINESS IN PANAMA
LOMBARDI AGUILAR GROUP DOING BUSINESS IN PANAMA I. COMPANY FORMATION 1.1 What minimum share capital is required to be authorized, issued or paid up? (a) (b) (c) Authorized? No minimum required Issued?
More informationDOING BUSINESS IN PANAMA
LOMBARDI AGUILAR & GARCIA DOING BUSINESS IN PANAMA I. COMPANY FORMATION 1.1 What minimum share capital is required to be authorized, issued or paid up? (a) (b) (c) Authorized? No minimum required Issued?
More informationCOUNTRY. Doing Business in. Uruguay
COUNTRY Doing Business in Uruguay Preface This guide has been prepared by Baker Tilly Uruguay, an independent member of Baker Tilly International. It is designed to provide information on a number of
More informationU.S. Trade with Major Trading Partners
U.S. Trade with Major Trading Partners December 18, 2018 Congressional Research Service https://crsreports.congress.gov R45434 Summary U.S. world trade has grown steadily over the past decade. In 2017,
More informationTHE PANAMANIAN SECURITIES MARKET
THE PANAMANIAN SECURITIES MARKET ACSDA X General Assembly Panama, February 22, 2008 Carlos A. Barsallo P. Chairman Panamanian Securities Commission (CNV) Chairman Iberoamerican Securities Markets Institute
More informationClick to edit Master title style. Presented by Sylvia Solf Private and Financial Sector Vice-presidency World Bank Group
Doing Business 2009 Presented by Sylvia Solf Private and Financial Sector Vice-presidency World Bank Group 2007 Starting a business Dealing with construction permits Employing workers Registering property
More informationNicaragua. 1. General trends. 2. Economic policy. The economy grew by 4.5% in 2010, after shrinking by 1.5% in 2009, indicating that Nicaragua
Economic Survey of Latin America and the Caribbean 2010-2011 197 Nicaragua 1. General trends The economy grew by 4.5% in 2010, after shrinking by 1.5% in 2009, indicating that Nicaragua has recovered from
More informationTRAC Services Individual Challenges and Harmonisation: The CMC Post approval Landscape in Argentina, Mexico and Colombia
TRAC Services Individual Challenges and Harmonisation: The CMC Post approval Landscape in Argentina, Mexico and Colombia Introduction Latin America is a fast growing region both in terms of populations
More informationProgram Budget
Special Advisory Commission on Management Issues (SACMI) 2020-2021 Program Budget IICA/CCEAG/DT-02 (19) San Jose, Costa Rica 8 May 2019 Draft Program Budget 2020-2021 Inter-American Institute for Cooperation
More informationRevenue Statistics in Latin America and the Caribbean
Revenue Statistics in Latin America and the Caribbean 1990-2015 XXIX ECLAC Regional Seminar on Fiscal Policy Santiago, Chile March 23, 2017 Revenue Statistics in Latin America and the Caribbean 1990-2015
More informationINTERNATIONAL BUSINESS ASSOCIATION GENERAL RAPPORTEURSHIP COLOMBIA
INTERNATIONAL BUSINESS ASSOCIATION GENERAL RAPPORTEURSHIP COLOMBIA A. Tax Reform: Law 1739/2014 On the 23 rd of December, 2014, the Colombian government enacted a new tax reform, considering new taxes
More informationQ & A CREA TU FUTURO PROGRAM ALONG WITH THE REGION S
CREA TU FUTURO PROGRAM Q & A 1. What is the Investment Operations Department (INO)?. What is this program about?. How long does the program last?. In which divisions can I work? 5. Which are the program
More informationChina s role in Latin America: Participation & Consequences
China s role in Latin America: Participation & Consequences November 2017 Le Xia Asia Chief Economist, BBVA Research Index 01 Evolution of bilateral trade and investment 02 LatAm s export dependency on
More informationALADI Initiatives on Non-Tariff Measures
ALADI Initiatives on Non-Tariff Measures Non-Tariff Measures Week Mandatory Trade Regulations and Voluntary Sustainability Standards 25-27 September 2017 General Secretariat of the ALADI sgaladi@aladi.org
More informationWritten evidence submitted by the British Retail Consortium (BRC) (TB10)
Written evidence submitted by the British Retail Consortium (BRC) (TB10) Executive Summary Key BRC priority on Trade Bill is to ensure the transitioning of more than 60 free trade and associated bilateral
More informationIntroduction to IRELAND
Introduction to IRELAND Ireland is one of the smallest and most open countries in the Eurozone. Exports and imports make up around 200% of its GDP. Thanks to an attractive fiscal and regulatory environment,
More informationServices Trade: Essential Fuel for U.S. and Global Economic Growth
Services Trade: Essential Fuel for U.S. and Global Economic Growth CHRISTINE BLISS, PRESIDENT, THE COALITION OF SERVICES INDUSTRIES SERVICESCOALITION.ORG The Role of Services in the U.S. Economy The United
More informationINDEX 1. GENERAL ASPECTS OF THE COUNTRY 2. PERFORMING ACTS OF COMMERCE IN EL SALVADOR 3. TAXES 4. FREE TRADE ZONES AND SERVICES PARKS
INDEX 1. GENERAL ASPECTS OF THE COUNTRY Government Security Economy Political Stability Incentives to Foreign Investments 2. PERFORMING ACTS OF COMMERCE IN EL SALVADOR Incorporation and establishment of
More informationDECREE No. 108/2006/ND-CP OF SEPTEMBER 22, 2006, DETAILING AND GUIDING THE IMPLEMENTATION OF A NUMBER OF ARTICLES OF THE INVESTMENT LAW THE
DECREE No. 108/2006/ND-CP OF SEPTEMBER 22, 2006, DETAILING AND GUIDING THE IMPLEMENTATION OF A NUMBER OF ARTICLES OF THE INVESTMENT LAW THE GOVERNMENT Pursuant to the December 25, 2001 Law on Organization
More informationRegional Situation on Implementation of ephyto COSAVE, OIRSA and CAN. IPPC Global Symposium on Implementation of ephyto
Regional Situation on Implementation of ephyto COSAVE, OIRSA and CAN IPPC Global Symposium on Implementation of ephyto 2015-11 Personal Presentation Full name: Walter Fabián Alessandrini IT Project Leader
More informationDoing Business in Latin America. - an Underwriter s personal view
Doing Business in Latin America - an Underwriter s personal view Chartis 2012 Ease of Doing Business 2012 World Bank Ranking Economy 2012 Ranking Ease of Doing Business Singapore 1 Chile 39 Peru 41 Colombia
More informationIII. TRADE-RELATED ASPECTS OF INVESTMENT POLICIES. (1) Foreign Direct Investment: General Policy Direction
Page 26 III. TRADE-RELATED ASPECTS OF INVESTMENT POLICIES (1) Foreign Direct Investment: General Policy Direction 1. Singapore's rapid economic growth has been to a large extent due to massive foreign
More informationMoney and Politics: the Latin American experience
Money and Politics: the Latin American experience José Thompson Director of CAPEL Money on the front page when it comes to Politics in Latin America Nicaragua (Alemán/Bolaños cases) Mexico (millionaire
More informationIndustrial Costs in Mexico
Industrial Costs in Mexico By Ed Juline www.mexicorepresentation.com +1 (956) 242-742 ejuline@mexicorepresentation.com Introduction In 2006 Foreign Direct Investment (FDI) around the world continued to
More informationTotal Imports by Volume (Gallons per Country)
3/7/2018 Imports by Volume (Gallons per Country) YTD YTD Country 01/2017 01/2018 % Change 2017 2018 % Change MEXICO 54,235,419 58,937,856 8.7 % 54,235,419 58,937,856 8.7 % NETHERLANDS 12,265,935 10,356,183
More informationThe Central America Free Trade Agreement with the United States (CAFTA): Negotiations and Outcomes. Dr. Arturo Condo
The Central America Free Trade Agreement with the United States (CAFTA): Negotiations and Outcomes Dr. Arturo Condo Dean of Innovation and Institutional Development AGENDA Central America today CAFTA &
More informationIndian Perspective. J. B. Chemicals & Pharmaceuticals Ltd. Dr Milind Joshi Global Regulatory Management 28 June 07
President Dr Milind Joshi Global Regulatory Management 28 June 07 Drug Regulatory Process Indian Perspective Latin America www.jbcpl.com Copyright 2005 J. B. Chemicals Pvt. Ltd. Regulation Product regulation
More informationDriving change. Achieving results.
Driving change. Achieving results. Proactively adapting to new tax realities. 2016 Latin America Tax Summit, Rio de Janeiro 29 February to 2 March Gaining Competitive Advantage Through the Use of FTZs
More informationThirty-eighth Regular Meeting of the Executive Committee Program Budget. IICA/CE/Doc. 679 (18) - Original: Spanish
Thirty-eighth Regular Meeting of the Executive Committee 2019 Program Budget IICA/CE/Doc. 679 (18) - Original: Spanish San Jose, Costa Rica 17-18 July 2018 Program Budget 2019 Inter-American Institute
More informationMozambique. UNCTAD Compendium of Investment Laws. Law on Investment (1993) Official translation
UNCTAD Compendium of Investment Laws Mozambique Law on Investment (1993) Official translation Note The Investment Laws Navigator is based upon sources believed to be accurate and reliable and is intended
More informationJuan Pablo Jiménez Economic Commission for Latin America and the Caribbean
Juan Pablo Jiménez Economic Commission for Latin America and the Caribbean ITC-Workshop How to Operationalize the International Tax and Development Agenda 12-14 September 2011 Bonn, Germany I. Diagnosis
More informationa member of the morgan & morgan group P Anama Private Foundation
P Anama Private Foundation MMG Panazur Ltd. SA Löwenstrasse 40 8021 Zurich Switzerland Phone +41 44 225 14 14 Fax +41 44 225 14 00 info@mmg-panazur.com www.mmg-panazur.com www.panapromo.com Copyright MMG
More informationTotal Imports by Volume (Gallons per Country)
4/5/2018 Imports by Volume (Gallons per Country) YTD YTD Country 02/2017 02/2018 % Change 2017 2018 % Change MEXICO 53,961,589 55,268,981 2.4 % 108,197,008 114,206,836 5.6 % NETHERLANDS 12,804,152 11,235,029
More informationLatin American Economic Outlook 2008
Latin American Economic Outlook 28 Javier Santiso Director & Chief Development Economist OECD Development Centre Brasilia, 4th March 28 Banco Central do Brasil The OECD and Latin America: An emerging commitment
More informationAPPENDIX 1 IMPORT TARIFF-RATE QUOTAS OF THE REPUBLICS OF THE CA PARTY
APPENDIX 1 IMPORT TARIFF-RATE QUOTAS OF THE REPUBLICS OF THE CA PARTY 1. This Appendix includes import tariff-rate quotas for originating goods of the EU Party under staging category "Q" in the Schedule
More informationLatin America on the Outsourcing Competitiveness Map. Mario Tucci Founder & Partner
Latin America on the Outsourcing Competitiveness Map Mario Tucci Founder & Partner What you will get out of this Is Latin America growing in Global Business Services? What are those services that are more
More informationLatin American Tax Update. John Guarin Latin American Project Manager - New York May 6, 2013
Latin American Tax Update John Guarin Latin American Project Manager - New York May 6, 2013 Investing in Latin America General stats (2011) Alphabetical Listing Population Economy Size GDP (current US$
More informationFOREIGN TRADE AND INVESTMENT IN CUBA PORTFOLIO OF OPPORTUNITIES
FOREIGN TRADE AND INVESTMENT IN CUBA PORTFOLIO OF OPPORTUNITIES 2016-2017 Foreign trade Foreign trade Cuba s economy is open and highly dependent on foreign trade. Founder member of GATT and belongs
More informationEQUITY REPORTING & WITHHOLDING. Updated May 2016
EQUITY REPORTING & WITHHOLDING Updated May 2016 When you exercise stock options or have RSUs lapse, there may be tax implications in any country in which you worked for P&G during the period from the
More information