TOURISM


PANAMA’S INVESTMENT ENVIRONMENT

  • It has one of the most complete banking centers of Latin America.
  • Its legal tender is the United States of America dollar.
  • Panama counts with one of the most complete logistic and multimodal centers of the world.
  • Retirees and pensioners can benefit from a special tax incentives, as well as flexible immigration programs.
  • Tourist investments have diverse exonerations related to import taxes on goods, raw materials and construction equipment, among others. Additionally, the investor will enjoy income tax and real estate tax exemptions.
  • Panama has a reliable system of communication with several optical fiber networks that communicate it with any country around the world.

 


TAX INCENTIVES: SPECIAL TOURISM DEVELOPMENT ZONES

  • Exoneration for twenty (20) years of the real estate tax over the land and the improvements, as long as the real estate is used for tourist activities.
  • Exoneration for the term of twenty (20) years of the payment of the import tax and the sales tax levied over imported materials, as long as those materials are not produced in Panama or do not have the same quality or are not available in the same quantity in Panama.
  • Exoneration for the term of twenty (20) years of the payment of any tax, contribution or encumbrances in regards to the use of ports, berths or airports built by the investor.
  • Exoneration for the term of fifteen (15) years of the income tax derived from the activity of the investor.
  • Exoneration for the term of twenty (20) years of the income tax levied over the interests received by the creditors in respect to operations directed to the investment in the tourist activity which will be performed by the company.

 

 TOURISM DEVELOPMENT ZONES IN PANAMA (see details)

 

Contact

María de Lourdes Marengo - mmarengo@pmalawyers.com
Khatiya Asvat P. - kasvat@pmalawyers.com