Ciudad del Saber in Panama
Overview
Panama is an attractive destination for investors thanks to the laws and regulations that allow companies to establish operations in special areas which provide many unique fiscal, migratory, and labor incentives, also known as special regimes.
Ciudad del Saber was created by Law 6 of February 10th of 1998, as a knowledge platform to focus on enhancing the innovative and competitive capacities of users in this area.
This community includes academic organizations, technology companies and non-governmental organizations. The complex is run by the Ciudad del Saber Foundation, a private non-profit organization created in 1995.
This special-regime area has laws and regulations allowing local and foreign investors to establish companies in the area with the objectives of developing different kinds of activities and of promoting international trade, manufacturing and complimentary services.
The international companies and organizations established in Ciudad del Saber focus on information and telecommunication technologies (TICs), biosciences, environmental studies, human development, global services, business management and entrepreneurial culture.
Benefits
Organizations operating in Ciudad del Saber enjoy benefits such as:
- Quality infrastructure
- Telecommunications, computer and educational technology services
- Complementary services of accommodation and food
- Sports and recreational facilities
- Access to the main centers of higher education and scientific research in the country
Also, activities affiliated within Ciudad del Saber are exempt from:
- Import taxes
- Taxes to remittances or transfers abroad
- Good and services transfer tax
- Local direct taxes in its capital, including taxes on patents and licenses
- Income taxes, if the organization produces, assembles or processes high technology products
Besides, organizations that establish operations in Ciudad del Saber enjoy special Immigration and labor incentives. For example, special visas for foreign employees of affiliate companies and for their families, and the ability to hire foreign personnel necessary to carry out the work of the company.
Becoming a member
The initial step to become a member of Ciudad del Saber requires filling an online form in CiudadelSaber.org The form requires information about the applicant, such as common and legal name, website, purpose, establishment year, activities, goals, and reasons to be part of Ciudad del Saber.
Once the application is submitted, the application is reviewed and next steps are communicated to the applicant.
Contact us
Our team at Kraemer & Kraemer can provide you with the legal advice and assist you with the process of becoming a member of Ciudad del Saber. Send us a note to info@kraemerlaw.com and we will be glad to answer all your questions.
