Companies are attracted by the benefits attached to them. The ICIM will expand the range of opportunities to these companies
Six new companies are interested in opening offices in Panama under the SEM system, unveiled Jonathan Diaz, CEO of Multinational Corporations, the Ministry of Commerce and Industry of Panama (MICI).
Currently, Panama has 122 companies established under the SEM rules, motivated by the advantages granted to them. Of these, six were approved in January this year and five in February, confirmed Diaz.
Law 41 of 2007 defines an SEM company as multinational company that operates from Panama aimed at offering the services defined in this standard to its parent company, its subsidiaries, affiliates, associated companies, or set your house in Panama.
New law
Due to the evolution of the current standard, the MTI has a proposal to attract further foreign direct investment (FDI).
Therefore, seeks to expand the range of opportunities under a similar legal framework, to expand business activities such as production, manufacturing and labeling, creating a new law, Diaz said.
CEO’s statements were given during Expocomer 2016, SEM-forum Business Opportunities, Present and Future.
Meanwhile, Deputy Foreign Trade Minister Nestor Gonzalez, said the aim of the forum is to capture the presence of hundreds of companies from Brazil, Argentina, El Salvador, Israel, South Korea, India, Mexico, among others.
The proposed new rules work began from mid-2015; however, Diaz expected in the first half of this year has advances.
Among the tax benefits received by SEM is the exemption from income tax, exemption from dividend tax and complementary tax and the use of equipment. In addition, the possibility of tax treaties.
Another thing that you are not asked for these businesses is the ability to obtain registration of legal stability for investment.
Logistics companies, technology, energy, consumer goods, medicines, construction and finance are part of the group of companies that offer from the isthmus administrative support services to its subsidiaries in the world.
In order to belong to the SEM, the primary requirement is that the business group is established in several countries, in addition to consolidated financial statements in the past the more than $ 200 million in assets sum.
Another ICIM requirements is that companies remain in Panamanian territory administrative, financial management, in addition to part of marketing and human resources.
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