PANAMA: NICHE MARKET FOR FOREIGN COMPANIES
International companies, focused on activities related to financial services, consumer goods and personal care, manufacturing, logistics, technology, insurance and the sports industry, among others, are targeting Panama as a venue. More details in this interesting article.
The generation of more jobs, both for nationals and foreigners, is one of the many attractions that this great country is experiencing, not only to emerge as a nation but also to offer multinationals and foreign companies the opportunity to establish their offices and strategies as a base for growth.
A group of companies from Switzerland and the Republic of Ireland, as well as from the Cayman Islands were approved by Panama’s Multinational Headquarters Licensing Commission.
With these new multinationals, there are already 9 companies that have entered under this regime so far in 2021. The United States tops the list of countries with the most established companies, followed by China, Switzerland, the Netherlands and Germany.
The General Director of SEM de Panamá, Jeannette Díaz Granados, commented that since its creation, more than 170 business groups have registered their regional headquarters under license from Panama’s Multinational Headquarters Licensing Commission.The manufacturing, technology and engineering sectors have the largest number of registered SEM companies.
Learn about the Emma Law in Panama
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According to the Ministry of Commerce and Industries (MICI), a SEM company can be defined as: “a multinational company that from Panama carries out operations aimed at offering the services defined in this Law to its Head Office or to its subsidiaries or to its affiliates or associated companies, or that establishes its Head Office in Panama, hereinafter referred to as the Business Group. The Head Offices will always be part of multinational companies with international or regional or important operations in their country of origin.”
The companies will make a joint investment of over US$5.1 million, according to information provided by the Ministry of Commerce and Industries (MICI).
Grupo Tribaldos has projects and logistics platforms that are perfect for large international companies that want to set up their operations and export to other countries from Panama.
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