Panama Teleport -- Smart Business City

Objectives and Definitions


Panama Teleport Smart Business City is a private free zone and a real state development, conceived to provide a high competitive operational base, including eficient infrastructures, advanced installations, administrative support and high-tech services, to local and foreign companies looking for the rigth place to penetrate successfully the regional and the global markets.

The attractiveness of the zone is based on its full and permanent exemption of all type of taxes. The U.S. dollar as legal currency, the boundless capital circulation --without controls, limits or taxes--, the access to the International Banking Center, the ability to use any type of bank account system --without taxes and protected by banking secrecy--, and the special immigration status for foreign investors are some of the additional factors that increase the value and attractiveness of this project.

Panama Teleport integrates, within one complex, four concepts of specialized zone that currently exist around the world. These concepts are:

Export Processing Zone of Goods and Services

This concept means that the zone is being structured and managed to guarantee optimal conditions for processing export goods and services. The diversity, quality, and costs of the support services --as the quality, versatility, and cost of building space-- will allow the zone and the firms established in the zone to constantly improve their capacity to compete in the global market. One specific sector of the zone is designed for the establishment and operation of : 1.- Industrial companies involved in manufacturing, assembling and processing of goods whose final destination is the international market. The main interest is focused on hi-tech industries, including electronics, bio-technology and superconductors. 2.- Companies involved in the production and processing of all kind of services whose users are located worldwide. Information processing activities (data banks, data entry, data processing, software production and translation, etc.) are the main target.

International Business Park

Large office space availability, complemented with hi-tech facilities, comfort, and operative support, is being developed for firms specialized in worldwide business operations. The concept of Panama Teleport is mainly oriented toward Off-Shore businesses and services. Most of the Zone's promotion efforts is targeted towards the attraction of large, medium and small companies operating in areas of banking, financing, international trade, overseas management, international stocks exchange, insurance, re-insurance, brokerage, futures markets, management, consulting, and all international business operations. At the same time, the Zone is being promoted as the most advanced Office Relocating Center in Latin America. This configuration, complemented with the 100% tax free zone status( including securities issue and earnings and interests earned in bonds issued within the Zone); the total free enterprise operation system; the foreign investment protection disposition; the special immigration regime and the special labor regulation accorded to the EPZ`s, by the Panamanian law, will allow the Zone to become a permanent and one of the most important export markets and international business center of the American Continent.

Advanced Telecommunications Zone

A complete private hi-tech telecommunications system, including earth stations, ISDN, inteligent networks, etc. is planed using reliable, low cost and competitive alternative. The speed, quality, diversity and maximum efficiency of voice, image and data transmission services guarantees competitiveness in international markets for the firms established within the zone.

The strategic position and advantages of the zone, provide a unique platform to develop the area as an International Telecommunication Hub. The proximity to the Pacific Ocean, in an area of low navigation activity, facilitates the installation of operation centers for submarine cables.

Satellite owners and operators can also benefit, from the zone's advantages and opportunities, by establishing their operations within the zone.

Scientific and Technological Research Zone

One section of the zone has been reserved for scientific and technological research. These activities serve two purposes: 1.- Attract scientific and technological research firms and institutions, so they can benefit from the substantial cost reductions based on the following: low cost of highly skilled Panamanian human resources (with degrees from American and European universities.), access to immediate raw materials, and low rental costs of laboratory space and research plants. All these in high-technology environment. 2.- To provide the firms established in the zone with a permanent source of technological information and assistance.


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