Objectives and Definitions

Panama Teleport Smart Business City is a private free zone and a real estate development, conceived to provide a high competitive operational base, including efficient 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 zones that currently prevail around the world. These concepts are:

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 versatility, quality, 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.

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.

A complete private hi-tech telecommunications system, including earth stations, ISDN, intelligent networks, etc. is planned using reliable, low cost and competitive alternative. The speed, quality, diversity and maximum efficiency of voice, image and data transmission services guarantee 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.

One section of the zone has been reserved for scientific and technological research. It serves two purposes: 1.- To 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 a high-technology environment. 2.- To provide the firms established in the zone with a permanent source of technological information and assistance.

The strategic position of PANAMA TELEPORT EXPORT PROCESSING & FREE TRADE ZONE, located 400 meters from the runway of the Tocumen International Airport (the most secure of the region) and in the middle of the American Continent, makes logic the development of a centre of repair, maintenance and support services to the international aviation.

The services to be provided in this Center are:

1. Maintenance, repair, painting, cleaning, technical inspection, etc., for all type of commercial, private and military aircrafts from all countries of the world.
2. Supply and distribution of pieces, parts, accessories, materials and any element required to the good operation of aircrafts.
3. Fuel and lubricants supply to aircrafts and ships.
4. Ship chandlers’ supplies for crew and passengers of any type of flight: commercial, private and military.
5 Personal services and lodging to the crews and personnel in duty.
6. Operative support services for airlines, companies and organizations.
7. Security services in all its scopes.
8. Assembly of aircrafts pieces, parts and elements.
9. Representation services for aircrafts sales.
Companies of all parts of the world, specialists in this type of services to aircrafts will be able to settle down in this Center, in association or not, with Panama Teleport. There is a special interest in aircrafts manufacturing companies, as well as, manufacturers of aircrafts motors, parts and accessories (Boeing, Airbus, Lockheed, Rolls Royce...). The objective is to count on updated technology and the necessary quality guaranties for the benefit of these services.

·         International Containers Harbour & Containers Manufacturing, Maintenance & Repair plant.

Panama Teleport is located 4 kilometres from the coast on the Pacific Ocean and 30 Kilometres from the pacific entrance of the Canal. The area over the coast is available to build a large international harbour with full capacity to compete with other ports in the Pacific ream. This project includes facilities to provide repair, maintenance and support services to civilian and military ships. It includes also a plant to manufacture, maintain, painting and repair containers.

Law 25 of Export Processing Zones authorizes EPZ’s to build and operate a port. Panama Teleport is the most strategic place to develop a multimode centre of transports, storage and export-import services.