Decrease in SEM Companies' Arrival in Panama
- Friday, January 11, 2019
See "New Rules for SEM Companies in Panama"
Prensa.com reviews that "... The Ministry of Commerce and Industries (MICI) reports the establishment of only seven SEMs by the end of 2018. These are big brands and important global competitors in the construction world, medical equipment and oil services. Although in quantity, they are much less than the 20 offices arriving in 2017 and the 25 arriving in 2016."
The article adds that "... The former Minister of Commerce and Industries, Augusto Arosemena, believes that 2019 will be a year of better achievements, precisely because it has clearer rules. Hence, so far in January, the certification of one SEM has been approved, while two others are on their way to achieving it, according to unofficial information confirmed by this newspaper.”
Source: Prensa.com
Source: Prensa.com
-
More SEM Companies Arrive in Panama November 2019
So far this year, 17 new company licenses have been approved in the country under the Multinational Companies Headquarters regime, a figure that is higher than the 7 that were reported throughout 2018.
In addition to the 17 companies that already obtained their licenses in 2019, there are 7 other companies that are in the phase of evaluation by the Commission of Headquarters of Multinational Enterprises of the Ministry of Commerce and Industry (MICI). -
New Rules for SEM Companies in Panama July 2018
Having a minimum of five full-time permanent employees is one of the requirements that companies must meet in order to obtain a Regional Offices of Multinational Corporations license, if a bill from the Varela administration succeeds.
The bill presented by the Ministry of Commerce and Industries (Mici) to the National Assembly contemplates, among other things, the new conditions that must be met by companies seeking to obtain a license as Regional Offices of Multinational Corporations (SEM by their initials in Spanish). In addition, it details a proposed law reform, under which companies must generate annual operating expenses in the country of at least $500,000. -
More Flexible Rules to Attract Foreign Companies September 2017
Within the conditions to operate under the Multinational Enterprise Headquarters regime in Panama, the requirement for a worldwide number of employees has been changed to instead include a requirement to have a presence in more than 40 countries.
From a statement issued by the Ministry of Trade and Industry: -
Panama: More Companies Under the SEM System June 2016
At the close of the first semester 13 new licenses will have been approved giving foreign companies the ability to operate under the Site of Multinational Corporation regime.
The companies that requested permission to set up in the country under the Site of Multinational Corporation (SEM) regime come from the United States, Denmark, Scotland and the Netherlands, among other countries, explained Trade Minister Augusto Arosemena.