The Colon Free Zone, better known as Zona Libre Panama to the Latin Americans, is the second largest tax free zone in the world after Hong Kong.
What is a Tax Free zone?
It is a geographical area that allows companies located in this zone to import and export products without paying any duties. This allows products to stay competitively priced when it arrives at its final destination.
More information about Panama
The Republic of Panama is located in Central America. The border countries are Colombia and Costa Rica. The population is approximately four million people. Although it is a small country, it is one of strongest economies in Latin America as it is strategically located as the doors to the region. The language that is spoken is Spanish but there is a large English speaking community. The Republic of Panama also enjoys economic stability thanks to the use of the US dollar as its legal tender which fluctuates less than other currencies in the region. A large banking center, a strong insurance industry and high tech ports also contribute to the success of this zone. It is also the home of the famous Panama Canal which allows ship to cross from the Pacific to the Atlantic and vice versa in less than one day. This saves a valuable amount of time and money.
Advantages of buying from the Zona Libre Panama
It is strategically located thanks to the Panama Canal which is often referred to at the crossroads of the world.
*Largest and most important tax free zone in the Americas
*Second largest Tax Free Zone in the world after Hong Kong
* 450 hectares
*2500 wholesale companies
*300 000 buyers every year
*Over 25 000 employees
*14 billion import and exports every year
The expansion of the Panama Canal is expected to be finished by 2014. This will allow Post Panamax ships to cross the gateway and will surely help make the Zona Libre Panama even more dynamic.
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