BARU FREE ZONE (BFZ)
Located in the Baru district, on the Pacific side of Chiriqui province, Baru Free Zone was created with the purpose of establishing a special tax and customs regime to promote tou
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rism, a logistic multimodal system, export processing zones and petroleum development area. Baru has an area of 588.7 sq. km. and population of 60,551 inhabitants. It is divided in 5 small villages, which are eager to develop the economic potential of the area. Baru Free Zone meets the requirements to be a dynamic place for business.
INCENTIVES AT BFZ
A special and simplified procedure for the establishment and operation of a manufacture zone to export, which enables the creation of large factories to export a huge variety of goods.
Exemption of payment of the income tax, patents, licenses and tax on other goods or capital.
Exemption of the import tax of raw or semi-elaborated materials, construction materials, equipment, furniture, accessories, appliance, or services that will be used in the operation of the company.
Exemption of the consumption tax (ITBM)
Exemption of tax on interests, bonds and stocks.
Exemption of exports tax.
Issuance of one-year-valid resident merchant visa to perform transactions or business, which is also applicable on equal terms to spouse and children of the applicant.
Use of multiple reentry permit until visa expiration date.
For more information how to benefit from Free Trade Zones contact consultants Lombardi Aguilar Group http://www.laglex.com
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La Zona Franca de Barú es una institución con personería jurídica propia y autonomía en su régimen interior, en los términos que establece la Ley 19 de 04 de mayo de 2001, y su finalidad es desarrollar toda la organización operativa y gestión administrativa necesarias para que se realicen operaciones, transacciones, negociaciones y una amplia gama de actividades comerciales, turísticas, industriales y de servicios, en el distrito de Barú, provincia de Chiriquí, bajo el Régimen Fiscal y Aduanero Especial de Zona Franca Turística y de Apoyo Logístico Multimodal.
Para beneficiarse de las Zonas Francas contacte a los consultores Lombardi Aguilar Group http://www.laglex.com
