Achieve Financial Success With Investment in Pacific Panama
Panama has lately become one of the ideal destinations for people looking for financial privacy without any personal or commercial taxes. Panama has a better financial shape than most other Central American neighbors. Annual inflation rate has not been more than 2% for the last 30 years. Panama Canal is its wealth, as it generated $630.8 million of total revenue, in 2001 alone, and the number remains approximately constant all through. If you are also looking forward to invest your money in Panama, then you should know about it in detail.
How to gain tax advantage by investing in Panama
The Panama government has started several special zones and attractive programs to attract foreigners to invest in its shores. If you want to achieve success with your investment, try to gain advantage of such offers before they last. You can capitalize on several opportunities here, including starting up a guest house, resort, eco-tourism project, property development, forestation project, charter dive operation, boat-repair outfit etc.
Gain enormous benefits with small Panamanian investments
Law no. 8 was passed in Panama in the year 1994, which aims at promoting investment in tourism in Caribbean and Latin America. After this, several reputed hotel chains opened their endeavors in the country. Not only this, you can gain huge financial incentives and tax benefits by investing a small amount on Panama tourism, even as little as $50,000. You will be exempted from any import taxes for 20 years, that might be due on equipment, furniture, materials, vehicles etc. You will gain 20-year exemption from real estate taxes too for different assets of your enterprise. No tax will be levied on you for the use of Panama piers and airports. If you open a tourism related business in Panama’s tourist zone, then you will receive income tax exemption too for 15 years.
Law no. 9 creates great investment incentives for people interested in developing property in Casco Viejo, the Old City in Panama City. For example, you will not need to pay any income tax on any rental or sale income you make from your property for 10 years. 100% renovation costs can also be deducted from your income tax. No property tax will be levied for 30 years, and there will be no transfer taxes on properties costing more than $50,000.
With all these benefits being offered by the Panama government to attract financial investments in Panama, you cannot afford to let them go.
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