The creation of the regimes of Headquarters of Multinational Companies (from now on referred to as “SEM”) and Multinational Companies for the Provision of Services Related to Manufacturing (from now on referred to as “EMMA”) have fostered the interest of investors in Panama thanks to the various tax, migratory and labor benefits that are granted to the companies covered under these regimes.
However, to streamline and simplify the management of procedures related to SEM or EMMA regimes, the Directorate of Multinational Companies of the Ministry of Commerce and Industries of the Republic of Panama has developed a digital platform to manage the procedures for obtaining the benefits provided by these regimes.
The new digital platform will begin operations on September 15, 2023, and, to commence with, it will allow the undertaking of the application for SEM or EMMA visas, thus eliminating the need to submit files in physical format to the Directorate of Multinational Companies’ Headquarters and opting for the digitization of files safely and transparently.
This innovation represents a significant leap towards the modernization and streamlining of the country’s business processes since, although the implementation of this platform will take place in a staggered manner, starting with the management of SEM or EMMA visas, it will soon, thereafter, allow the undertaking of other procedures including applications for Licenses of Multinational Headquarters SEM or EMMA, the updating of its records, the submission of the annual sworn statement and to carry out customs procedures.
Undoubtedly, introducing this new platform and its advantages in terms of efficiency, security, and transparency can attract investments and promote the country’s economic growth, achieving significant progress toward a more competitive and attractive business environment.
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