Incentives for affiliated users

Here are the incentives for those participating in the project under Executive Order # 6 of February 10, 1998, which states the basis for the Panamanian State's support to the City of Knowledge Foundation.

Tax Benefits

1. Exemption from all taxes, levies, fees or import duties on machines, equipment, furniture, vehicles, appliances or materials necessary for the operation of companies accepted into the City of Knowledge Technopark.
2. Exemption from Service and Personal Tangible Asset Transfer Tax (ITBMS) on machinery, equipment, vehicles, appliances and materials purchased or necessary for the operation of companies accepted into the City of Knowledge Technopark.
3. Exemption from any taxes, fees, duties or levies on overseas money remittance when such money remittance or transfer is done for the purposes of companies accepted into the City of Knowledge Technopark.
4. Innovating companies producing, assembling or processing high-tech goods or rendering similar services for sale in the local or international market at the International Technopark of Panama (ITP) will have the following benefits:
   
   
   1. Their activities, operations, transactions, procedures and transfers of personal and real property, purchase and import of equipment and construction material, raw materials, machinery, tools, accessories and supplies will be a hundred percent free of direct taxes, levies, fees, duties and national taxes. This includes income tax exemption for companies.
   2. Their capital will be free from direct national taxes, including patent or license tax.

Immigration Benefits

The State will grant special visas to foreign staff entering the country to contribute to the development of the City of Knowledge project. For further information, see the Immigration and Naturalization Bureau website.

Labor Benefits

Companies affiliated to the City of Knowledge are authorized to hire any international staff necessary for their operation.