Aguadulce Special Economic Zone and the Multipurpose Terminal

The Aguadulce Special Economic Area (ASEA) will be located in the district of Aguadulce, province of Coclé, and will cover an area of 1,758 hectares, all of which are owned by the Panamanian State.

The Aguadulce Special Economic Area Agency will be the entity responsible for managing, promoting, and implementing the policies, strategies, and programs necessary for the development and operation of this special economic zone, aimed at strengthening the country’s logistics, industrial, and services competitiveness.

Permitted Activities

Within the ASEA, wholesale import and export of finished products is permitted, as well as the provision of services, including:

• Ship chandling and other auxiliary maritime services to vessels.
• Export of products by air through airports located in the central provinces.
• Commercialization of products manufactured by companies that produce finished goods within the area.
• Activities related to aircraft maintenance, repair, conversion, and reconversion, as well as related services.
• Transport logistics and associated services.
• Manufacturing and industrial processing.
• Agro-parks and agro-industry.
• Nearshoring and business services.
• Food hub and ethanol hub.
• Science and technology park.

Legal Framework

The ASEA is governed by the following legal framework:

• Law 309 of June 1, 2022
• Law 388 of July 5, 2023
• Executive Decree No. 6 of 2024, which regulates Law 309

Benefits and Operating Regime

Companies established within the ASEA may benefit from different regimes and licenses, such as:

• Headquarters of Multinational Companies, Law 41 of August 24, 2007 (SEM).
• Multinational Company for the Provision of Manufacturing-Related Services, Law 159 of August 31, 2020 (EMMA).
• Agro-park Operating and Development Companies, Law 196 of February 8, 2021.

Additionally, companies must develop Corporate Social Responsibility programs or projects, primarily focused on education and environmental conservation.

The ASEA will have an automated control system for monitoring the entry and exit of goods and inventories. Companies will be required to keep a detailed record of the entry, exit, transfer, and transformation of goods, products, equipment, and other assets they own.

Goods introduced into the area may:

• Be exported outside the country.
• Be transferred to other zones with special tax treatment.
• Be sold to visitors and passengers in transit using the Aguadulce Multipurpose Terminal.
• Be commercialized to aircraft operating from Panamanian airports to international destinations.

In the case of movable goods entering the Panamanian fiscal territory, ITBMS and the corresponding import tax must be assessed and paid. Likewise, the development of housing projects will be permitted within the ASEA.

The Multipurpose Terminal will allow the operation of all types of cargo and will be enabled to provide cruise services and international passenger transportation. Its construction, maintenance, and operation will be carried out under a concession regime, promoting private investment and port development in the country’s central region.

Immigration Regime

• Foreign nationals hired by companies established in the ASEA must apply for and obtain a residence and work permit specific to the area.
• Foreign nationals who can demonstrate a minimum investment of B/.300,000.00 in the venture capital of a company established in the ASEA may apply for Permanent Residence as an Area Investor before the National Immigration Service.
• This permit will allow residence in Panama and within the ASEA for an initial period of two (2) years. Upon completion of this period, the investor may apply for definitive permanent residence, with the right to a personal identity card, in accordance with the procedure established in Decree Law 3 of 2008.