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Panama's SEM (Multinational) Business Sector

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Panama: New Companies in the SEM Regime

JCB from England, Isuzu Motors Limited from Japan and China Railway International Group CO have set up under the conditions of the regime known as SEM (Sede de Empresa Multinacional or Site of a Multinational Company)

Friday, June 8, 2018

The Ministry of Industry and Commerce announced that from these sites companies will provide services to their subsidiaries in the region.

"... The JCB group, headquartered in England, is dedicated to the manufacture and marketing of heavy equipment for construction, agriculture, recycling and waste management, and power generation, among other things."

"... China Railway International Group CO from China, is engaged in the development of investment and investment management, technical transfer, import and export of technology and goods."


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New Rules for SEM Companies in Panama

Having a minimum of five full-time permanent employees is one of the requirements that companies must meet in order to obtain a Regional Offices of Multinational Corporations license, if a bill from the Varela administration succeeds.

Friday, July 27, 2018

The bill presented by the Ministry of Commerce and Industries (Mici) to the National Assembly contemplates, among other things, the new conditions that must be met by companies seeking to obtain a license as Regional Offices of Multinational Corporations (SEM by their initials in Spanish). In addition, it details a proposed law reform, under which companies must generate annual operating expenses in the country of at least $500,000.

From a statement issued by the National Assembly:

A bill, whose content base is to make more competitive the special regime for the establishment and operation of Regional Offices of Multinational Corporations (SEM), was presented the Minister of Commerce and Industries (MICI), Augusto Arosemena, in the plenary session.

The head of the MICI estimated that this regulation could increase foreign investment and consolidate Panama's logistics service platform and, at the same time would enable updates to be made which are required by international standards with the introduction of new requirements for obtaining an SEM license.

Read full article (in Spanish).



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More SEM Companies Arrive in Panama

So far this year, 17 new company licenses have been approved in the country under the Multinational Companies Headquarters regime, a figure that is higher than the 7 that were reported throughout 2018.

Thursday, November 7, 2019

In addition to the 17 companies that already obtained their licenses in 2019, there are 7 other companies that are in the phase of evaluation by the Commission of Headquarters of Multinational Enterprises of the Ministry of Commerce and Industry (MICI).

You may be interested in "New Rules for SEM Companies in Panama"

Tay Lin Chen de Recuero, General Director of Multinational Companies Headquarters of MICI, explained to Prensa.com that "... The amount of investments of the SEM companies, so far in 2019, is estimated at one billion dollars and the generation of more than 3 thousand 93 jobs, between foreigners and nationals."

The article adds that "... The Austrian Doka Group, Complant and JCDecaux are among the business groups that obtained their licenses last month. Between the three transnationals an initial investment of more than 2 million dollars is estimated."

Since 2007, 157 companies have been established in Panama under this type of regime.



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