IFZA launches new Free Zone in Panama
The new Free Zone in Panama City marks IFZA's first physical presence in Latin America and reinforces its commitment to fostering global entrepreneurship and interconnected business ecosystems.
In a significant move, the Government of Panama has officially granted IFZA a licence to operate a Free Zone in the country. This initiative will allow IFZA to bring its proven model of growth-oriented, investor-friendly infrastructure to Latin America.
Panama, often referred to as the 'hub of the Americas', shares many synergies with Dubai. It is a vibrant trade and financial centre, home to over 60 local, regional, and international banks. Its strategic location - bridging North and South America - combined with the Panama Canal and a globally connected air transport network, makes it an ideal location to support nearshoring strategies and international expansion.
'Our expansion into Panama is a natural extension of IFZA's global growth strategy,' said Martin G. Pedersen, Chairman of IFZA. 'Panama's strategic geographic position, robust banking system, modern infrastructure, dollarized economy, and business-friendly regulatory framework make it an ideal partner for our next chapter. We are deeply committed to working collaboratively with the Panamanian government and local stakeholders to create shared economic value.'
Demonstrating a strong commitment to global compliance standards, Panama was removed from the FATF grey list in 2023 and from the EU's list of high-risk countries in 2024, a development that further boosts its appeal to international investors.
The Free Zone will serve as a mixed-use hub supporting a broad range of industries, including professional services, technology, logistics, trading, software, and industrial sectors.
'Business has a superpower to connect people, cross borders, and breakdown barriers,' commented Jochen Knecht, CEO of IFZA. 'Through IFZA Panama, our goal is not merely to open a Free Zone, but to build a bridge between Latin America and the UAE, enabling businesses to expand with confidence and shared purpose.'
With a track record of supporting over 60,000 businesses across its global ecosystem and presence and partnerships in more than 50 countries, IFZA is uniquely positioned to attract substantial foreign direct investment into Panama.
Companies operating within IFZA Panama Free Zone will benefit from significant fiscal advantages, including exemptions from corporate income tax, import duties, and VAT - making it a powerful base for global trade and expansion.
In addition, businesses establishing themselves in the Free Zone will gain access to a comprehensive, end-to-end suite of services, including: Company formation and incorporation; visa and immigration assistance, including family sponsorship; office and workplace solutions; corporate banking support; accounting, tax registration, and advisory; and relocation guidance for real estate, schools, and lifestyle needs.
The Free Zone will align with Panama's national economic vision, contribute to job creation, and position the country as a competitive, innovation-led hub in the region.
Beyond its physical footprint, IFZA's goal is to identify high-potential opportunities across Latin America and tailor its Free Zone model to lower entry barriers, ensure compliance, and accelerate business growth. At the same time, the initiative will create opportunities for Latin American companies to access the UAE and broader Middle Eastern markets, including Africa, India and Pakistan.
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