Panama continue growing in Multinational Companies Headquarters

Panama Investment

Panama and its proposal for a Multinational Companies Headquarters (SEM) continues to grow and now four new companies are incorporated from Europe and the Caribbean, with more than US $ 5 million in investment.

Companies, originating from the Cayman Islands, Switzerland and the Republic of Ireland, were approved by the Licensing Commission for Multinational Companies Headquarters (SEM), attached to the Ministry of Commerce and Industries (MICI), to establish themselves in Panama, with a joint investment over US $ 5.1 million.

These companies, dedicated to activities such as financial services, consumer goods and personal care, insurance and reinsurance and the sports industry, will also contribute to the generation of more than 150 jobs for nationals and foreigners, informed Jeannette Díaz Granados, General Director of SEM.

With these new multinationals, there are already 9 companies that enter under this regime so far in 2021.

"Since its creation, more than 170 business groups have registered their regional headquarters with this license, being the manufacturing, technology and engineering sectors the ones that stand out for concentrating the largest number of registered SEM companies," explained Díaz Granados. The United States tops the list of countries with the most established companies, followed by China, Switzerland, the Netherlands and Germany.