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The Investment Stability Law (Law No. 54 of July 22, 1998), guarantees all foreign and national
investors equal rights in terms of investments and business practices,
continuing Panama's quoted long-standing policy of providing a
foreign-investment environment that requires no special authorizations,
permits or prior registration.
This law provides ten-year stability as of the registration of
the investment that all legal, tax, customs, municipal and labor
rules will remain identical to those in force at the time of registration. This
is an important guarantee to secure no-changes will affect the amortization
of investments. TeleRepsUSA proudly covets its Call Center License
and fully enjoys all the bestowed benefits.
Traits such as Panama’s positive
position for long term investments means that Panama represents
a stable environment for meeting TeleReps’ clients’
service needs. The Panamanian government has taken significant steps
to encourage the growth of their Call Center Industry. Since 1992,
Call Centers have been classified as tax-advantaged Export Processing
Zones, and since 2001, all call centers’ telephone traffic
is excluded from the tax imposed on all other international calls
from Panama. As a result, the boom in the Call Center Industry in
Panama began in 2001, and since 2003, there has been an annual employment
growth of 5.2% in the Communications sector.
One of the most important
attractions of Panama is the U.S. dollar-based economy. The country
uses the U.S. dollar as its legal tender, thereby eliminating any
currency exchange risks to foreign companies operating here. The
country has maintained an annual inflation rate of fewer than two
percent for the last 40 years, and just 2.3 percent in 2005. Panama's
economy has become one of the healthiest in Latin America, in spite
of the other Latin American economic crises. |