IFZA Panama: The New Free Zone Model That is Committed To Startups and Modern Services

In an interview, Markus Raiser, general manager of IFZA Panama, explained that the proposal breaks with the classic scheme of free zones focused on logistics, manufacturing or large multinationals.

“Normally the free zone focuses on logistics or production. We have a clear focus on service companies,” he said.

The heart of IFZA’s model is to attract companies in professional services, marketing, social media, technology, fintech, cryptoassets and commercial companies that seek to establish sales offices for Latin America and North America.

The most marked differentiator is its commitment to startups and small and mediumsized enterprises. “We also focus on SMEs and entrepreneurs that do not have large departments dedicated to internationalization. We want to be your partner in that process,” Raiser said.

This approach, he added, is aligned with the national strategy to promote the export of modern services and generate more specialized jobs.

IFZA not only offers the incentives of a free zone regime, but also comprehensive support throughout the installation process in Panama.

The entity supports the incorporation of the company and the Single Taxpayer Registry (RUC), the processing before the Ministry of Commerce and Industries (MICI), the management of residences for owners or managers, as well as virtual office solutions, coworking and personalized spaces. It also provides access to meeting rooms, video conferencing, reception, administrative services and connection with banks and legal, tax and labour advisors.

“Our concept is that the customer focuses on their business. We assume the administrative burden,” Raiser explained. In addition, it promotes an ecosystem that includes accounting services, market research and, in cooperation with local law firms and corporate service providers, providing support on legal, tax and labor issues.

Likewise, IFZA is absolutely open to working with all existing experts such as lawyers, tax and financial advisors who already today support clients to settle in Panama.

One of the pillars of the model is the digitalisation of processes. Through its electronic portal, the customer can complete the establishment of their company online, with clear traceability of documents and requirements.

According to Raiser, this innovation made it possible in Dubai, where IFZA developed part of its experience, to set up companies in a few days, thanks to the electronic connection with government entities and the elimination of physical procedures.

The objective in Panama is to promote greater agility and modernization in coordination with local authorities. In the short and medium term, IFZA plans to attract investors who use Panama as a platform to operate in North and South America.

The impact, according to Raiser, would not only be direct – with new companies and high-end jobs – but also indirect and induced in sectors such as housing, services, restaurants, transport and professional consultancies. “International experience shows that a hub of modern services energizes the entire economy,” he said.

According to the general manager, IFZA evaluated different countries before choosing Panama as an expansion point. Among the determining factors, he mentioned the strategic geographical position, connectivity and logistics tradition, regional stability, the use of the dollar, the legal framework of free zones with tax incentives and quality of life.

However, he acknowledged that one of the main challenges is to improve international knowledge about the real advantages of the country. “Panama has a lot of potential, but many companies don’t know it. We want to help tell that story,” he said.

IFZA seeks to position itself as the ally of executives who plan to expand their companies in the region.

With a model focused on modern services, digital processes and comprehensive support, IFZA Panama aspires to promote a new generation of more agile free zones adapted to the global economy.