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How to Start a Business in 15 Minutes
http://www.internationalliving.comMonday, Aug. 27, 2007Panama City, Panama
Last month, a new law went into effect, making it quicker and easier to open a
business in Pamama. It’s known as “law number five” (in Spanish, Ley 5 del 11
de enero de 2007) and reduces the amount of paperwork required to open a
business. All you need is a computer and an e-mail address to get most any
business up and running via the new system, called Panama Emprende (Panama
Ventures).
Representatives from the Chamber of Commerce and Government Innovation
Secretariat (SIG) say the new process is very secure and increases transparency
in Panama (by eliminating some of the “middle men” who may be tempted to ask
for bribes). David Saied, head of the Finance Ministry (MEF) Public Policy
department, says the online registration process takes 15 minutes and there are
just five screens to navigate.
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Simply visit https://www.panamaemprende.gob.pa and follow the instructions.
Among other things, you must enter your cédula (national ID number), address,
and other company information, indicate the type of business, and check the
online reference to find out whether you must pay a Tasa de Aviso de Operación
(notice of operation fee) of $15 or $55. The fee, if applicable, can be paid
online via Banco Nacional de Panamá (National Bank of Panama, or BNP) or via
credit card.
Under the new law, an Aviso de Operación (Notice of Operation, or AO) obtained
via Panama Emprende substitutes commercial licenses for many businesses.
Questions? You can call the Ministry of Trade, or MICI, at tel: + (507)
507-MICI (6424).
Potential business-owners without computers can go to the MICI and use one of
the computers available just for this purpose. Once a business is registered
online, the MICI will visit and inspect it to ensure that the details reported
online are correct. Certain types of business are barred from using the online
system, as more rigorous registration processes are required. These exceptions
include transportation companies, establishments that serve liquor, casinos and
gaming companies, hospitals and clinics, government concessions (like port
installations), and companies in the media, banking, real estate, insurance, or
telecommunications industries.
The Panama government says the new program cost $250,000 and puts the country
at the number 26 spot for ease of opening a business on the World Bank’s “Doing
Business” index. The administration said in July it hoped to see 1,500 new
businesses open with Panama Emprende by the end of the year. By Aug. 15, the
goal had already been surpassed--some 2,132 businesses have already used the
system to obtain their notice of operation. The new businesses encompass a wide
range of services, from car repair shops to beauty salons, and represent the
creation of at least 4,000 new jobs.
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