What is a free zone and what law regimes apply to a Free Zone as MIRAMAR Business Park & Global Services?
The Free Zone is an area of national territory, where goods that are entered are considered outside the national customs borders, regarding the import and export taxes and therefore are subject to special tax and regulatory framework. FTZs promote economic development and foreign investment in the country through employment generation, technology insertion, labor productivity and higher value-added products and services that are exported throughout the world. Companies are eligible for the Law of Industrial Free Zones and Trade for the case of manufacturing, assembly and trade, and the Law of International Services for the case of service sector companies, such as logistics operators, call centers , data centers, business contact centers, business processing outsourcing (BPO's) etc".
One hundred percent exemption from income tax, municipal tax, value added tax (VAT) and payment of import duties on machinery, raw materials and materials required for international activities which engage established firms in MIRAMAR Business Park & Global Services.
What kind of companies can be established at a Free Zone as MIRAMAR Business Park & Global Services?
Light manufacturing companies, retailers and service companies. We focus on high value-added operations.
What initial information is required by MIRAMAR Business Park & Global Services to evaluate the establishment of my company?
The timing depends on whether at the time you contact MIRAMAR Business Park & Global Services, there is infrastructure built available for lease or sale and which meets the specifications of your company. Starting from the premise that there is available infrastructure, the time to settle is short and depends on local authorities for processing permits. If there is no available infrastructure, it will take the time required for construction of facilities tailored to your needs.
In addition to leasing, can you purchase buildings or warehouses in MIRAMAR Business Park & Global Services?
Yes, you can buy them while remaining within the regimes of law that apply to Free Zones.
It can be done to anywhere in the world. There is natural benefit if the country where you are exporting your product or service has a trade agreement or bilateral free trade agreement with El Salvador, to do so as a tax-free introduction of the product or service to that country. El Salvador has many free trade agreements with countries or regions such as Central America, Mexico, United States, Dominican Republic, Panama, Chile, European Union, Canada, Taiwan, among others.
The regimes of law applicable to Free Zones as MIRAMAR Business Park & Global Services, allow companies to sell some of their products or services in the domestic market in El Salvador, by paying the corresponding taxes.
Prices vary depending on the type of infrastructure investors require. It is recommended first to provide MIRAMAR Business Park & Global Services with the information indicated in the answer of one of the previous questions in order to quote a price.
What kind of support does MIRAMAR Business Park & Global Services provides when establishing my business?
MIRAMAR Business Park & Global Services offers turn-key services, which in addition to helping with aspects of infrastructure, can recommend contacts to address: legal, tax, accounting, customs, installations (technical), international trading, migratory status of foreign technicians etc. We help with contacts with various governmental and private sector agencies.
The minimum wage ranges between $ 167.10 and $ 192.30 per employee per month, according to your business sector (maquila textile and apparel, industry, trade or services), plus additional benefits such required by law or at the whim of the company. Generally, companies pay salaries and benefits above minimum and its level would depend on what is required for the specific job.
El Salvador has a dollarized economy protecting the value of the investment against devaluing effect. Moreover, there is no obstacle to the repatriation of capital and legal frameworks exist to protect investors, such as the Law on Investment.