City of Knowledge is an international complex created and regulated through Law Decree No. 6 of 1998, in which the convergence of academic institutions and scientific investigation is promoted, as well as the cultural organisms dedicated to human resources formation, technology research and production, cultural exchange, and the creation of a technological park denominated International Techno-Park of Panama.
The headquarters of this international complex is located at the Panama Canal shore, in an area of approximately 120 hectares located in front of Miraflores Locks, where anciently the United States military bases of Clayton settled. This sector currently houses professors, students, scientists, intellectuals and innovative businessmen, to whom the logistic and legal conditions are supplied to favor its concentration, as well as ideas and knowledge exchange in several topics like telecommunications and tropical medicine, among others.
Since its creation, the mission of the City of Knowledge Project has been the creation of human resources formation programs, research programs, a forum denominated City of Knowledge Forum, as well as a technological park of innovation, nowadays called International Techno-Park of Panama.
In the execution of these projects, superior academic formation programs have been developed to the level of specialties, masters, doctorates and post doctorate courses of continuous formation. Besides the formation aspect, there is the constant generation of research activity, as well as the development of formation programs applicable to the industry and to the production of goods and services; at the same time that it fosters a space for the ideas, values and debate topics by means of the City of Knowledge Forum.
One of the most outstanding aspects of the City of Knowledge program is the International Techno-Park of Panama. Presently, it attracts foreign companies of advanced technological level, favors innovation, the technology transfer and promotes the creation of innovative companies. The International Techno-Park of Panama is not specialized in a specific technological or industrial sector. However, the activities that presently found a special welcome are the ones related to tropical medicine, marine resources and other activities related to maritime services, activities related to biodiversity, aquaculture, historic patrimony restoration, data processing, banking software and remote sensing, among others.
To promote the concentration of this kind of companies and activities in the City of Knowledge and the International Techno-Park of Panama, the Panamanian legislation offers the tax exemption in the matter of import and transfer of movables of those equipment, vehicles, machinery, devices and supplies that are necessary for the development of the project and also provide the exemption of any tax on the money transfers overseas done with project purposes.
Additional tax incentives are provided to the companies located in the International Techno-Park of Panama that produce, ensemble or process high technology goods or that provide services of the same nature. Thus, all types of taxes are exempt of their activities, operations, transactions, paperwork, transfer of movables and real estate, purchase and import of equipment, raw material, tools, accessories and supplies.
In migratory matter, the foreign personnel that enter the country as part of a Project of this nature, specially investigators, educators and technicians, will be provided by the State with special visas for them as well as their spouse, dependent children and students. Finally, the affiliated companies in the City of Knowledge are empowered to contract the international personnel necessary to carry out its tasks.