The new Law for the Promotion of Innovation and Technological Manufacturing came into force in El Salvador on June 5.
This new law establishes benefits for technology investors, among them, the exemption of income, property, capital gains and import duties on the creation of software and hardware, for a period of up to 15 years.The law aims to promote El Salvador to become a leader for:
The development of advanced technology manufacturing in Latin America.
Expand and diversify the Salvadoran human talent for technological manufacturing.
Develop, scale and promote education and training in advanced technological manufacturing, strengthening connections between employers and educational organizations.
Improve supply chain access and interconnections and expand efforts to reduce supply chain vulnerabilities for technological innovation and manufacturing.
Strengthen and revitalize innovation, technology manufacturing and commercialization ecosystems.
Tax incentives require a current Qualification Agreement issued by the Ministry of Economy.
This new law is raising expectations in the investors of innovation and technology and are making them consider El Salvador as a hub for manufacturing under a bunch of benefits.
For further information, you may reach the firm at [email protected] or directly to:
Piero Rusconi B. [email protected]
Francisco Murillo [email protected]
Fernando Argumedo [email protected]