ALCA FTAA ZLEA - Investment : Transfers - Panama/United States

Free Trade Area of the Americas - FTAA

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Investment Agreements in the Western Hemisphere: A Compendium

Agreement Between Panama and the United States
27 October 1982

Subject: IV. Transfers

A. Types of Payment

1. Returns
Yes. Each Party agrees, with respect to investment made within its territory by nationals or companies of the other Party, that current and capital transactions shall remain unrestricted and that payments and other transfers with respect to such transactions shall continue to be free. (Article VI).

2. Repayment of Loans

3. Proceeds of Total or Partial Liquidation of an Investment

4. Licenses and Other Fees

5. Other Categories of Payments

B. Convertibilty and Exchange Rates

2. Exchange Rates

3. Time of Transfer
The Parties agree that Article VI does not preclude the United States from maintaining laws and regulations (a) requiring reporting of currency transfers into or out of the United States or (b) imposing income taxes by such means as a withholding tax applicable to dividends or other transfers. Furthermore, either Party may protect the rights of creditors or litigants, or ensure the satisfaction of judgments in adjudicatory proceedings, through the equitable, non-discriminatory and good faith application of its laws. (Paragraph 5 of the Agreed Minutes).


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