Find work in Panama
Republic of Panama — 4.4 million people, Panamanian Balboa / US Dollar (PAB), Spanish. Full employment compliance handled for you, paid every Friday.
Capital
Panama City
Population
4.4 million
GDP / capita
$17,400
Currency
PAB
Panamanian Balboa / US Dollar
Time zone
UTC-5 (EST)
Working in Panama: what to expect
Key employment law provisions that affect your engagement. Corpshore handles compliance so you don't have to navigate this alone — but knowing your rights matters.
Standard workweek
48h max
48 hours (daytime) / 42 hours (mixed) / 36 hours (nighttime)
Annual leave
10 public holidays
30 calendar days after 11 months
Maternity leave
14 weeks (6 before + 8 after), fully paid
Paternity leave
3 days
Notice period
30 days
Severance
Seniority premium: 1 week per year. Indemnity for unjustified dismissal: 3.4 weeks per year.
Overtime rules
25% premium (daytime), 50% (mixed), 75% (nighttime). Sundays and holidays: 150% premium.
Probation period
Not formally recognised in the Labour Code
Tax landscape in Panama
Indicative tax ranges for general orientation. Always consult a qualified tax advisor for your specific situation. Tax year: Calendar year.
- Income tax
- 0% to 25%
- Corporate tax
- 25%
- Social contributions
- Employer: ~13.5% (CSS). Employee: ~9.75%.
- VAT / GST
- 7% (ITBMS)
Treaty network
~20 tax treaties
Your fee is always zero
Corpshore charges the hiring business, never you. You receive 100% of the agreed rate, regardless of tax jurisdiction.
How you get paid in Panama
Panama uses USD alongside the Balboa (pegged 1:1). Dollarised economy simplifies international payments. Strong banking sector (Panama is a major financial hub).
Bank transfer
Wise
Settlement
Every Friday
No net-30 waits, no chasing invoices
Platform fee
Zero, forever
The business pays Corpshore, never you
Currency
PAB
Local currency where supported
Regulatory landscape in Panama
Corpshore manages compliance so you can focus on the work. Here's what shapes the regulatory environment for workers in Panama.
Worker classification
Labour Code broadly defines employment. Contractor arrangements exist but face scrutiny.
Data protection
Law 81 of 2019 (Personal Data Protection). National Authority for Transparency and Access to Information oversees.
Right to work
Work permit required. Employer must ensure 90% Panamanian workforce (with exceptions).
Non-compete enforceability
Limited enforceability. Must be compensated and limited in scope.
Collective bargaining
Protected under the Labour Code. Unions active in construction, transport, and public sector.
Working culture in Panama
Business culture
Business-oriented and cosmopolitan, influenced by the Canal's international history. Relationships matter but deal-making is direct.
Key industries
Talent pool strengths
Historical context
The Panama Canal, opened in 1914 and expanded in 2016, handles 5% of global trade. This strategic position made Panama a natural hub for international banking, logistics, and legal services, giving it one of Latin America's highest per-capita incomes.
At a glance
- Official name
- Republic of Panama
- Languages
- Spanish
- Time zones
- UTC-5 (EST)
- Data region
- Americas
Open roles: Panama and remote
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