Recent news
Latest items of recent news relevant to Panama as reported in our fortnightly newswire ‘Dernières nouvelles’.
Panama: Multinational staff visas
From 23rd July 2024, foreigners applying for a multinational company HQ permanent staff visa (“SEM Visa”) have been no longer subject to the exemptions necessitated by the COVID-19 State of Emergency …
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Panama: Urgent need to raise productivity
In its Mission statement earlier this month, the International Monetary Fund (IMF) pointed out that “about three quarters of the improvement in Panama’s income level vis a vis the US in the 25 years preceding the pandemic was the result of an increase in the employment to population rate, rather than faster labour productivity growth …
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Panama: Two-year (2024-25) minimum rate agreed
This year the minimum wage for large companies has risen by 6% – just shy of the 7% increase for employees in the banana sector …
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Panama: New income tax system for individuals and companies
All taxpayers must now complete new-style tax returns and individuals earning Panamanian Balboa 11,000 (US$11,000) or more must have their return authorized by a certified public accountant …
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Panama: Modifications to work permit regulations
A number of changes have just come into effect that generally open up the local labour market for foreign employers and employees …
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Panama: Partial increase in the minimum wage (2022-2023)
Under Executive Decree #74, the new minimum wage will operate for two years, until 31st December 2023 …
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Panama: President signs a medicinal cannabis bill
The legalisation of marijuana for medical purposes has been signed into law by the President …
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Panama: Short-term remote work visa introduced
Under Executive Decree 198, foreign Nomad workers working remotely from their employers or clients in other countries around the World may now apply for a temporary visa to live and work in Panama …
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Panama: Clearance for a return to work
In order to obtain clearance for a return to work, employers must go online at here or here and confirm the resolutions made by company committees of health and hygiene by completing the fields required …
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Panama: Executive Teleworking Decree
The text of an Executive Teleworking Decree has recently been hammered out by a Tripartite Commission …
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Panama: Law that creates the special regime for the establishment and operation of multinational companies for the provision of services related to manufacturing
Under the newly published Law No …
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Panama: 50 Balboa bonus
A 50 Balboa (US$50) bonus is being paid to workers with suspended contracts in the Provinces where quarantine has been imposed – Panama, Panama Oeste, and Chiriquí …
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Panama: Cuts, but new hires
Executive Decree No …
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Panama: Temporary suspension of employment contracts extended for 30 days
The Ministry of Labour and Labour Development has extended the company temporary work suspension period for a further month …
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Panama: Electronic filing
Resolution No …
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