How to Secure a Job in Panama - A Comprehensive Guide for Foreigners

Are you considering a job opportunity in Panama? Panama offers a unique mix of diverse cultures, beautiful landscapes, and a thriving job market. However, securing employment in Panama can be challenging, particularly for foreigners due to certain regulations and language requirements. In this guide, we'll walk you through the steps to increase your chances of landing a job in Panama, especially with multinational companies.

Understanding Job Opportunities in Panama

Panama has specific regulations that stipulate at least 90% of a company's workforce must be Panamanian citizens. This can make it more difficult for foreigners to find employment in the country. Additionally, salaries for most jobs may be lower compared to what you are familiar with in your home country. Moreover, fluency in Spanish is often a requirement for many job positions.

Currently, due to the pandemic, the country's unemployment rate stands at approximately 18%, which adds further complexity to the job market.

The Multinational Company Exception

Multinational companies, however, present an exception to these rules. They often offer higher salaries and are granted permission to hire foreigners, even if the 90% Panamanian workforce requirement is not met. Working for a multinational company with a headquarters in Panama can be an excellent way to secure employment in the country.

How to Obtain a Permanent Employee Visa

If you are offered a job by a multinational company with a headquarters in Panama, you may be eligible for a 5-year Permanent Employee Visa. This visa can be renewed upon expiration. The best part is that the multinational company typically covers the visa costs, making the process more convenient for you, and you won't need a separate work permit.

To explore multinational company opportunities in Panama and the benefits they offer, click on the link below:

Finding Job Opportunities

While multinational companies provide an excellent avenue for job seekers, unfortunately, there isn't a centralized platform that lists all available positions. You will need to visit each company's website individually to check for job openings. While Spanish language proficiency is a requirement for some roles, not all positions demand it.

Legal@Work - Panama Relocation Success Stories

Several individuals who participated in the Legal@Work Panama Relocation Tour have successfully secured high-paying jobs (6-figure salary) with multinational companies. Although it may require extensive research and a compelling resume, landing a job in Panama is achievable with the right approach. Contact us to learn more!

Tax Exemption Benefits for Employees of Multinational Companies

Employees working for a multinational company in Panama are exempt from paying taxes on their income, which adds to the allure of these opportunities.

Obtaining the Permanent Employee Visa

The Permanent Employee Visas are a result of Law No. 41 in Panama, which specifically caters to foreign employees of multinational companies. These visas are granted for a 5-year duration and are renewable.

Areas with Multinational Companies in Panama City

Multinational headquarters are typically established in certain areas of Panama City, such as the City of Knowledge and Cuidad del Sabor. The former is home to many multinational companies with various job opportunities. To explore these companies and their offerings, visit the City of Knowledge website and navigate to the "WORK AREAS" section. Click on the company logos to access detailed information and direct links to their respective websites.

List of Multinational Companies in Panama

To find job openings with the following multinational companies, perform a Google search using the "company name Panama" keyword and look for their careers or job listings. Indeed, Linkedin and Konzerta are the most common tools used by recruiters in Panama.

Additional Job Posting Websites

For more job opportunities, consider visiting the following websites. Keep in mind that not all these companies are multinational, so some roles may require a residency Visa and work permit:

• PANAMA PACIFICO — https://logistics.gatech.pa/en/assets/special-economic-zones/panama-pacifico/companies
• FIRST QUANTUM MINING — http://careers.first-quantum.com/cw/en/listing/
• GLASSDOOR — https://www.glassdoor.com/Job/panama-jobs-SRCH_IL.0,6_IN194.htm
• CAREERARC — https://www.careerarc.com/job-search/jobs-in-panama-city-panama-panama.html
• DELL — https://jobs.dell.com/location/panama-jobs/375/3703430/2

Considering Entrepreneurship

While landing a job in Panama is achievable, another viable option is to start your own business. Panama offers a friendly environment for entrepreneurs, making it relatively easy to establish and operate a business in the country.

In conclusion, while getting a job in Panama may come with certain challenges, the opportunities with multinational companies, along with the potential for tax exemptions and other benefits, make it a worthwhile endeavor. By exploring various avenues, conducting thorough research, and honing your language skills, you can increase your chances of a successful and fulfilling career in Panama.