Panama Info
Joined: 16 Nov 2006
Posts: 17
Home Country: panama
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 Posted: Tue Nov 21, 2006 5:33 am Post subject: EMPLOYMENT IN PANAMA |
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EMPLOYMENT IN PANAMA
Wages are very low in Panama. Secretarial, clerical or customer service positions will earn only about $300 per month, more technical positions can earn from $500 to $1000. Most public employees and managerial positions rely on benefits and bonuses to make up the difference for the low salary. Every worker has a right under the labor code for 1 day of vacation for every 11 days worked (or 1 month per year paid vacation) This can be divided in 2 parts. There are also restrictions on the percentage of foreigners a Panamanian company may hire, generally 10%, although exceptions exist for technical positions and temporary situations.
Expatriates should find plenty of opportunities in the financial or banking sectors, also the real estate and tourism boom should open up good opportunities for small businesses related to these sectors. Contractors are in short supply and there will be plenty of room for small hotels or unique tours, for example.
Another opportunity might exist for those who are multilingual, especially in the tourism industry. There are plenty of English speakers, but German, French and Italian speakers are not very common. With the local economy basically based on the US dollar, Europeans should find travel to Panama increasingly affordable. The Asian tsunamis have made European tourists look for alternative vacation spots and local operators seem to think that Panama would be a good choice for them.
The best alternative may be to be hired from the U.S. or Europe or transfer with a company you already work for. You will command a higher salary than people hired locally and therefore be able to benefit from the lower cost of living. Work permits would then be arranged by your employer, who will explain to immigration why they need a foreigner instead of a local. |
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