Panama - Employer of Record (EOR)
Learn what you need to expand your business and hire compliantly in Panama while simplifying HR processes with Justworks EOR.
Quick Facts on Hiring in Panama
Everything you need to know about hiring in Panama at a glance.
. million
Population
Balboa (PAB) and United States Dollar (USD)
Currency
Panama City
Capital city
Spanish
Languages
$ billion (USD)
GDP
national holidays
Public Holidays
. million
Population
Balboa (PAB) and United States Dollar (USD)
Currency
Panama City
Capital city
Spanish
Languages
$ billion (USD)
GDP
national holidays
Public Holidays
Grow Your Team in Panama with Justworks EOR
Hire top talent in Panama without opening a local entity or navigating labor law alone. Justworks EOR helps you manage compliance, payroll, and benefits to simplify the complexity of international hiring.
Here’s how we support your global expansion:
Pay your team on time and in USD
Offer locally aligned benefits to stay competitive
Stay compliant with Panama’s Labor Code
Lean on expert support for onboarding, offboarding, and more
Here’s What You Should Know Before Hiring in Panama
Compensation & Benefits
In Panama, employers are required to pay a 13th-month bonus, and the minimum wage varies by region and role. Employees are entitled to paid vacation, public holidays, and mandatory social security contributions. Health and pension coverage is primarily administered through the Social Security Fund (CSS).
Hiring in Panama with an EOR
Ready to start hiring talent in Panama with Justworks? Here’s how the process looks:Â
You’ve found the perfect new hire in PanamaÂ
Partner with Justworks EOR to bring them on
Start the onboarding process for employees, including enrollment in local benefits and pension contributions
Manage ongoing tasks such as payroll, benefits administration, compliance, and other HR operations specific to Panama
Hiring in Panama might seem overwhelming, but Justworks is here to offer tailored support to make it simple.
Insights Into the Panama Hiring Market
Ready to Hire Confidently in Panama?
Justworks helps you compliantly hire, pay, and support employees in Panama without the need for a local entity.
