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Panama is located on the isthmus linking Central and South America. It is mostly recognized for the Panama Canal, a famous feature of human engineering that cuts through the country’s center, linking the Atlantic and Pacific oceans to create an essential shipping route. Since 2010, Panama has been the second-most competitive economy in Latin America, according to the World Economic Forum’s Global Competitiveness Index. Panama offers a very diverse ecosystem as its jungles cover around 40% of land area, being home to an abundance of tropical plants and animals.
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Cities of Coverage
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Panama City
Industries
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Energy
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Financial
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Food & Beverage
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Hospitality
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Manufacturing
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Medical
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Retail
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Technology
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Tourism
Our Solutions
Here’s how we can help.
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Claudia De Lucio
Regional Supply Chain & Development LeaderContact Us
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Phone: +1 301 760 7784
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Immigration Phone: +1 954 526 3354
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Opening Hours
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Monday – Friday
8:30 AM – 5:30 PM
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Hugo Peña
Senior Regional Immigration Manager- Official Currency: USD
- It is recommended to register at the local embassy or consulateto inform them of the assignee’s residence in Panama.
- In order to stay in Panama for more than 180 days, a visa isrequired.
- Once the immigration card is received, the process to obtaina driver’s license can begin. The original driver’s license must be validated in the consulate where the license was issued.
- Opening a bank account can be challenging for an assignee,the required documents are a copy of the employment offer letter and passport. Using the bank the company manages their accounts with may help facilitate this process.
- Public schools are not recommended in Panama, most assignees choose private schools; however, there are limitations in the availability in the private schools.
- Typically, the length of a lease is 12 months.
- By law, short term rentals must be for 45 days minium.
- Some landlords may ask for a guarantor and others mayaccept the offer letter. If the company does not serve as guarantor the landlord may request more rent upfront or a larger deposit.
- Security deposit is usually 1-month rent, some landlords may ask for more if a guarantor is not available.
- The rental commission is usually 1-month’s rent and is paid by the landlord.
- Most landlords will accept the diplomatic clause with a 30-60 day notice.
- There are two types of leases, private leases signed directly with the landlord and leases held by the Housing Ministry (MIVI) where a specific lease must be used and registered with the Housing Ministry.
- If the company is making the payments and requires an official receipt, the landlord will be charged a tax of 7% and will add that amount to the monthly rent.
- Utilities are generally not included as part of the rent; costs vary based on family size and usage. To obtain telephone services a copy of the lease is needed.
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The areas where affordable, desirable rentals are most likely to be located within Panama City are: Costa del Este, La Cresta, Punta Paitilla, Punta Pacifica, Marbella, Albrook, Clayton, San Francisco, Costa Sur, Coco del Mar, El Cangrejo, El Dorado & Avenida Balboa.