Pay Your Workers in Panama with Ontop

Discover the versatile solutions Ontop offers for your contractors in Panama and Ecuador. Give them the freedom to choose how they manage their earnings with ease.
OVERVIEW

Language(s): Spanish

Currency: United States Dollar (USD)

Capital City: Panama City

Population: 4.409 million

Cost of Living Rank: 57th

VAT (Valued Added Tax): 7%

EMPLOYER TAXES

21.34%

★  12.25% - Social security
★  1.92% - Unemployment
★  1.50% - Education Tax
★  0.98-5.67% - Accident Insurance

Why Hire in Panama?

Panama has a well-established and business-friendly environment, with streamlined incorporation and employment regulations.

Panama's geographical location offers easy access to Central and South American markets.

Panama's tech sector is on the rise, attracting talent and investment. This can be a good fit for companies seeking a foothold in the region.

Minimum Salary

327 USD

Payroll Cycle

Monthly

Holidays Number

12

Trial Period

3 months

Employer Taxes

21.34%

Taxes Filing

15% to 25%

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Hiring independent contractors and Employees is easy with Ontop. We handle background checks and verify records quickly, so your team can start working without delays.

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