Published: 29 Oct 2008 10:00:13 PST
Panama
Operating a business
Setting up a company
Legal business entities
| Different types of companies | Number of partners/shareholders | Maximum and/or minimum capital | Liabilities | Registration fees |
| Sociedad Anonima is a joint stock company | 2 minimum. There is no requirement regarding the place of residence and nationality of the directors. | No minimum capital. | Liability is limited to the amount contributed. | They are based on the amount of the capital. -USD 50 on the first USD100,000 . -0.075 % from USD 10,000 to USD 100,000 for the next contributions. -0.05 % from USD100,000 to USD1 million ; -0.01 % above USD1 million. |
- Business setup procedures
- Investors must to contact the Registro Público de la República de Panamá (Public Registrar of the Republic of Panama) in order to register their company.
Working conditions
- Legal weekly duration
- 48 hours
- Retirement age
- 57 for women and 62 for men.
- Working contracts
- The employment contracts are regulated by legal clauses and to a lesser degree by collective agreements and individual negotiations.
The terms of employment contracts, the conditions for hiring and the limits for dismissal are rigid.
Cost of labor
- Minimum wage
- from 0.89 balboas (USD0.89) à 1.68 balboas (USD1.68) by hour, depending on the activity sector and the area
- Social contributions
-
Social security contributions paid by employers: 10.75%.
Social security contributions paid by employees: 7.25%.
Social partners
- Bargaining power
- There are 257 trade unions gathered in 48 federations and 7 confederations.
- Unionization rate
- 10%.
- Labor regulation bodies
-
Consejo Nacional de la Empresa Privada (CONEP)
© Export Entreprises SA, All rights reserved.
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