Search
Contact
Login
Share this article
IMPACT – MEDIUM
What is the change? Panama’s National Immigration Service has lowered the minimum salary for foreign workers on International Executive visas from US$5,000 a month to US$2,000.
What does the change mean? Companies may wish to adjust payroll budgets in light of the lower salary minimums, which follow a dramatic increase in the salary minimum in June.
Background: In June, Panama dramatically increased the minimum salary for workers on International Executive visas from US$1,000 a month to US$5,000 a month. Panamanian authorities subsequently decided to lower the threshold in order to bring it into closer accordance with minimum salaries for other visa categories in Panama. The US$2,000-a-month minimum took effect Nov. 29, when the new salary level was published in the Official Gazette.
BAL Analysis: The reduction of the minimum salary represents a significant change that will make it easier for companies to send employees to work in Panamanian branch offices on International Executive visas. Companies should take note of the change and adjust their employee salaries if they wish to do so.
This alert has been provided by the BAL Global Practice group and our network provider located in Panama. For additional information, please contact your BAL attorney.
Copyright © 2016 Berry Appleman & Leiden LLP. All rights reserved. Reprinting or digital redistribution to the public is permitted only with the express written permission of Berry Appleman & Leiden LLP. For inquiries please contact copyright@bal.com.
South Africa’s Ministry of Home Affairs announced a new Trusted Tour Operator Scheme, which will open in January 2025. Key…
The U.S. Mission to India has released 250,000 additional visa appointments for Indian travelers, including tourists, skilled workers and…
The Australian government’s ballot initiative for the Work and Holiday program for mainland China, India and Vietnam has commenced for…
The Canadian government has updated its guidance for intra-company transfers (ICT). Key Points: Immigration, Refugees and Citizenship…