More Foreigners Getting Work Permits in Panama
Thursday, September 09 2010 @ 11:42 AM EDT
Contributed by: Don Winner
Although the report from the Department of Statistics of the MITRADEL does not reflect the amount of their wages, Linares said it can be medium to high, as companies usually tend to bring their high ranking executives. Of the permits approved by the MITRADEL, 1,655 correspond to the 10% category. That is to say, foreign companies operating in Panama are only allowed to hire a maximum of 10% of foreign labor.
Meanwhile, the highest number of approvals relate to foreign nationals who are married to a Panamanian citizen (2,244), followed by indefinite permissions (1,262), and 519 under the Marackesh agreement, among others.
For his part, Juan Cabareda, a Venezuelan, said the main advantage of working in Panama is the economic stability, due to the currency, as well as the low inflation in the country, which means he can buy more with the money earned. "In Venezuela, the minimum wage is not enough for anything, instead here the money goes farther for things such as food and housing, the cars are cheaper, and the only thing that is more expensive is gasoline," he said.
The Center for Economic Studies of the CCIAP explained that some companies hire foreign workers with the intention of bringing knowledge to meet needs for specific skills, highlighting some sectors such as trade, services, high technology and others. (Panama America)