Finding Work in Panama City: Jobs, Remote Work, and Starting a Business

Most expats in Panama City work remotely for foreign companies, earning North American/European salaries while living on Panama's lower costs. Local jobs exist in international banking, tourism, and teaching English, but competition is high. Starting a business requires the Investor or Business Owner visa. Here's how to earn income in Panama.

Remote Work: The Expat Advantage

The majority of expats in Panama City work remotely for companies based in other countries. Remote work offers several advantages:

• Higher salaries: You can earn North American or European salaries while living on Panama's cost of living
• No visa restrictions: You can work remotely as a tourist (though a residency visa is recommended for long-term stays)
• Currency advantage: Earn in strong currencies (USD, EUR, GBP) while spending in the Panamanian Balboa
• Flexibility: Control your hours and work location
• Stability: use your existing career rather than starting from scratch

For remote workers, Panama is ideal. The internet infrastructure is good, time zones overlap with North American business hours, and the cost of living allows for comfortable work-life balance.

Finding Remote Work

If you don't already have remote work lined up, several platforms specialize in remote positions:

• Upwork: Freelance platform for project-based work
• Fiverr: Service-based freelancing
• Remote.co: Job board specifically for remote positions
• FlexJobs: Curated remote job listings
• LinkedIn: Search for "remote" positions in your industry
• We Work Remotely: Remote-first job board

Common remote work for expats includes digital marketing, software development, content writing, virtual assistance, consulting, and design work.

Local Employment Opportunities

If you want to work locally in Panama, opportunities exist primarily in:

• International companies: Banks, insurance firms, and logistics companies often hire English-speaking expats
• Tourism and hospitality: Hotels, tour operators, and restaurants hire expats for management and specialized roles
• Teaching English: Schools and language academies actively hire native English speakers. Salary ranges $800-2,000/month
• NGOs and international organizations: Development organizations, environmental groups, and humanitarian organizations hire expats
• Business consulting: Expats with expertise in specific industries can offer consulting services

Salary Expectations

Local salaries in Panama are significantly lower than in developed countries:

• English teachers: $800-2,000/month
• Administrative roles: $1,000-1,500/month
• Middle management: $2,000-4,000/month
• Senior management/specialized roles: $4,000-8,000+/month

These salaries are livable in Panama City but not generous. Remote work salaries (often 3-10x higher) make it the preferred option for most expats.

Visa Considerations for Work

Panama has different visa categories for different work situations:

• Tourist visa (180 days): No work authorization, but enforcement is lax for remote workers
• Friendly Nations visa: Allows residency for citizens of 50+ countries with monthly income requirement (~$1,000/month). Doesn't explicitly permit work
• Work visa: Requires employer sponsorship; competitive and reserved for specialized roles
• Self-employment visa: Available for those starting a business with capital requirements (around $100,000+)
• Pensioner visa: Available for retirees with monthly pension income (~$1,000/month)

Remote workers often operate in a gray area—working for foreign companies while on a tourist or friendly nations visa. While not technically legal, it's widely done and rarely enforced.

Starting a Business in Panama

Panama is actually quite business-friendly for entrepreneurs:

• Low bureaucracy: Company registration takes days, not months
• Low startup costs: Corporate formation costs $200-500
• Tax incentives: Special economic zones and free trade zones offer tax breaks
• No minimum investment: You can start with minimal capital (unlike many countries)
• Easy banking: International business banking is straightforward

Common businesses started by expats include consulting, tourism services, real estate, language schools, and e-commerce.

Cost of a Business License

The process and costs for starting a business:

• Company registration: $200-300
• Business license (DGII): $50-100
• Professional license (if required): $100-500 depending on profession
• Office space: $300-800/month for a shared workspace
• Total startup: $1,000-2,000 for a basic business

Compared to other countries, Panama's startup costs are very low.

Freelancing and Consulting

Many expats work as independent contractors or consultants:

• Business consulting: Help companies with strategy, operations, or international expansion
• Professional services: Legal, accounting, marketing consulting
• Training and coaching: Executive coaching, language tutoring, professional development
• Content creation: Writing, photography, video production

Freelancing requires self-discipline and marketing skills but offers flexibility and higher potential earnings than local employment.

Networking for Work

In Panama, relationships matter. Networking tips for finding work:

• Expat networking groups: Join professional associations and expat meetups
• Chamber of Commerce: Join the Panama-American Chamber of Commerce for business connections
• Professional associations: Join industry-specific groups in your field
• Social networking: LinkedIn is active in Panama; connect with professionals in your industry
• Word of mouth: Tell people you're looking for work; opportunities arise through referrals

Internet and Infrastructure

For remote work, internet quality is critical. Panama City has reliable internet:

• Fiber internet: Available in most central areas, 50-100 Mbps for $30-50/month
• Mobile hotspot: 4G cellular available as backup, ~$20-30/month for decent data
• Coworking spaces: Multiple coworking spaces available with reliable internet and professional environment

Internet reliability is generally good in Panama City, making remote work viable for most professions.

Financial Reporting and Taxes

Important considerations:

• Panamanian taxes: Non-residents working remotely may have tax obligations
• Your home country: You likely have tax obligations to your home country (US citizens have FATCA requirements)
• Professional advice: Consult with an accountant familiar with expat taxes
• Banking disclosure: Maintain proper records for banking and tax purposes

Tax planning is important but shouldn't be the only factor in your decision.

The Bottom Line

Finding work in Panama City is absolutely possible. Remote work is the most common path and offers the best earnings potential. For those interested in local employment or starting a business, opportunities exist but require effort and often lower compensation than remote work. The key advantage of Panama is that you can earn strong currency while living affordably, making almost any employment path more financially advantageous than staying in high-cost countries.

Related Panama Work Guides

• Explore Panama City - Living and working guide
• Business Services Panama - Company formation help
• Panama Residency - Visa options

Offer remote work services or coworking in Panama City? List your business on ExpatsList.