IMPACT – HIGH
What is the change? Panama has overhauled its immigration and labor laws.
What does the change mean? The changes include creation of a new temporary visa for U.S. nationals, extension of work permit validity in some categories while restricting it in others, and eased procedures for professional work permit applications.
Additional information: The reforms were announced in late May and took immediate effect. Among key changes, officials have:
Analysis & Comments: On the whole, the changes will help companies recruit and retain foreign nationals in Panama. In some cases, however, work permits will be restricted or subject to additional application requirements. Employers are encouraged to review the new rules and amend immigration and recruitment plans as needed.
Source: Deloitte LLP. Deloitte LLP is a limited liability partnership registered in England and Wales with registered number OC303675 and its registered office at 1 New Street Square, London EC4A 3HQ, United Kingdom.
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