Paperwork in Panama: the vocabulary
Paperwork vocabulary is what strands a newcomer fastest: one window, one form and three acronyms nobody explains. These are the words that show up in a rental contract, on a payroll slip or in line at an institution, defined in plain Panamanian with the English equivalent beside them. This is not legal advice: it is knowing what you are being asked for.
25 entries in this list
abanderamiento
Registering a foreign ship under the Panamanian flag.
aviso de operación
The mandatory business registration filed with the Ministry of Commerce to operate any business in Panama.
balboa
Panama's official currency, pegged one-to-one with the U.S.
canasta básica
The official list of basic foods with its monthly cost, published and updated by the government.
carné de salud
A Ministry of Health document certifying that a person may handle food or serve the public.
carta de trabajo
An employer letter stating position, salary and length of service.
cédula
Panama's national ID document, issued by the Electoral Tribunal.
comarca
A Panamanian political-administrative division with indigenous autonomy, ranking alongside a province.
corregimiento
Panama's smallest political-administrative unit, below the district.
décimo
A mandatory bonus equal to one extra month of salary, paid in three installments a year (April, August and December).
descuento directo
A loan repaid by deducting it from wages before they reach the account.
el revisado
The mandatory annual vehicle inspection, without which the license plate cannot be renewed.
fondo de cesantía
A fund employers are required to maintain to back the seniority premium and severance owed to workers.
idoneidad
The official license to practice a regulated profession in Panama (lawyer, doctor, engineer, accountant).
ITBMS
Panama's value-added tax on the transfer of goods and services.
jubilado
A status achieved by age and other criteria, carrying legally mandated discounts on transport, restaurants, medicine, utilities and entertainment.
junta comunal
The local governing body of a corregimiento, chaired by its representative.
la notaría
The office where signatures and documents are notarized.
ley seca
A temporary ban on selling alcohol, applied around elections and on certain days of Holy Week.
paz y salvo
A certificate confirming that a person or company has no outstanding debts with a given entity (tax authority, municipality, water utility).
planilla
A company's payroll.
prima de antigüedad
A payment owed to a worker for time served when an open-ended contract ends, whether they quit or are dismissed.
récord policivo
A certificate that a person has no criminal record.
RUC
The number identifying each taxpayer before the tax authority.
sociedad anónima
Panama's signature corporate vehicle, governed by Law 32 of 1927.