Business in Panama is fairly relaxed and informal, and business relationships are built on trust and familiarity. Hierarchy is also important in Panama, and respect should be shown to anyone in a senior business position. Although women are involved in business in Panama, there are relatively few in managerial posts.

Spanish is the official language of Panama and you should have your business cards and company literature translated.

Business attire for men consists of a formal suit and tie, or a local-style loose open-necked shirt. Jackets are often removed in meetings. Women should dress modestly in a dress or skirt and blouse.

Appointments should be made in advance. Normal office hours are 8 a.m. to 12 noon and 2 p.m. to 5 or 6 p.m. on weekdays, and 9 a.m. to noon on Saturdays. Punctuality is regarded as important in Panamanian business, so you should arrive on time for your meeting.

A handshake is the normal form of greeting, for both men and women, although close male friends or women may embrace. Business cards are exchanged and should include titles, as these are regarded as important in Panama.

If someone has a professional title they should be addressed by this alone, e.g. doctor, lawyer or architect. Other people should be addressed as Senor, Senora or Senorita, with their family names. Although most people in Panama use both their father's and their mother's surname, in that order, only the father's name should be used when addressing them.

After the initial greetings at the office, it is common practice for a meeting to move to a more informal setting, for negotiations to be held over light refreshments. Meetings often start with small talk, on subjects such as sports, hobbies or families.

Business negotiations can be quite lengthy, and several visits to Panama may be needed before agreement is reached. Decisions are usually made by senior businesspeople, but with input from others.

If you are invited to dinner at a Panamanian home, it is not appropriate to take a gift; instead you are likely to be presented with a gift to thank you for coming. In return, you should invite your host to dinner, and similarly present them with a small, good quality gift. Spouses are usually included in invitations to business dinners.

--

Got something to add to this section? Spotted something which should be changed? Please let us know!

Click here to return to the contents page for "Panama - a guide for business travellers."