The #1 alternative
Commenda vs Deel vs Globalization Partners
Incorporate, rent employment through an EOR, or own and run your Panama entity. Here's how the three compare.
Comparison at a glance
Deel and Globalization Partners employ people on their entity. Commenda gives you your own Panama entity and runs four suites across 70+ countries, so one platform takes you from your Panama S.A. to a full multi-country group.
Commenda
Global entity management with complete compliance. Sets up your own Panama S.A. (Articles, resident agent, franchise tax, three-director board) and runs ITBMS, DGI returns, payroll, CSS, accounting, and transfer pricing across 70+ countries.
Deel
EOR. Hires staff on Deel's Panamanian entity from $599/employee/month (plus salary and employer costs). Operates in 110+ countries. Good for hiring one or a few people in Panama with no entity of your own.
Globalization Partners
EOR. Hires staff on G-P's Panamanian entity, quote-based (roughly $800 to $1,000+/employee/month). Operates in 180+ countries. Good for headcount across many countries with no entities of your own.
Feature comparison
Why we do it better
 | Deel | Globalization Partners | |
|---|---|---|---|
| Model | Your own entity | EOR (their entity) | EOR (their entity) |
| Starting price | $970 (one-time) | from $599/emp/mo | Quote-based |
| You own the Panama entity | |||
| Panama S.A. incorporation | |||
| Resident agent + franchise tax handled | n/a | n/a | |
| Hire employees in Panama | |||
| ITBMS (VAT) + DGI returns | |||
| Transfer pricing (cross-border + CbCR) | |||
| Multi-entity consolidation / audit trail | |||
| Manage entities in other countries | |||
| 100+ ERP integration support | |||
| Cost shape | One-time + fixed | Per head, monthly | Per head, monthly |
Built for different buyers
Pricing compared
Advertised rates as of June 2026. Competitor pricing changes often.
Commenda
$970one-time
- Includes Articles, share certificates, franchise tax year 1, notarial fees, and registered agent year 1
- Modular: nominee director $860/seat/yr, annual maintenance $785/yr, Basic Compliance $859.50/mo, DGI return $535/yr
- You own the entity; a one-time setup plus fixed ongoing fees, not a per-head monthly fee
- Customers typically retire 3 to 5 vendors
Deel
$599per employee / mo
- From $599; excludes gross salary, employer taxes, statutory benefits, and CSS contributions
- Negotiated rates can fall to ~$400 to $500/employee/month at 20+ headcount
- No entity of your own; you pay per head every month
Globalization Partners
Quoteper employee / mo
- Quote-based, roughly $800 to $1,000+/employee/month; no public price page
- Depends on country, volume, and contract
- No entity of your own; you pay per head every month
How each model works
What's the difference?
How Deel and Globalization Partners stack up against Commenda for entity management in Panama.
Commenda: your own Panama entity, managed as part of your global group
- Sets up the Panama S.A. you own (Articles, resident agent, franchise tax, three-director board)
- Then runs payroll/CSS, ITBMS (VAT), DGI returns, accounting, and transfer pricing
- Consolidates Panama with your entities in 70+ countries, one audit trail
Deel and Globalization Partners: employment on the EOR's entity
- Hire staff fast with no entity of your own
- Per-head monthly fee plus salary and employer costs
- No entity ownership, no ITBMS/DGI filing for your company, no consolidation or transfer pricing
Making a decision
Which one should you choose?
The right fit depends on your footprint and stage in Panama.
Choose Commenda if…
- You want to own your Panama entity, not rent a seat on someone else's
- You operate in Panama and at least one other country and want them managed together
- You want incorporation, payroll/CSS, ITBMS, DGI returns, and transfer pricing in one place
Choose Deel if…
- You have one or a few hires in Panama and no entity of your own yet
- You want to start hiring from $599/employee/month without forming a company
Choose Globalization Partners if…
- You are spreading headcount across many countries with no entities of your own
- You want one EOR vendor for global employment and accept quote-based per-head pricing
Common questions
An EOR (Deel, Globalization Partners) hires staff on its own Panamanian entity, so you never own a company. Commenda forms a Panama S.A. that you own and manages it. EOR is a fast start for a first hire; an owned entity is the foundation once you grow or want control.
For a single early hire, an EOR is the lower-cost, faster start (Deel from $599/employee/month). EOR cost is per head per month and climbs with the team. Commenda is a one-time setup plus fixed ongoing fees on an entity you own, which on total cost of ownership wins past a few employees.
No. An EOR lets you hire without one. But you cannot run your own contracts, ITBMS, DGI returns, or consolidation on an EOR's entity. When you want to own the company, Commenda sets up the Panama S.A. and handles payroll, CSS, and ongoing tax.
No. Panama requires three individual directors of any nationality with no residency requirement. Commenda provides nominee directors at $860 per seat per year for any seats you cannot fill yourself.
About 20 days from submission of the requested documents (registration, corporate documents, and tax registration RUC + NIT), excluding time to gather KYC documents.
100 questions, from real customer calls.
The questions finance teams actually ask about entity management: EINs for non-residents, Delaware vs Wyoming, cleaning up the entities a previous provider left behind, and more. If you're looking for something, you'll find it here.
