Offshore Investment Solutions Offshore Investment Solutions

Offshore Resources

 

Why a Bank Account in Panama?

  • Protection: By placing your money outside of you jurisdiction you protect your money from risks of economic activity such law suits
  • You are anonymous:
    The Board of Directors authorizes you as a signer in the bank account and you execute your functions using the Power of Attorney. Panama doesn’t have banking agreements with other countries that will disclose banking and tax information of foreign individuals.
  • Increase of your gains:
    If the corporation conducts its operations or businesses abroad then the net profit of the operation will be tax exempt. The Corporation's annual tax fee is $350.00 and the resident agent and board of directors fee ($650.00).
  • Diversity:
    You can have more than one company with its respective account and use them to develop different business fields. This way you won’t have all of your money in one account which could put you at risk.

English English Offshore Investment Solutions Español
Panama IBC's, Requirements to open a Bank Account in Panama, Panama Legal Services, bank accounts, offshore bank accounts, Panama bank accounts, Panama Corporations,Offshore Bank Account, offshore banking, opening an account offshore

EURO BANK ACCOUNTS IN PANAMA

Offshore Investment Solutions, Corp. offers an introduction to local banks with the objective of helping you establish a banking relationship.

Residency and Client's History

Most banks will request a Panamanian Permanent Resident ID or proof of the kind of investment that you like to develop in the country.

The good news is that we have contacts with banks that will give you flexibility to develop offshore businesses and will accept Panama Corporations and Foundations to open accounts for individuals who live overseas.

Presenting our Reference letter to the bank will start a smooth beginning for a long banking relationship. Of course the bank will request other documents.

These are the requirements:

  1. Two banking references for each one of the signers:  The letters must be printed in the bank’s stationary (with the company logo, phone, address, etc.) and should include the name of the person handling your account.
  2. Professional Profile of the signers: Description of the type of job or activity generating the funds and proof of funds (sale of Real Estate, Investments, services rendered, etc.) for the account.  The bank will not approve the account without this type of evidence.  If the client has a company please include webpage, brochure or any document that will accredit the product or service rendered.  An organizational chart including your frequent clients with their contact information is also required.
  3. Estimated movement for the account on monthly basis, country sending the funds and country that will receive funds (in case you send transfers from the account).
  4. Copy of all the pages of your passport stamped by Notary Public and verified by the Panama Consulate near you.  The signature cards have to also be verified by the notary and the Panamanian Consulate, we will send them to you by courier.  (Note: this is in the case you are not in Panama)
  5. Copy of a second ID, like your driver’s license or social security card.
  6. Letter authorizing our firm to present your application to the bank.
  7. Resent Police Record, not older than 2 years and specifying that the signer hasn’t participated in fraud, criminal activities, forging documents, etc.
  8. Tax returns for the last two years.
  9. For Corporate Accounts: Copy of the minutes of your Corporation Or Foundation (if you incorporate with our firm we will provide these documents)
  10. Copy of two ID’s of the members of the board of directors stamped by Notary Public.  (If you choose nominee directors our firm will provide the copies of the ID’s duly stamped by Notary Public)
  11. Power of attorney in the name of the signer duly recorded in the Registry Public (provided by our firm).
  12. Affidavit of the Members of the Board of Directors of the Corporation or Foundation specifying the name (s) of the Beneficiary Owner of the Funds and Protector for the Foundation (provided by our firm).
  13. Resident agent introductory letter for the Corporation or Foundation directed to the bank and explaining how we know the client (provided by our firm).
  14. Interview of the lawyer responsible to open the account in behalf of the client and the bank official (provided by our firm).  The bank might request for a visit from the client in person, it depends on the profile.
  15. Certificate of the Corporation or Foundation from the Panamanian Registry Public (provided by our firm). 
  16. Bank applications signed identically like the client’s passport.
  17. Client Form provided by our Firm signed identically like the client’s passport.

The Corporate Accounts come with a Debit Card.  Credit Cards are available if the client opens a Savings Account to act as collateral to the Credit Card with a deposit of 120% of the limit desired for the Credit Card.