BANK ACCOUNTS IN PANAMA
Offshore Investment Solutions, Corp. offers an introduction to local banks with the objective of helping you establish a banking relationship. However, we cannot guarantee the approval of a bank application.
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:
1-Copy of your passport certified by a Panamanian Consulate near you
2-One personal banking reference.
3-Corporate Profile
Minimum to open the account – Types of Accounts
The minimum opening balance is $1,000.00..
Transferring Funds
The first step is for the bank to approve your account. Then the bank will provide you with the account number and you transfer the opening balance ($1,000.00) directly to the bank.
Is important for you to understand that our roll is to present you to the bank. We don’t intend to know any details regarding your account. Your account information will be kept between yourself and the bank.
The Panamanian Banking Association is vigilant.
Relationship Bank VS Client
If you want to give a good impression when opening an account in Panama, we recommend opening a Certificate of Deposit and a savings account. You can use the account for payments outside of Panama and keeping Money in it will help you maintain a good relationship with the bank. Banks will identify an account behavior as strange when the Money doesn’t stay in the account and only moves from country to country. This might induce the bank to conduct a banking security investigation.
You really want to keep a good banking relationship and avoid investigations since your capital is legitimate. We recommend to open two accounts: a Savings account and a Certificate of Deposit account. Of course, this is just a suggestion.
Bank application forms and signing cards
If you are outside of the country we will send you the applications and you should return them with a copy of your passport with an apostille from a Panamanian Consulate near you. If not you will have to come to Panama and we will take you to the bank personally, there you will be able to sign the required applications.
Our fees
- Bank Account Set Up Fee: $800.00. The price also includes our company’s letter of reference
CORPORATE AND PERSONAL ACCOUNTS
Requirements to open a bank account in Panama
1. One Banking References.
2. Copy of your passport with an apostille from a Panamanian Consulate near you (in the case you don't come personally).
3. If the account is for a Panama Corporation or Foundation we will need a certificate of validity from the Registry Public. We can get this for you.
4. Personal Profile or Company Profile.
9. Evidence of the Source of the funds: every time you make a wire transfer into your account the bank will ask for a proof of the origin of the transfer, this can be an invoice.
- Minimum to open the account: USD$1,000.00
- Time frame to set up the account: 2 weeks after receiving all the documents.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.