WE ASSIST YOU TO OPEN A BANK ACCOUNT IN PANAMA

OFFSHORE BANKING

Panama is an ideal country to open a bank account to protect your assets. Panama is considered the financial hub of Latin America and with more than 100s of banks, from all over the world, it is a business destination for international investors. By having bank account in Panama, this means you will save tons of money on income tax.

IT IS NO-BRAINER TO DO BUSINESS IN PANAMA

BANK ACCOUNT REQUIREMENTS

To open a bank account in Panama, it is required that individuals be present in Panama. Local bank officials conduct an interview with applicants to verify the information and approve the account opening.

Below we list the required documents;

  • Passport and other ID cards such as driver license
  • Bank reference letter (s)
  • Source of funds
  • source of income
  • Proof of residency
  • Panama Company Registration Certificate ( for company bank accounts )
  • DGI tax ID number ( for company bank accounts )
  • Aviso de Operacion document ( for company bank accounts )
  • Trade references ( for company bank accounts )

CAN YOU OPEN A BANK ACCOUNT IN PANAMA?

YES, OF COURSE. In order to open a bank account in Panama, you need to be a Panama resident, work or have a pension. International clients who wish to open a bank account need to establish residency or have a company in Panama. We have assisted many international clients to open a bank account in the past 15 years.

panama relocation
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CONTACT US TODAY IF YOU WISH TO OPEN A BANK ACCOUNT IN PANAMA

OFFSHORE BUSINESS BANK ACCOUNTS

WE ASSIST CLIENTS TO OPEN PERSONAL AND BUSINESS BANK ACCOUNTS

We have been providing assistance to open bank accounts for our international clients and have excellent working relationships with corporate banking in Panama. We are here to help clients to achieve their goals.

WHICH COUNTRY IS BEST FOR OFFSHORE BANK ACCOUNT?

We believe, Panama is among the top countries to do offshore banking. Panama considered the best TAX HAVEN JURISDICTION because it provides many tax benefits to investors. Another advantage of Panama is its account secrecy and confidentiality. Panama offshore bank accounts are discreet and all the transactions remain confidential. So if you are looking for a safe and secure place, Panama is the country to do business with.

Other countries such as Cayman Islands, Belize, Singapore and Switzerland no longer considered ideal countries to do offshore banking.

IS PANAMA IDEAL FOR OFFSHORE BANKING?

According to financial experts, Panama is the ideal place to do offshore banking. For example, Panama provides the benefit of having no exchange control laws. This means that there is no reporting on clients offshore business entities incorporated in Panama. In addition, there are extensive laws in Panama to protect corporate and individual financial privacy. Strict confidentiality laws and regulations apply to the documentation of offshore Corporations, Trusts and Foundations.

BENEFITS OF OFFSHORE BANKING

Offshore banking is ideal for individuals and companies who seek asset protection, tax benefits and security. Panama’s corporate and tax structure, makes it a pure tax haven jurisdiction. In addition, Panama imposes no capital gains on income when companies engaging in business outside of the Panama.

Below we list some of the benefits of offshore banking;

BANK ACCOUNT
  • ASSET PROTECTION
  • CONFIDENTIALITY AND BANKING SECRECY
  • TAX HAVEN STATUS
  • PANAMA RESIDENCY
  • US DOLLAR CURRENCY
  • FLEXIBLE CORPORATE LAWS
  • STABLE BANKING SYSTEM

IS PANAMA CONSIDERED A TAX HAVEN?

The Republic of Panama is considered one of the most well-established pure tax havens in the Caribbean. Panama’s special corporate laws and secrecy regulates the country’s offshore jurisdiction and financial services.

The banking structure in panama

The Superintendency of Banks of Panama is the country’s banking authority. It was established in 1998 and its responsibilities include licensing banks, monitoring bank operations, and investigating complaints against banks. The Superintendency also works to promote financial stability and prevent money laundering. Most banks in Panama offer a wide range of services, including savings and checking accounts, loans, credit cards, debit cards and investments.

Panama Banking Privacy & Secrecy

Banking secrecy is an integral part of the banking system in Panama. It helps to protect the privacy of bank customers and their financial information.

Banking secrecy also allows banks to operate more efficiently by keeping confidential information out of the hands of competitors. Bank secrecy laws require banks to keep customer information confidential.

Panama purchases old US treasury bills for its paper currency as it does not print its own paper money.

TOP 10 PANAMA LOCAL BANKS

  • BANCO GENERAL
  • BAC
  • BANISTMO
  • BANESCO
  • CAJA DE AHORRO
  • BANCO NACIONAL
  • GLOBAL BANK
  • CREDICORP BANK
  • SCOTIABANK
  • CAPITAL BANK
PANAMA tax haven

CONTACT US TODAY IF YOU WISH TO OPEN AN OFFSHORE BANK ACCOUNT