WE ASSIST YOU TO OPEN A BANK ACCOUNT IN PANAMA

Panama considered financial hub of Latin America. With more than 100s of banks from all over the world, Panama is a business destination for international companies and businessmen. Due to its TAX FREE structure law, if you are headquartered in Panama but doing business with international clients, there is no tax liabilities whatsoever. That means, whatever your company makes, you are entitled to keep and NO TAX LIABILITY to Panama government. So having business as well as bank account in Panama means you save tons of money on income tax.

IT’S NO BRAINER TO DO BUSINESS IN PANAMA

NO INCOME TAX

PANAMA CORPORATION

OPEN AN OFFSHORE BANK ACCOUNT TODAY!

IS PANAMA GOOD FOR OFFSHORE BANKING?

According to financial experts, Panama is a great place to do offshore banking for many reasons. For example, Panama offers the benefit of having no exchange control laws. This means that for individual clients of Panama’s offshore banking and offshore business entities incorporated in Panama, there are no limits or reporting requirements on money transfers into or out of the country. 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, with severe civil and criminal penalties for violations of confidentiality. 

BENEFITS OF PANAMA OFFSHORE BANKING

  • ASSET PROTECTION
  • CONFIDENTIALITY AND BANKING SECRECY
  • TAX HAVEN
  • US DOLLAR CURRENCY
  • FLEXIBLE CORPORATE LAW
  • STABLE BANKING SYSTEM

IS PANAMA CONSIDERED A TAX HAVEN?

A pure tax haven is a country that imposes no taxes at all however tax haven is simply a country that offers individuals or businesses little or highly reduced tax liability. . The Republic of Panama is considered one of the most well-established pure tax havens in the Caribbean due to extensive legislation that strictly regulates the country’s offshore jurisdiction and financial services.

PANAMA BANKING BENEFITS

  • Panama’s legal and tax structures make it a pure tax haven.
  • Panama imposes no income, corporate, capital gains, or estate taxes on offshore entities that only engage in business outside of the jurisdiction. Offshore companies can engage in business locally—a rare perk—but will pay local taxes as a result.
  • Panama has strict banking secrecy laws designed to protect the privacy of account holders.
  • Panama also has no tax treaties with any other country and no exchange control laws.

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.

To carry out its mission, the Superintendency has several powers including the power to inspect banks and impose sanctions on banks that violate banking laws.

PANAMA BANKING

Most banks in Panama offer a wide range of services, including savings and checking accounts, loans, credit cards, debit cards, investments and much more.

ATMs are widely available throughout the country, or you can go into a bank branch to make withdrawals or deposits. In addition, use of online banking to transfer money or pay bills are very common in Panama.

Can I Open A Bank Account In Panama?

In order to open a bank account in Panama, you need to be a Panama resident and having a job or income. Another words international clients who wish to open a bank account must become Panama residenct first. We have assisted many international clients to open a bank account as an individual or as a company in the past 15 years. Panama banking requirements are very strict and we assist you to have a bank account in Panama.

Panama Banking Privacy, secrecy and confidentiality

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 U.S. Dollar Currency

The official Panama currency is Balboa. The Balboa has been the currency of Panama since 1903, when Panama separated from Colombia. Panama currency is named after Spanish explorer Vasco Núñez de Balboa. The Balboa is pegged to the United States dollar and one Balboa is equal to one US dollar.

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

Safety & Security of Panama Banks

Banks in Panama are considered safe & secure. Panama banking system is designed to be very conservative and In fact, Panama has a long history of being a safe place for deposits.

PANAMA MOST POPULAR LOCAL BANKS

  • BANCO GENERAL
  • BAC
  • BANISTMO
  • BANESCO
  • CAJA DE AHORRO
  • BANCO PANAMA
  • CAPITAL BANK
offshore banking

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

EMAIL: CUSTOMER@PANAMALEGALCENTER.COM