Panama offshore bank accounts

2009 Update: Because Panama banks now require a personal visit from the client, we prefer to use banks in Belize or Cyprus for companies we incorporate in Panama.

For those who want to visit Panama, we offer our clients several choices for their corporate offshore accounts.
We have done extensive research to ensure that the recommended financial institutions are secure, stable and reputable.

Most clients need an offshore account for their corporation (or Foundation).
We realize that the type of offshore account you select is essential for achieving your objectives, so we have provided a variety of account types to choose from. If you would like to set up an offshore account through any particular bank or brokerage firm that we do not currently deal with, we can also assist you for a slightly higher set up fee.

New: We can also offer bank accounts in Belize, Mauritius, or Hong Kong. Together we'll decide the best bank to use for your particular situation.

Bank account in Panama:
 

The Banks we do business with in Panama:

HSBC - offers English and Spanish online banking. Requires a minimum deposit of $1,000.00. No personal visit is required. Offers credit cards for corporate accounts.
This is the best option in Panama.

 

Multibank - offers English and Spanish online banking but requires a minimum deposit of $35,000.00 and personal visit OR the opening of a time deposit of at least $25,000 and the opening of regular savings or checking account for a minimum of $1,000.00. They offer Visa and Master Card debit and credit cards.

 

Credicorp Bank - for the time being they offer online banking in Spanish and debit cards. To activate the account there's a $1,000.00 initial deposit. No need for personal visit.

 

Banvivienda - for the time being they offer online banking in Spanish and debit cards. To activate the account there's a $3,000.00 initial deposit. No need for personal visit.

 

Stanford Bank - offers English and Spanish online banking. Requires a minimum deposit of $3,000.00. Personal visit is required. Offers debit and credit cards.

 

Capital Bank - for the time being they offer online banking in Spanish and debit cards. To activate the account there's a $5,000.00 initial deposit. No need for personal visit. If the compliance department deems it convenient they will do a more in depth due diligence that will require the customer to cover the costs (vary according to the geographical area of the business or location of the client).

 

All banks request the following:

1. Copy of the whole passport with apostille
2. Letter of reference* from a Bank addressed to the bank or to whom it may concern. The letter must be written in English or Spanish and bear all the contact details of the bank, apostilled or legalized by the Panamanian Consulate
(If a client does not have the ability to have a document apostilled, then legalization by the Panamanian Consulate will be enough.)

3. Business reference addressed to the bank or to whom it may concern. The letter must be written in English or Spanish and bear all the contact details of the issuer, apostilled or legalized by the Panamanian Consulate

4. Copies of tax last two tax returns, or bank statements.

5. Copies of last three months of bank statements
6. Copy of a second ID.

7. Bank forms duly filled and signed. We can fill some forms with some details pertaining to the company, but the rest of the documents have to be filled by the client.

Please review the various types of offshore accounts offered through our primary correspondents, documentation requirements for each, as well as their features and set up procedures to determine what type of account(s) best suits your needs:

 

You can go to our Panama page for more details on Panama offshore companies or to place an order.

 

Check here our special offer for Complete offshore packages

 

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For your convenience, we have included a Cost Calculator in the Panama order form:

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