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How to Get a Free Bank Account in Panama

How to Get a Free Bank Account in Panama

 

If you were to open an offshore bank account by yourself...

Opening an offshore bank account by yourself is not as simple and easy as it is in the USA, Canada, Europe or any other high tax jurisdiction. It is for that reason that legal services charge anywhere from $500 $1,200 USD just for assistance in opening an offshore bank account. Because of our free advice policy, clients that form a company with our service receive most of the necessary documents below completed and free assistance in opening a bank account at no additional cost.

If you like a challenge and are determined to do it by yourself, we offer you the following information:

Click here to consult with an offshore analyst online now for free with no obligation and see what international bank regulations would apply to your case.

We provide the documents in points 8, 9 and 10 to our clients at no additional cost.

  • The way that the business operation is presented to the Panamanian bank must comply with all the regulations of the international banks.
  • Verify that you are providing the right type of information and documentation that will NOT trip any alarms, causing the banks to be concerned and ask for ADDITIONAL, often unnecessary documentation.
  • The Banks require the following documents for opening a personal bank account:

Click here to get free help from an offshore analyst that is online now and find out now how to get these letters easily and what they should say.

  1. Two pieces of Identification
  2. A signature Card (Suministra del Banco)
  3. Two banking references and commercial references addressed to the bank (more recent than 3 months)
  4. A completed and signed Bank contract
  5. Completion of the Personal profile form
  6. Contract for the use of the Online Banking system (if the use of such system is desired)
  7. Copy of all the pages of the Passport
  8. Record of Immigration Status
  9. Two personal references from Panamanian residents
  10. Letter stating that the money to be deposited into the account has not been generated from illicit activities.

    It is important to present yourself correctly in the personal profile form. Click here and an offshore analyst will walk you through the form so it is done correctly.
  11. In addition to the documents listed above that are required for each signing party, officer and director of the corporation, the Banks also require the following documents for opening a corporate bank account:

    If you do not have financial statements or tax returns, talk to an offshore analyst available online now and see the solution for point 6.

  • Charter of the Corporation
  • Ammendments to the Charter
  • Minutes from the meetings of the Board of Directors
  • Certification of the Corporation (more recent than 3 months)
  • Directors’ Resolution sanctioning the opening and operation of the bank account
  • Financial statements or Tax returns
  • Minutes of the Board of Directors authorizing the use of the Online Banking system (if the use of such system is desired)
  • Letter from the resident agent specifying who is the actual owner of the funds and verifying that the money has not been generated from illicit activities.

    For each of the authorized signing parties, officers and directors the banks require the following personal documents:
    1. Two pieces of Identification
    2. A signature Card (Suministra el Banco)
    3. Two banking references and commercial references addressed to the bank (more recent than 3 months)

The following paperwork is to be completed while at the bank:

  1. A completed and signed Bank contract
  2. Completion of the Corporate profile form
  3. Contract for the use of the Online Banking system (if the use of such system is desired)

If you don't prepare before approaching the bank, you run the risk of burning bridges.

If the individual wishes to find a bank that may consider opening the account without a visit to Panama he must translate all the domentation in Spanish witha certified translation service, obtain an Apostille from the government of his country and finally certify the Apostille at the Panamanian consulate that is located nearest to his place of residence.

If you let us handle it all for you...

With our service, the only step you have to worry about is:

INCORPORATE NOW!

Everything else is handled for you. We find all the trusted professionals and nominee directors, and because we maintain a trusted relationship with the banks of Panama, we provide the introduction that makes it easy to make accounts for our clients. No need to provide extra, unnecessary info, or create extra delays while you make connections with the countless trusted professionals you would need to find.

In most cases, the client will not have to come to Panama at all. In some rare cases, they might have to come for only a couple of days in order to sign sensitive paperwork.

Because we have extensive experience and trusted relationships with the banks of Panama, we relieve the worry and uncertainty that banks have when dealing with new clients. We introduce our clients to the bank that we helped them pick for their needs.

What's Next?

Once you complete the registration of your Panama Corporation, a senior Offshore Analyst will review your situation and provide you with a recommendation for the most suitable bank for your business. In the last step, we will also assist you with the completion of all bank forms and required documents. Through our close collaboration at every step of the way, we will ensure that you will maintain full online control of your solid offshore entity.