Overview:

Through our on-the-ground Panama office we work with various banks and brokerages in Panama with both full international licenses and restricted (non-resident) banking licenses in Panama. Especially recommended for clients with Panama companies. Panama is suitable for certain kinds of commercial accounts, and we have an excellent private banking option. Safe deposit and precious metal facilities are available. Please be warned that account opening in Panamanian banks can take many weeks even if all documents are in order, as accounts are meticulously reviewed by a committee.

Remote account opening is possible, but not encouraged.

 

Target clients:

Worldwide, US citizens accepted, main focus is Latin America.

 

Languages:

Spanish and English.

 

Specific features:

  • Special expertise in LatAm markets like Mexico, Venezuela, Colombia, Argentina, Uruguay, Dominican Rep. Frequent visits to an officers in these countries.

 

Plastic cards:

USD.

 

Documents and Account Opening Process:

  • Standard set of documents, certified hard copies with original apostille (except for Panama companies, in which case no apostille is required)
  • Passport copy.
  • Proof of address (utility bill or bank statement)
  • Proof of source of funds.
  • Bank and Professional references. (It is possible to open personal accounts without references for clients who are visiting in person)

 

Deposit requirements:

USD 1000 for commercial or personal accounts, USD 100K upwards for private banking.

For further information on procedures and fees for opening your Panama offshore bank account, contact Offshore Pro Group today!