How Open a Panama Offshore Bank Account
How become Client of a Panama bank ?
How to open a Personal or Corporate Panama offshore Bank Account ? Can I open Panama Bank Account remotely and online ? Can I open a Panama Bank Account without residency permit ?
Please read all to understand what we can do for you
Having a Panama bank Account is mandatory if you need to live in Panama, or you need to request a Panama Permanent Residency Visa, as the Bank account in Panama is a mandatory requisite to start the immigration procedure and the Panama visa application. Panama has more than 42 years with a major international banking center, making the process of opening a bank account in Panama a fundamental tool for managing movements and transactions. Immigration Authorities requires you to have a Panama Personal bank Account where you have deposited at least 5000 USD as a Solvency Proof, in order to require your Panama Residency Visa and your Panama Identity Card ( Panama Cedula - E) . So how open a Panama Offshore bank account ? Panama banks are not easy going institutions like in US or Europe. It is common to compare both worlds, but please remember you are trying to live in a Latin American Country, where bureaucracy and work papers rules in the society. Just keep calm and try to accomplish with local requirements. Do not try to understand them. Just satisfy them.
First of all, as the opposite of US or Europe, in Panama you can´t open a bank Account online. You need to be physically present in the nation and in the local branch.That means take in some cases, appointments. Also banker sometimes only speak spanish, so please be very careful and try to learn some spanish. Then Panama banks are requiring a Legal Panamian Lawyer representing you, referencing you when trying to open a Panama Bank Account. Understanding this will put you in a very comfortable position as the other requisites are just papers you need to produce to make happy the Panamian bank.
Required documents to open a Panama Bank Account are :
- An Apostilled Proof of Solvency
- Your passport
- Your ID card
- If American your SSN
- Your International and national Address ( we will provide one)
- A Bank Reference Letter Apostilled from your bank ( in English is fine)
- A Tax declaration in you Country, apostilled and translated into spanish
- A proof , from your lawyer that you are starting the Panama Residency Application .
- 5000 USD in cash to deposit .
A local Panamian Company documentation, if trying to apply for a corporate panamian bank account .
Panama’s banking system is considered one of the most stable in the world, and is the most important in Latin America. Panama Banks are safe. Bank accounts in Panama are safe. This can be attributed largely to the fact that it is difficult to obtain a banking license. Panama is one of the few countries that have remained stable since the start of the global economic crisis, with positive numbers and growth rates. Savings accounts usually have around 3.7% annual interest, which is quite good. CDs (Certificates of Deposit) can offer up to 5.5% annual interest.
There are several features that have contributed to the development of the banking sector in the country, such as:
The protection of privacy and confidentiality that is offered to clients.
Free circulation of U.S. dollar as legal tender.
The principle of territorial taxation.
The enactment of special banking laws that encourage their development.
The absence of exchange controls on entry and exit of capital.
Interest earned on bank deposits in Panama are always tax free.
A professional, competent and highly self-regulated banking culture.
Can I open a Panama bank Online Remotely ?
Can I open a Panama Bank Account without a Panama Residency ?
Yes you can open a Panama Account remotely online with our help and legal reference, It is not common in the Panama Bank sector to open remotely, but we are in partnership with one of the best private Panama bank, that accept working with us and provide remote opening bank account to our customers. In that case the Panamian Bank require at least 20k USD to be deposited during the next 30 days after the account opening. The total price for that procedure is 2000 USD dollars.
Open a Panama Bank Account online, remotely without residency it is a time sensitive occasion you should enjoy right now. It is an option for that expats or investors that are not able to travel to Panama during this Covid-19 era and during the next post Covid-19 era . You should pay attention that no one other Legal Office can provide a remote opening procedure now and that is a great moment to consider diversificate your money.
To open remotely and online a Panama Bank Account contact us right now.