Panama is one of the great banking centers of the world. There are more than l35 different banks operating in Panama. Citibank, HSBC, Dresdner, Bank of Tokyo, Bank of Boston, and International Commercial Bank of China,as well as the Panamanian banks, offer a wide variety of banking services.
Personal Bank Accounts
The following are general requirements for opening a personal account in a bank in Panama:
A personal interview. An inquiry as to the source of the funds.
Photocopy of passport for each signatory.
Two Financial Reference Letters from any bank, brokerage firm, or credit union.
Two Professional or Commercial Reference Letters from your attorneys, accountants, financial consultants, or any company(s) that you have a business relationship with.
.Signed Account Applications.
In order to open a resident corporate account the following is generally required.
A personal interview.
A clear copy of the passport, as well as one other form of identification for each director and signatory on the account.
Two bank references for each beneficial owner and account signatory.
Two professional references for each beneficial owner and account signatory.
Brief details of the applicant's business. An inquiry regarding the origin and source of the funds and the reason for opening the new account in Panama.
Nonresident or "Offshore"
These accounts are used by nonresident corporations which will not do business in Panama.
Contact us if you would like additional information about banking in Panama
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