Panama Offshore Banking

Panama Offshore Banking

Banking and financial services have always been a fundamental pillar of Panama. Panama boasts superior banking laws as well as a thriving economic and business climate, which is supported by solid regulations and a stable government.

Why offshore banking?

While offshore bank accounts can be an effective means to safeguard your assets, they offer many additional benefits as well.

Key benefits of using of an offshore bank account.

  • The ability to invest in commodities, foreign stocks, government bonds and mutual funds that may not be available in your country of residence.
  • Diversification of investments.
  • Foreign capital gains and global real estate investments at reduced tax rates.
  • Protection of assets from foreign claims and domestic lawsuits.

Offshore Banking in Panama.

There are also many advantages that are specific to offshore banking in Panama, which are explained below:

  • Panama banking is subject to above standard privacy regulations.
  • It is very possible for a foreigner to open a bank account in Panama either on its personal name or on behalf a corporate entity.
  • Panama is currently one of the leading financial business centers in Latin America.
  • The U.S. dollar has been the official currency of Panama since 1903, which eliminates foreign exchange controls.
  • Panama is home to a large foreign community and has a booming local economy.
  • There are a multitude of options for asset protection in Panama including offshore corporations, private interest foundations and trusts.
  • Panama offers a variety of government sponsored foreign investment incentives.

Our related services.

We understand that usually having a corporate bank account is a fundamental part when having an offshore company. Our firm offers the following services for clients interested in opening a Panama offshore bank account:

  • Panama bank referrals.
  • Assistance with obtaining any corporate documents required for banking purposes.
  • Nominee director services.
  • Signature and completion of bank forms by the nominee directors.
  • Personalized tax planning advice and guidance.
  • Protections of assets and privacy concerns.
  • Investments and brokerage accounts referrals.
  • Private banking services referrals.

Although advancements in technology and the Internet have simplified the process of opening and managing an offshore bank account, Panama banks are purposely quite conservative when opening bank accounts, as they are required by law to know very well their clients and their business activities.

Our firm can guide you through the process of establishing an offshore account with high rated banks in Panama, however, we would like to clarify that the services of our firm do not extend to opening bank accounts but instead focus on client referrals and assistance with the necessary documents required by the banks.

 Disclaimer Notes.

  • Our firm can make referrals to banks in Panama. However, the process of opening the account and related requirements is strictly dependent on the banks and shall be arranged directly between client and bank.
  • Bank referrals are only available to corporations that have been established through our firm.
  • Opening a corporate bank account in Panama typically could take between two to four weeks. (This would depend on each bank internal processed and policies).
  • Clients must comply with a number of regulations in order to apply for a corporate bank account.
  • The bank is responsible for the final decision regarding account approval.