International Banking in Panama

Legal guidance for international clients, corporations and foundations navigating bank account opening in Panama.

Panama as an international banking platform

Panama has a consolidated international banking center, a dollarized economy, and a strategic position for clients seeking to manage corporate or wealth structures from a recognized jurisdiction in the region.

Opening a bank account may form part of an international strategy, subject to the client’s profile, the documentation submitted, and the bank’s final approval.

Explore the process according to your needs

Banking institutions

We assist clients in identifying suitable banking options based on the profile of the corporation or foundation and the client’s background, and provide introductions to established institutions where appropriate.

Documentation

Review the personal, corporate, and financial documents commonly requested by banks during their compliance process.

Banking FAQ

Find answers about interviews, timelines, approval, privacy, crypto-related businesses, and the role of our firm.

Key Considerations

  • Possible structures may include corporate and wealth-management related uses, depending on each bank’s criteria.
  • Financial services in U.S. dollars may be available, subject to each bank’s requirements and policies.
  • Possible institutional options for corporations, private interest foundations, and related entities can vary by bank and case.
  • In some cases, commercial banking, investment accounts, or private banking may be available, depending on the client’s profile and the institution’s policies.

How We Can Assist

  • Identification of institutions that may be appropriate for the client’s profile and purpose.
  • Guidance on documents commonly requested by banks.
  • Assistance obtaining corporate documents for banking purposes.
  • Support with forms when directors appointed by the firm are involved.
  • Support for documentation where commercial, investment, or private banking options may be relevant under applicable bank rules.

Important Information

Our firm supports the preparation of corporate and supporting documentation for the account-opening process. Requirements, timelines, minimum deposit and final approval depend exclusively on each bank.

Where applicable and within our mandate, we may assist with process-oriented steps for corporations or foundations incorporated through our firm, or for entities where we act as resident agent.

Related banking pages

Panama Banking   |   Bank Referral Services   |   Banking FAQ

Frequently Asked Questions

Can a non-resident open a bank account in Panama?
Yes, although due diligence standards are strict. Approval depends on the client’s profile and each bank’s internal compliance policy.
Do I need to travel to Panama to open a bank account?
It depends on the bank. Most allow remote onboarding through video call and apostilled documentation.
What documents do banks typically require?
Passport, secondary ID, bank and professional references, proof of address, and supporting evidence of source of funds.
How long does the account opening process take?
On average 4 to 8 weeks, subject to each bank’s internal compliance review.
Can I open an account for a corporation or foundation?
Yes. Corporate documents and the identification of the ultimate beneficial owner and authorized signatories are also required.

Contact

Contact us to discuss your legal needs in Panama.

OUR OFFICE

Advanced Tower, 1st Floor
Panama City, Panama.
In the Banking District, next to Hyatt Regency Panama City.

CONTACT US

+507 264.5570 | 264.5931
[email protected]
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