Easy accessibility, low entry barriers, and remote bank openings make Panama attractive for offshore bank accounts and companies. An experienced Panama lawyer can offer professional, client assistance throughout the process of offshore banking. At Mata & Pitti, we act as the liaison between you and the bank and offer legal advice for foreign clients. Here are five reasons why hiring a lawyer for offshore banking in Panama is a good idea:
1. Expert Legal Advice
Mata & Pitti offers a team of experienced lawyers who help people seeking to open bank accounts and businesses in Panama. A lawyer can help you determine the ideal offshore bank account to open in Panama. They offer expert advice on what’s required to open a personal or business bank account. Lawyers can also help you with new incorporations and managing your Panama business accounts. Hiring a Panama attorney can help you stay compliant with the Panama laws and processes for creating and managing offshore bank accounts and assets.
2. Reliable Bank Referrals
One advantage of hiring a lawyer for offshore banking in Panama is their knowledge of local banks and their reputations. If you live outside Panama, the referral of a Panama lawyer can help you identify the best banks for your assets. Local lawyers are familiar with the different financial institutions, accounts, products, and perks available for offshore clients. They can also partner with banks to recommend customized accounts and services. Experienced lawyers also provide referrals for private banking services, investment opportunities, and brokerage accounts.
3. Corporate Documents Assistance
Opening and managing a bank account in Panama involves the verification of various documents. Attorneys can help you identify and obtain the necessary documents required for offshore banking. Documents banks may require include proof of source of funds, past tax returns or declarations, letters of employment, and bank statements. The paperwork needed depends on the type of bank account you want to open. Mata & Pitti lawyers can guide you through the paperwork process, giving tips for filing documents correctly to increase your chance of approval.
4. Nominee Director Services
Working with a nominee director can help you increase privacy within your offshore company and bank accounts. A nominee director acts on your behalf and maintains your legal responsibilities. Using a nominee director can help keep your name off public records, which helps to keep your accounts and assets private. Lawyers can help you identify the best investment firms to securely hold your money and assets on your behalf. They can also provide guidance on asset protection and other privacy concerns.
5. Break the Language Barrier
Spanish is the official language used by Panama banks, schools, and businesses. A lawyer can help you navigate the language barrier if you don’t speak Spanish. Some law firms have versatile attorneys who speak multiple languages to serve international clients. You can work with a multi-lingual lawyer to further understand the local banking processes, regulations, and paperwork in your language.
Hire an Experienced Panama Lawyer
An experienced Panama lawyer can offer legal advice and handle the paperwork required by banks and offices within the country. Mata & Pitti attorneys specialize in global-oriented legal services like international banking for worldwide clients. We have a team of experienced lawyers who have helped incorporate and manage Panama IBCs and PIFs since 1984. Our attorneys can help you understand how to open a bank account or company in Panama. We know and understand the laws of Panama and can assist with referrals, paperwork, secretarial work, and legal advice for offshore banking.