Cosa è una residenza Fiscale ?

La residenza fiscale è il “luogo in cui la persona ha la sua dimora abituale” mentre il domicilio fiscale è il luogo stabilito dalla persona, come sede principale dei suoi affari e interessi e come luogo per ricevere la notifica di tutti gli avvisi e comunicazioni ufficiali dell’Agenzia delle Entrate.

Perchè è vantaggioso chiedere una residenza fiscale ?

È vantaggioso possedere una o più residenze fiscali per la possibilità di gestire un´attività offshore o differenti attività offshore coordinandole con il fisco più idoneo a quella attività. Non è una semplice questione di pagare più o meno imposte, ma di poter avvantaggiarsi di Free Trades, sotto forma di convegni, trattati di libero scambio e anche imposte differenti e spesso pari a Zero. Per il soggetto provato invece , una residenza fiscale gli permette di decidere dove essere tassato ed in base a cosa, ritenendo un luogo più opportuno rispetto ad un altro.

Devo aprire una società per fare la residenza a Panama ?

lL convegno a cui, voi, come italiani vi rifarete per chiedere la residenza permanente a Panama si chiama ” Trattato di Amicizia ” in termini gergali e ufficialmente ” Convegno di Commercio e Navigazione Panama Italia”. Come noterete il nome legale fa enfasi sulla parola commercio e navigazione. Il convegno fu creato per garantire due cose : la residenza e poi la cittadinanza a Panama degli Italiani. Per ottenere la residenza e poi avere diritto alla cittadinanza, gli Italiani devono dimostrare un legame ” Commerciale” con la repubblica di Panamá. Questo obbliga all’ apertura di una società di cui voi siate unicamente i veri proprietari e unici azionisti ( o azionisti al 50%) di una società, una e una sola .Questo requisito spesso viene non compreso o volutamente omesso da advisor da strada, come chiamati a Panama, ovvero le ultime risorse che cercano clienti , il cui scopo non è di garantire un procedimento legale di trasferimento a Panama, ma lucrare sulle spalle dei poveri clienti che per risparmiare sulla società accettano il rischio . Cosa succede ? Essenzialmente il cliente non paga la società, ma solo il procedimento legale per l’ ottenimento della residenza . Il suo advisor forse solo una front page di qualche studio legale poco fortunato, utilizzerà una società riciclata centinaia di volte cambiando le azioni della stessa a nome dell’ ultimo malcapitato. Il malcapitato procederà all’ ottenimento della residenza che inizialmente gli verrà fornita. Dopo 1 o due anni a una consueta revisione della migrazione, si scopre che la stessa società di cui il cliente non ne sapeva nulla viene messa in black list per i troppi casi di clienti divenuti residenti tramite la stessa residenza . Il risultato , annullata la residenza, e impossibilitato a riottenerla per il resto della sua vita. Peggio se si arriva allo scadere dei 5 anni, e alla richiesta di cittadinanza si effettua la revisione dei requisiti passati e si scopre se non si è fatto prima il caso di negligenza voluta ma occultato al cliente. Ecco quindi un tipico caso di ” offerta last minute” in cui cadono in numerosi.

It has true bank secrecy : Opening an account in Panama offers bank secrecy only to its foreign residents and Panamanian citizens . The bank account in Panama allows you to carry out transactions with respect for privacy. ( Panama Banking Law ). Opening an account in Panama offers the possibility of having an account that does not have an IBAN , therefore not subject to the automatic information exchange to which accounts in Dubai or Malta are subject, for example. Furthermore, the account in Panama does not have European intermediary banks, but only those of the United States, so the transactions are completely outside any European IBAN circuit. This type of transactions are not possible for example in Dubai, Malta, Qatar, Europe.
The account in Panama is a Dollar and Multi currency account. The account in Panama is opened in dollars initially and then in EUR or other currencies upon request
To open an account in Panama you must be a resident of Panama: The current account in Panama can only be opened if you have requested residency or are already resident in the country. It does not require bills or utility bills or a specific address but does require a Panama residency permit and a bank reference in English. Opening an account in Panama costs 400 USD included in the residency procedure. Therefore, opening a Panamanian account as a resident allows you to avoid the CRS and the TIEAs in a legal and transparent way. To open an account in Panama it takes about 30 minutes at the bank in Panama with us, once you have started the process as a resident of Panama or directly online in 5 minutes if you are already a resident. The fact is that other countries allow you to open as both a resident and a non-resident (Malta, Dubai for example) indicates that nothing changes for the bank in terms of privacy. Privacy essentially does not exist whether you open as a resident or not in these countries. The customer remains exposed. The Panamanian banking system, known as one of the oldest systems, has clarified since 2015 that only residents or those in the process of residency can open an account in Panama. You will open an account in Panama with your local residence. In total privacy. The difference between a solid and honest system can be seen in these details
Safe
The account in Panama allows international and national in/out transfers also via app
Opening requires physical presence in Panama for the future account holder and a cash deposit of USD 5,000 to activate it. The money is yours and withdrawable immediately after opening
An account in Panama is an indispensable and mandatory requirement for obtaining residency in Panama
Remote account opening from home: We can open a bank account in Panama for you without your presence, without leaving your home, the limitation of this account is the handling of no more than 5,000 dollars per month because you will not be a resident of Panama.
Deliberately liberal and dollarised banking law, with bank secrecy. When choosing between an offshore account of various countries also think about the existing banking law, Panama has the oldest banking law in the world after Switzerland, which protects privacy. Furthermore, in Panama there are no conservative or religious laws on the type of use that is made of the bill. For example, in Dubai, Qatar and the United Arab Emirates in general, the laws are Muslim laws, there is no international law, there is no right to appeal and accounts are easily blocked. Panamanian Banking Law : Source

Opening Bank account in Panama

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Opening Bank account in Panama

How to open an account in Panama

The rules that govern the bank account opening procedure in Panama are manifold and come from Panama's banking law, the internal legislation of the individual institutions and the international agreements and treaties of mutual exchange of financial and banking information. There is no specific law but a series of provisions that normal the account opening procedure. The law that rules the bank in Panama is the law called Banking Ley decreed by means of decree 52 of 2008

In general, the rules to open a Panama bank account require being able to meet the bank and its legal and patrimonial requirements.

By legal requirements are meant:

Residence permit in Panama
Address in Panama
Telephone working with Whatspp active on Panamense number in your name and surname
Cedula and (Panamense identity card)
Physical presence (fingerprints and branches in branch)
Various documents that the bank can discreetly ask each customer as a last tax return or paycheck

By property requirements are meant:

Minimum deposit that satisfies the lighting of the bank account (min. 5000 USD for residency applicants)
Any accounts and bank references of other institutions of which you are already a customer

Our law firm for every customer who receives, complies with all the legislation and requirements, but having years of operation with various Panamense banking institutions, we open private accounts to our customers with the only document certifying the start of the practice of obtaining residence in Panama, or; if already resident, with the only residence permit. All in 30 minutes of presence in the bank.

If you are convinced of opening a bank account in the bank in Panama and then asking for residence in Panama sauté this article and move on to the requirements to take a residence in Panama.

Errors to avoid to open an account in Panama

After decades by operating in the banking sector we know our customers well and the errors that make the beginning when they try to open an account in Panama. We list the most common errors in opening a bank account in Panama:

Solving bank diligence: banks apply rigorous filter methods for each customer, AML, Fincen, Search Si Google, Wordcheck by Thomson Reuters, bank references, proofs of origin of the funds, social networks etc. It is necessary to be transparent and precise with the banks
Do not show up with a local expert legal contact person: if you enter the bank alone, the banks will not take them into account. In Panama and in many countries outside Europe, especially in the Americas, banks require that a legal contact person, a customer's legal representative to accompany the future customer by removing it to the Institute and making the really useful and functional documentation for opening.
Open account in the wrong bank: each bank offers a certain type of service. Some banks are banks for national banking, others have offshore license, others are national capital and others have foreign capital. Some do not accept foreigners even if residents, others accept only local workers with paychecks.
Omitting its own tax condition: Panama is member adhering to the CRS. The Standard Common Reporting. Do not indicate your country of royal tax residence leads to the subsequent closure of the account. That's why thanks to our study your only country of tax residence will be Panama without risk of CRS.
Asking or attempting to open the account remotely online and from your country of origin: the accounts operable online do not exist and also for the citizens of Panama a completely functional and limited account decreases to be opened with the recognition in the bank with photos and fingerprints taken at the moment. It is certainly possible to open remote account, in some cases they will be limited in operations and volumes, in other cases if fully operational will have a very high account because they can only be open through a legal lawyer who carries on the procedure that will also last several days.

Studio Panama Italia , as a Panamanian firm present in the territory of Panama, guarantees the opening of personal current accounts in Panama as a resident. Opening an account in Panama is useful for many situations. You therefore need to know how to open an account in Panama. First of all, let's distinguish between a personal account in Panama and a corporate/corporate account in Panama. A personal account in Panama means an account opened in your own name (name and surname as indicated on your identity document). It is also the bank account in Panama that is opened by default by applying for permanent residency in the country, as the personal Panama account is a real legal requirement to apply for and then obtain residency in Panama. The personal account in Panama is opened in the major banks of Panama, therefore at national and international institutions of the highest rating. Normally the banks where we will open are Banistmo, Banco General, BAC Credematic, ScotiaBank.

We clarify that HSBC does not exist in Panama, as unfortunately we receive requests to open accounts in this bank in Panama. HSBC once existed, but for years now it has been bought by the Bancolombia Group, which operates in Panama with Banistmo which has taken over the reins of HSBC for 10 years.

A corporate account in Panama, on the other hand, is an account in Panama opened by a company. In that case it takes more time to open it. We immediately clarify that the company account in Panama can only be opened if the company actually operates in Panama, has a lease in Panama and carries out an activity truly linked to the territory. Working offshore in Panama definitely requires a company with an account.

Opening a Bank Account in Panama: Privacy, Security and Opportunities

Find out how to open a personal bank account in Panama , the leading country for financial security and absolute privacy. Thanks to stable legislation and unique advantages, protect your savings and access high-quality international banking services. Ideal for investors, digital nomads and those seeking asset diversification, an account in Panama offers you privacy and flexibility to manage your funds without borders. Benefit from a solid, discreet banking system designed to guarantee peace of mind and protection. You can apply for your account today and protect your financial future.

To open a bank account in Panama, the residence is needed to obtain a residence in Panama. Opening a bank account in Panama is mandatory if you want to take the residence in Panama, move to live from Rentiers, invest, ask for mortgages and loans, have credit cards and be a recognized subject at the APC of Panama. An example of the importance of an account in Panama is the search for your credit story by third parties who can help you get bank loans for the purchase of properties. If you have not an account in Panama you could not be recognized as subjects by right to loan. There is no another way to open account in Panama if not take residence in Panama. In Panama they do not open accounts to non -residents. So for a personal account in its own name and surname in Panama, you must continue with the normal request for residence in Panama.

Open personal account in Panama

Panamanian bank accounts for personal use are usually opened through our recommended Panamanian banks. Most major Panamanian banks that we can recommend require customers to be a citizen or resident of Panama (or in the process of obtaining Panama residency) to open a personal bank account in Panama. Most of our clients who open personal bank accounts in Panama are Panama residents or are in the process of applying for Panama residency, and naturally need a Panama bank account to qualify for residency, pay local Panama bills and doing business in Panama.

Account opening procedure in Panama

Banks in Panama are very conservative and highly formal when it comes to opening bank accounts for foreigners and place great importance on due diligence of each customer to ensure they follow the correct procedures in accordance with the “Know Your Customer” (KYC) and the laws of Panama. Consequently, it is very common for banks in Panama to require each customer to come to the bank for a personal interview and provide the following documentation:

Documents needed to open an account in Panama

Two forms of identification: passport and driving license, for example.

Proof of source of funds or source of your income – this could be copies of last years tax returns, audited financial statements, etc.

Proof of your residential address: This could be your utility bill showing your name and address, for example.

Panama Proof of Residency or Residency Application: If you are already a resident, you would provide your Panamanian Identity Card (cedula), or if you are in the process of obtaining residency, our law firm would provide a letter certifying that you are in the process of applying the residence. In this case, proof of address is not required

The minimum deposit required to open a bank account in Panama will range from $100 to $10,000 depending on which bank in Panama you choose to go with and whether or not you decide to use a private Panama banking service (offers more personalized Panama banking services usually with certain premium investment or deposit options), or if you prefer to use standard banking.

The process of opening a bank account in Panama can take anywhere from 1 hour to a few days, depending on whether or not the paperwork is complete and the banks compliance department has approved your account, or if they require additional due diligence documentation or have further questions about your banking needs, etc. We open in triple A banks, the first 2 in the country and normally within 1 hour for all customers who bring complete documentation with them.

Personal account in Panama: the requirements for Italians

At Studio Panama Italia, we always guarantee opening an account in Panama at the first bank in the country with only the bank reference and two original personal identity documents in less than 40 minutes. Also read our FAQs.

We remind you that to open account in Panama you need to be accompanied the first time by a local lawyer in Panama like our lawyers of Panama Italia Studio. Be wary of those who propose themselves as an international law firm but are based in Italy or Europe. They can't open the bill and they won't open it to you. Furthermore, by law they cannot maintain the secret customer lawyer as we from Panama, we can. Furthermore, you risk giving your documents to those who do not know that to open an account in Panama you need to proceed with the residence in Panama and therefore it will not escape the practice or if it will do it will do so through third parties in Panama, increasing considerably not only the costs, but the risks of wasting time and never see it open. We therefore clarify that a lawyer in Italy cannot open an account in Panama to anyone. In general we accompany customers personally to the bank and personally proceed to present the customer to the banking direction. In about 30/40 minutes the account is always open to our customers and the procedure that we conduct as well as rigorous is very simplified thanks to the many years of mutual respect between the law firm and the banking partners with which we work.

The residency in Panama and the Panamanian bank account

Opening a personal account in Panama involves doing so while applying for residency in Panama. The law obliges it and for you they are only beneficial as you will avoid the exchange of information for non-residents of Panama when you open it as a resident. It's done in 30 minutes.

Perfect bank secrecy

Yes, the account in Panama has banking secrecy. It exists, it is well, but only for residents of Panama. It does not have IBAN, like the banks in Dubai, therefore it does not have European intermediary banks which are without banking secrecy and it does not receive on IBAN accounts like in Dubai which are always excluded from banking secrecy because they are under the control of the European Central Bank. Bank accounts in Dubai are often mistakenly sold by uncertain professionals in Dubai with the excuse that they have banking secrecy, but this is not true . Always doubt about opening an account in Dubai as they don't have bank secrecy. The only accounts with bank secrecy are in Panama.

Dollar and multi-currency account

The basic account is in US Dollars. You can easily ask for multi-currency activation in EUR and other international currencies later

Corporate account

The Panama Corporate Account is the corporate account for your company in Panama. Keep in mind that a physical presence in the area is needed for this type of account, banks in Panama have long avoided opening accounts for companies that are not physically present in the area. Forget online or remote or ¨consulting¨ accounts

Account in Panama for your foundation

We can easily open an account for you in Panama for your Panama Private Interest Foundation. In this sense there are no particular constraints and in about 50 days the account is opened

Instant opening

Instant Account Opening in Panama: it takes about 30 minutes and with us only one document. Your passport. This is in relation to the personal bank account in Panama.

Personal or company account in Panama

Corporate or corporate bank account in Panama

Many wish to open a Panama company bank account. Many investors or entrepreneurs open companies in Panama, often in conjunction with their Panama residency procedure and wish to open a Panama company bank account. Opening a Panama company with a bank account in Panama is possible but you need to be patient and scrupulously accept some of the requirements that Panama asks for.

Corporate bank accounts in Panama are accounts opened to Panama companies. For this reason Panamanian corporate bank accounts can hardly be opened to non-Panamanian companies. We said difficult, but the process is by no means impossible. As far as Panamanian companies are concerned, the requirements to open a corporate account in Panama are:

Two forms of identification: passport and driving license or national identity card, for example.
Proof of source of funds or source of your income – these could be copies of your last years tax returns, audited financial statements, etc.
Proof of your residential address: This could be your utility bill showing your name and address.
Panama Proof of Residency or Residency Application: If you are already a resident, would you provide your Panamanian Identity Card (cedula), or if you are in the process of obtaining residency, our law firm would provide a letter stating that you are in the process of applying for residence. It is now impossible for a shareholder or director of a Panamanian company to open an account if you are not a resident of Panama.
Business Plan: A brief business plan explaining what products or services your company provides, your primary target markets, your financial projections, and your estimated banking business.
Company documents: Memorandum of incorporation, new memorandum of incorporation, company resolution authorizing the opening of the account, declaration of shareholders or beneficiaries, etc.
Reference letter from your law firm. The minimum deposit required to open a business bank account in Panama will range from $1000 to $10,000 or more, depending on which bank in Panama you choose to go with and whether or not you decide to bank with private banking in Panama (offers more personalized banking services in Panama usually with certain premium investment or deposit options), or if you prefer go with the standard banking service.

It takes approximately 8 weeks to open a corporate account in Panama. For more information on residency in Panama, procedures and visas click here

If you want a corporate account, i.e. in the name of a company also in Panama, you should open an offshore account outside Panama.

Open Panama Company | Open LLC USA | Open Offshore Account | Open Offshore Company .

*Panama bank account opening requirements are subject to change at the discretion of the bank. Currently our success rate for opening a bank account in Panama is 100% as a local firm we have built relationships over the years with the management of many banking institutions in Panama. . It remains a legal obligation on Panamanian industry professionals to clarify that opening a bank account in Panama is not guaranteed and is subject to bank policies and the compliance department. There may be restrictions on UBO nationalities, business activities and/or jurisdictions. A refund is guaranteed if the account is not successfully opened, but a 15% administration fee will apply.

What are the characteristics of the account in Panama

The main features of the account in Panama are:

Currency account USD , US dollar
They have international SWIFT
Account in Panama offers ACH transfers between banks in Panama with instant deposits
The account in Panama offers both IN and OUT international transfers
Panamanian accounts all have deposit accounts
Once you have opened an account in Panama, you can apply for credit cards and loans

How much does it cost to open a bank account in Panama?

The cost of the bank account in Panama is 400 USD, included in the procedure for obtaining residency if you are still a non-resident.

SWIFT Codes for banks in Panama

The main SWIFT codes of banks in Panama are used to identify the Panama bank, the headquarters and allow the sending/sending foreign bank to send the international bank transfer safely and accurately to the relevant Panamanian banking institution. The Swift Code is a unique code that identifies all banks in the world and allows them to carry out international transactions between them without receiving problems. When issuing a bank transfer, for example from Italy to Panama, you need to know which bank you are sending the money to. Your Italian bank will then ask you for the SWIFT code of the receiving bank in Panama. By doing this, make sure you give the most important information followed by the account number of the final recipient of that transfer

BANISTMO SWIFT ▶︎ MIDLPAPAXXX BAC CREDOMATIC SWIFT ▶︎ BCINPAPAXXX BANCO GENERAL SWIFT ▶︎ BAGEPAPAXXX

CREDICORP BANK SWIFT ▶︎ CRLDPAPAXXX TOWERBANK SWIFT ▶︎ TOWEPAPAXXX

KTT Transactions in Panama

KTT transactions in Panama and Swift among others are the typical transfers performed by banks in Panama. Our customers often look for accounts that they can receive in KTT and issue-send transfers and transfers via Swift. This is possible in Panama. Clearly making KTT transactions and transfers in Panama requires having an account authorized to receive or issue KTT transfers from Panama. while all, 100% of the banks in Panama receive and issue swift transfers. To access a bank in Panama that can receive KTT transfers and then transfer them via Swift to any other bank in the world, you need to proceed in order. Firstly we ask you to contact us via whatsapp directly at the number at the top of this website and then proceed accordingly:

issue payment via paypal to info@studiopanamaitalia.com equal to EUR 450
You will receive a time and calendar day for a private call where you will be given the names of the banks and how to proceed with opening the account as well as the name of another banking institution outside Panama that opens accounts without a lawyer for transfers via KTT.

In which bank in Panama should I open an account?

When you are preparing to open an account in Panama you are interested in knowing which banks operate in Panamanian territory and which accounts and options they provide to their customers. The banks operating in Panama with date 2024, month of August are:

Allbank Corp
BAC International Bank, Inc.
Balboa Bank & Trust Corp
Banco Aliado SA
Banco Azteca (Panama), SA
Banco BAC de Panama, SA
Banco Bolivariano (Panama), SA
Banco Citibank (Panama,) SA
Banco Davivienda (Panama) SA
Banco de Bogotá, SA
Banco del Pacífico (Panama), SA
Banco Delta, SA
Banco Ficohsa (Panama), SA
Banco G&T Continental (Panama) SA (BMF)
HIPOTECARIO NACIONAL bank
Banco General, SA
Banco Internacional de Costa Rica, SA (BICSA)
Banco La Hipotecaria, SA
Banco Lafise Panama SA
Banco Latinoamericano de Comercio Exterior, SA (BLADEX)
National Bank of Panama
Banco Panama, SA
Banco Panameño de la Vivienda, SA (BANVIVIENDA)
Banco Pichincha Panama, SA
Banco Prival, SA (Español) or Prival Bank, SA (english)
Banco Universal, SA
Bancolombia SA
Banesco SA
BANISI, SA
Banistmo SA
Bank Leumi-Le Israel BM
Bank of China Limited
BBP Bank SA
BCT Bank International SA
Caja de Ahorros
Capital Bank Inc.
Citibank, NA Branch Panama
Credicorp Bank SA
FPB Bank Inc.
Global Bank Corporation
Korea Exchange Bank, Ltd.
Mega International Commercial Bank Co. Ltd.
Mercantil Bank (Panama), SA
Metrobank, SA
MiBanco, SABMF
MMG Bank Corporation
Multibank Inc.
Produbank (Panama) SA
St. Georges Bank & Company, Inc.
The Bank of Nova Scotia (Panama), SA
The Bank of Nova Scotia (SCOTIABANK)
Towerbank International Inc.
Unibank, SA

These are both locally and internationally licensed banks. Once the customer has his Cedula E and at least 6 months of bank reference with another bank in Panama, he can open an account with any institution that offers accounts to natural persons. Alone and without the help of the Law Firm. But when you open your first bank account you need to be introduced during the residency procedure by a proven law firm that acts as the client's legal and financial contact with the banking institution. In these terms, Studio Panama Italia opens an account with one of these institutions chosen by the client:

Banistmo (Bancolombia Group) the largest bank in the country

Bac is a bank with branches in Central America as well as Panama

Banco General, a solid institution also based in Costa Rica

How to receive or send money to Panama?

To send money to Panama you need to send it to a bank in Panama. So to receive money in Panama on a Panama bank it is possible to either receive it locally by receiving a transfer from another bank in Panama or receiving money through an international transfer made by a bank present in another country for example in Italy or Spain or the United States. All banks in Panama receive international wire transfers and all banks in Panama make and send international and domestic wire transfers. Unlike banks in the European Union, banks abroad, such as banks in the United States and banks in Panama and any other country outside Europe, do not have an IBAN number. But it has a numeric account number of a few digits and a code for receiving international bank transfers called SWIFT or BIC. When you send an international transfer to a bank in Panama, therefore when you send money to a Bank of Panama or receive money on a Bank of Panama you will have to give the sender or the person who sends the international transfer the account number and the swift code of the bank of Panama. Let's give some examples:

How to receive or send money to Banistmo Panama

To send money to Banistmo or receive money into your Banistmo account from abroad, you must provide or enter these details in the "International Transfer" section of the sending bank outside Panama:

Banistmo SWIFT code: MIDLPAPAXXX

Account Number: the account number that the beneficiary of the Banistmo account will give you

If you also want to send through a specific intermediary bank you can enter the optional data here:

Bank account questions in Panama

Based on our experience over the years, these are the most common questions our customers have about their account in Panama

Can I open a personal or corporate bank account in Panama for the Internet?

No, even if the process can be started online in some institutions, it must always be completed in the branch. Whatever account you decide to open and in whatever capacity you present yourself, whether a foreign resident or a citizen of Panama, to open an account in Panama you need to present yourself personally with the Cedula E or Cedula N and have your fingerprints and photo taken at a digitized branch.

What documents are needed to open a bank account in Panama?

It depends both on the type of account, whether personal or corporate, and on the bank where you present yourself. For personal accounts you need the Cedula E, therefore taking up residence in Panama if you are not a citizen of Panama and therefore foreign, or Cedula N if you are a Panamanian citizen, bank reference, latest tax return, employment contract. For businesses you need the complete set up of the Panamanian company's banking documents, the shares in your name, the presence in the bank of all the company's directors (in Panama there are 5), a CV, a 5-year Business Plan, bank reference of each shareholder and board of directors of the Panama company. Real username in the name of the company with real address that the bank can then investigate and send to be checked by a bank representative, telephone number in the name of the company, website, email address of the company, name of external collaborators.

Who can get access to Panama bank account?

For the personal account in Panama, only the owner who has been identified in the branch has access. For the corporate account, the shareholder(s) accesses only for viewing access without the possibility of making transactions, visual and operational access is given to the manager/CEO designated for this in the branch through the official designation by the shareholders.

Which is the best bank in Panama for private clients and businesses?

Panama has a solid banking tradition with an international vocation whereby both private clients and businesses can manage any banking activity with any bank in the country. The most solid banking entities for business purposes are Bac Credematic, Banistmo, Credicorp Bank, ScotiaBank. For private individuals Banistmo, Bac Credematic and Banco General Tower Bank.

Why do businesses open bank accounts in Panama?

Panamanian banks are indispensable for operating offshore and onshore in the global landscape. Furthermore, they are institutions that can easily handle exceptional amounts of money easily without due diligence problems. If you manage to open an account in Panama for a company there are no deposit and withdrawal limits and depositing 100 million dollars in a corporate account one day and withdrawing 50 the next day does not create obstacles or problems with the bank.

6. Is there banking secrecy in Panama?

Panama currently has banking secrecy, considered the strongest banking secrecy not only in the Americas but in the entire world.

Open account in Panama for Mt 103 + FTP transfers

Opening an account in Panama is also useful for demanding customers who require specific banking transactions that respect the MT 103 + FTP type Swift format. Banks in Panama allow you to open accounts with this swift message mode included in all types of bank accounts from personal to corporate. Opening an account in Panama with Swift MT103+ FTP is therefore possible. For more information just contact us

Open account in Panama for investment

Opening an account in Panama for investment on the global financial market and especially on the US stock market is feasible and particularly easy. Opening an account in Panama to invest in the largest and most liquid market in the United States allows on the one hand to operate in the same currency as Panama and the USA use the same currency, the American dollar, and on the other it allows you to benefit from a local branch to Panama with which to interface with an office and branch in the United States of America. This allows access at equal or almost equal cost conditions from Panama to the US market without having to travel to the US or operate in English with a bank and the due diligence produced by the American bank.

Open Corporate Bank Account in Panama with the correct bank

When you decide to open a corporate account in Panama, therefore in the name of your company, you need to decide which Panamanian banking institution to go to and start the opening process. As legal experts who have been working with various Panamanian institutions for decades, we strongly recommend that you decide to open a corporate bank account in Panama with the following banking institutions:

Banistmo , Panama's first bank, owned by Bancolombia, Colombia's largest bank. Excellent Colombian and Panamanian customer service, best access costs to all corporate services, has the largest network of intermediary banks in the region.

Multibank , a Panamanian bank that makes international corporate operations its core business. Complete operation and the second largest network of intermediary banks after Banistmo available to companies.

CrediCorp Bank, an exceptional bank founded by Jewish capital and totally aimed at transnational corporate clients, has the third largest network of intermediary banks in the region. Multi-currency accounts available.

The three Panamanian corporate/business account banks allow MT103+ and MT103+ FTP transactions. Furthermore, at a corporate level they allow access to KTT accounts for selected companies and types of business. The banks mentioned above also fully adopt the MT103 GPI cash transfer.