PANAMA BANK ACCOUNT INTRODUCTION SERVICES
After the incorporation of the company or foundation, our Business Panama Advisory Services team can arrange introductions to reputable international banks for the opening of bank accounts depending upon your business requirements, account activity, size of deposit of funds, etc.
Many customers still believe that opening a bank account in Panama is done in one hour and no documents are required. Probably that was 10-15 years ago. The reality today is that banks operating in Panama are strict and depending on the bank, it may take several days or weeks to open a bank account.
As a professional and responsible firm, below we explain you the current requirements in order that you have full information.
Please be informed that currently banks located in Panama follow strict “Know Your Client” rules and in case you decide to pursue opening a bank account in Panama, you must be prepared to comply with each bank’s requirements.
An outline of the requirements of banks we work with is provided below. We only will assist you with the introduction and guidelines. We can assist you with explanations and alternatives, if you have any questions.
REQUIREMENTS TO OPEN A BANK ACCOUNT FOR A CORPORATION
In order to better serve you and to avoid any possible delay in opening your account, we kindly ask you to review the following list of forms or requirements:
The client, with the assistance of our personnel, will have to complete the following:
A copy of the picture, signature page and all other pages of a valid passport are required. If the customer is abroad, the copy of the identification must be notarized.
In the case of a company, in addition to the above, the following are required:
Depending on the jurisdiction of incorporation, the Certificate of Incorporation, and Articles and Memorandum of Association must be notarized. If these documents are not in English, the bank will require suitably translated copies of these documents. We will assist you with producing or obtaining these documents.
The minimum deposit required to open an account is different from bank to bank. Please contact us for further details. Deposits exceeding US$50,000.00 should be sent by wire transfer. A declaration of source of funds should be provided for any single deposit in excess of US$100,000.00 or any deposit, which does not match a client’s normal course of business.
For more information, please contact us.
Disclaimer - We only make bank introductions for clients with whom we have an existing relationship, i.e. clients for whom we have or are incorporating companies, or for whom we have provided other services. You are aware that we do not guarantee the opening of any bank account nor do we guarantee the amount of time that the bank will take to open a bank account. We reserve the right to refuse a client.
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|Most photos are courtesy of IPAT and Alfredo Maíquez|