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BANK STATEMENTS: WHERE DO THEY GO? HOW TO SET UP A PANAMA BANK ACCOUNT
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Alaska LLC Charging Order Protection
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Offshore Bank Account Tips: Open separate offshore Panama accounts in Euros and in USD. Bring at least two bank references and two trade references to open your offshore Panama bank account. Be prepared to fully describe your business activities and where the funds originated. Each reference must be addressed specifically to each bank. A general letter will not do. Each bank reference to open the Panama Bank Account cannot be more than 30 days old. You'll need about $5000 USD to open the Panama bank account as the initial deposit. Choose a Panama bank where it's difficult to open the account. Banks that are known to be easy are more often scrutinized. Hire a Panama lawyer to facilitate the opening of the offshore bank account. He or she will help with the paperwork, the introduction to the offshore bank and the explanation as to why you're opening the Panama offshore bank account. The bank interview is face-to-face. Don't ask for a telephone interview. If a telephone interview is granted, you'll be asked to show up at the offshore bank, in Panama, within thirty to sixty days. The best reasons for an offshore bank account, in the eyes of the bank, is to buy real estate, start a business, or start a legitimate business project. Be prepared to answer these questions: Where is the business? (Consider a mail forwarding service or a virtual office in Panama.) Where is the money coming from? What do you offer, sell, market, or distribute? How many transactions and volume do you expect in the next six or twelve months? Why Panama? (Shipping, internet access, infrastructure, availability of legal counsel, e-commerce, tourism) |
