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WHY BANK IN PANAMA?
BANK STATEMENTS: WHERE DO THEY GO?
HOW TO SET UP A PANAMA BANK ACCOUNT
WHERE DO I BANK IN PANAMA?
BANK IN USD OR EUROS?
PANAMA VIRTUAL OFFICE
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 HOW TO SET UP A PANAMA
BANK ACCOUNT
- Prepare two bank
references addressed specifically to the bank for which you're applying.
Don't address them "To Whom It May Concern," because they won't be
accepted by the bank in that manner. The reference should state that
you've been in good
- One trade reference
is recommended from your accountant or attorney.
- $5000 initial
deposit.
- A personal interview
is required by the bank if it's respectable. Be prepared to answer
questions, such as:
- Where is your
business in Panama?
- How did you earn
this money?
- What do you sell,
distribute, ship, or market?
- How much do you
anticipate is the volume of the transactions in a given year? How
many transactions per month?
- Why Panama?
Answer: Colon Free Trade Zone, tourism, legal counsel, internet,
infrastructure, shipping.
- Pick a bank that
isn't too easy in forming an account. The banks that are very
careful are exceptionally stable, and less likely to run into regulators.
- You may be asked to
sign a statement that you intend to comply with the laws and regulations
of your home country.
- Ready your passport
and other ID to make a deposit.
- Set up an account in USD
and in Euros.
- Your attorney should
handle all bank arrangements, the application process and the introduction
to the bank.
LIC. ROBERTO I. GUARDIA
R.
ORILLAC,
CARLES & GUARDIA,
Abogados-Attorneys at Law,
Ave Samuel Lewis y
Calle 58 P.H. Torre ADR Technologies, Piso 7, Office 7-A, Apartado
0816-04373
Panama 3, Republica de
Panama
Office:
507.263.3917
Cell: 507.612.5429
Fax: 507.263.3924
FREEDOM@PANAMAG.COM
>
WHERE DO I BANK IN PANAMA?
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LIC. ROBERTO I. GUARDIA R.
ORILLAC,
CARLES & GUARDIA,
Abogados-Attorneys at Law,
Ave Samuel Lewis y
Calle 58 P.H. Torre ADR Technologies, Piso 7, Office 7-A, Apartado
0816-04373
Panama 3, Republica
de Panama
Office:
507.263.3917
Cell:
507.612.5429
Fax:
507.263.3924
FREEDOM@PANAMAG.COM |
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)
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