| You can obtain a Panama Bank Account without | | | | drawer. We can also arrange for you to have a |
| having to come to Panama! | | | | separate brokerage account in Panama with |
| | | | minimums as low as $25,000. USA passport |
| Documents Required - A copy of a Passport, | | | | holders can not have a personal stock trading |
| letter of reference from a recognized bank | | | | account - corporate or foundation only. |
| that is able to send and receive | | | | |
| international wire transfers and a letter of | | | | Type of Account - Offshore bank accounts in |
| reference from an attorney, accountant or | | | | Panama can be opened for a corporation or a |
| company you do business with on their | | | | foundation. Accounts can be opened for |
| letterhead. Any bank in the modern world | | | | personal, corporate or for a foundation. USA |
| using the international wire system will | | | | passport holders can not open personal bank |
| require at least this much documentation from | | | | accounts unless they actually reside in |
| a foreigner opening up a bank account in | | | | Panama and can document this. We always |
| their jurisdiction. For Bank Secrecy | | | | suggest the offshore bank account in Panama |
| information and corporate privacy read below. | | | | be opened using a Panama corporate structure. |
| | | | This way when wires are sent or received it |
| Panama Banks - Panama banks do open offshore | | | | can not be seen that you are the person(s) |
| bank accounts. Panama asides from being the | | | | behind the corporation. When you use an |
| number one retirement haven in the world is | | | | anonymous Panama Bearer Share Company the |
| also the world's foremost tax haven and | | | | ownership of the company is not recorded in |
| offshore bank accounts in Panama are the most | | | | any registry or public record database so no |
| coveted in the world today. All the banks we | | | | snooping entity can determine who is actually |
| use have online banking including sending of | | | | receiving the funds, and this makes for very |
| international wire transfers, checking of | | | | private personal banking. Recently there was |
| balances, history and other information. You | | | | a scandal in the media where it came out that |
| can get an ATM Debit card that is good | | | | the USA was monitoring SWIFT wire |
| worldwide for ATM withdrawals and it works | | | | transactions for some years. Monitoring a |
| for some Point of Sale Purchases. We work | | | | wire transaction to an anonymous corporation |
| with several different banks and savings and | | | | is fairly meaningless since nothing is known |
| loans in Panama. We do not discuss names of | | | | about the ownership of the corporation. If |
| banks until after a person becomes a paid | | | | the sending entity was also an anonymous |
| client, and all the required documents have | | | | corporation that would be a good working |
| been provided, please do not ask. Same | | | | definition of a dead end both ways. We always |
| applies to sending out bank forms, signature | | | | advise against personal offshore bank |
| cards, etc. We have a list of banks that we | | | | accounts in Panama for these reasons in |
| have a working relationship with where we are | | | | addition to the fact that a corporate or |
| able to have accounts opened without the need | | | | foundation bank account greatly enhances |
| for the parties to come to Panama. Some of | | | | asset protection but will work on personal |
| these banks are large multi-national | | | | accounts at the client's request. We can not |
| conglomerates with assets in the 100 Billion | | | | get personal bank accounts for USA residents |
| Dollar Range and others are small Panama only | | | | citizens. As an additional option one can |
| Banks that offers a more personal touch and | | | | open an offshore Panama bank account using a |
| banks with everything in between. We have | | | | Panama Foundation which is also anonymous. |
| never had a customer leave us because we | | | | |
| could not get them an account with a bank or | | | | Bank Account Signatory Verification - You or |
| savings and loan they felt was not suitable. | | | | your designated signatory(s) will be the only |
| Savings and loans in Panama insure account | | | | person(s) with access to your offshore Panama |
| balances up to $10,000 through the National | | | | bank account. What we do is have the bank |
| Bank, something like the FDIC in the USA but | | | | opened up as a zero balance account; no money |
| with lower insured amount. We can normally | | | | is in the account. Before you load the |
| have an account opened within 5 working days | | | | account with any funds we will show you how |
| of the receipt of our fee and the required | | | | to securely contact the bank by phone and |
| documents. | | | | verify that no one else can sign on the |
| | | | account or otherwise access the bank account. |
| The Process - Making a trip to Panama is not | | | | After the account is funded online banking |
| necessary. Panama Banks never accept cash to | | | | information will then be emailed to you |
| open an account. Some customers wish to come | | | | directly and you reset the password securely |
| to Panama to meet the bank, etc. This is fine | | | | online immediately upon receipt. ATM card |
| but we will NOT introduce a person to any | | | | will be sent by courier directly to you. |
| bank until after they are a paid up client | | | | |
| and we have done our due diligence having | | | | Number of Bank Accounts - You can open up |
| their reference letters, passport copy etc. | | | | more than one Panama offshore bank account in |
| The banks rely on the law firm to do the | | | | different banks using different corporations |
| required due diligence in the area of know | | | | or same corporation or a corporation and a |
| your customer which is the same as required | | | | foundation. Sending funds from one |
| by the banks. The banks in Panama have no | | | | corporation or foundation to another for |
| shortage of customers since a Panama Bank | | | | payroll, purchases or other reasons can |
| Account is the most coveted in the world | | | | easily be accomplished using the ACH system |
| right now. The banks do not wish to have | | | | in Panama which 30 large banks use. This is |
| potential customers contacting them directly | | | | not a wire transfer and the data is covered |
| before the law firm has completed their due | | | | by Panama Bank Secrecy laws and only entities |
| diligence. The banks are not fond of | | | | covered by these laws have the data. It takes |
| foreigners calling on the phone about opening | | | | one to two days for the ACH transfer to be |
| up an account. If you are coming to Panama | | | | completed and the cost is about $1.00 per |
| which again is not necessary, we suggest you | | | | transaction. |
| do the formation of the corporation or | | | | |
| foundation before you come and we can get the | | | | Panama Bank Secrecy - Panama has strict |
| bank account approved by the new account | | | | banking secrecy laws better than any |
| committee before you arrive so basically you | | | | jurisdiction we know of. Panama has no tax |
| just meet the bank manager, sign the forms | | | | treaty with any other country. This is not |
| and signature cards and then are free to | | | | the case with tax havens like Switzerland, |
| depart and your account should be functional | | | | Belize etc. who do get into tax treaties with |
| the next day. We can assist with corporate | | | | numerous countries. Tax treaties are the |
| rates on a hotel; get you an English speaking | | | | legal basis for government fishing |
| driver with a car, etc. Some banks will | | | | expeditions. Fishing expeditions do not |
| provide an ATM card with the account | | | | happen in Panama. If a bank employee or |
| immediately. The ATM card is usually in the | | | | officer violates the bank secrecy laws they |
| name of the corporation if it is a corporate | | | | can go to prison, get fined and of course you |
| account. Some do not want such an ATM card | | | | can sue the daylights out of the offending |
| because the corporate name can have | | | | bank. The bank secrecy laws are statutory in |
| associations regarding the wire system from | | | | Panama. Did you know for instance that the so |
| wires being sent and received and thus | | | | called bank secrecy laws of Belize are not |
| violate their privacy. This brings up the | | | | actually written in their law books? Panama |
| option of a third party ATM card that has | | | | is the best jurisdiction for asset |
| numbers only, no account name at all on the | | | | protection. Panama Bank Accounts are most |
| card. There is also the option of having a | | | | desired bank accounts in the world today. The |
| MasterCard or Visa debit card (not credit | | | | banks are solid, the US Dollar is the |
| card) for an extra fee. The Visa or | | | | national currency of Panama (we can also get |
| MasterCard debit card also can function as an | | | | euro accounts), the government is stable and |
| ATM card. | | | | the corporate privacy, bank secrecy and |
| | | | attorney privacy is the best there is |
| Stock Trading - The savings account can also | | | | anywhere. |
| be directly tied to a stock trading account. | | | | |
| This allows one to trade online around the | | | | Click here for a complete list of countries |
| world. There is a $50,000 minimum to open | | | | with tax treaties with the U.S. |
| such an account. The clearing agent is top | | | | |