Panama Dollar Account
Onlypanama.com offers our clients an introduction to the local banks. Our company has special contacts with banks that will give you the flexibility you need to develop your offshore businesses and will accept our Panama Corporations and Private Interest Foundations to open the accounts without you having to be present or live in Panama.
We provide our clients with a ´company reference´ that will guarantee a smooth beginning for a long banking relationship.
Requirements to open the account:
- Copy of client’s passport certified by a Panamanian Consulate (this is in case the client is not in Panama to open the account)
- One personal banking reference: The letter must be printed in your bank’s stationary (with the company logo, phone, address, name of the person in charge of your account, if you have a savings or checking account, etc.)
- Corporate Profile: The profile should describe the client’s commercial activity or job, the source of funds, how often the client intents to transfer funds and the amounts.
Minimum to open the account
The minimum opening balance for a Dollar Account is $1,000.00.
Transferring the opening balance
The first step is for the bank to approve your account. Then the bank will provide you with the account number and wire instructions. Then you transfer directly into your account the opening balance ($1,000.00).
Please keep in mind that our roll is to present you to the bank and we don’t have to know any details regarding your account. Your account information is confidential between you and the bank.
Bank application forms and signing cards
If you are outside of Panama we will send you the applications by courier, then you should return them with a copy of your passport with an apostille from a Panamanian Consulate near you. If you come to Panama we will take you to the bank personally to introduce you and to sign the application forms and signature cards.
Our fees and timeframe
- Our Bank Account setup fee is $800.00. The price also includes our company’s letter of reference
- Time frame to set up the account: 3 weeks after receiving all the documents
