Panama Euro 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:

Personal Accounts

  1. 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.)
  2. Professional Profile of the signers: Description of the type of job or activity generating the funds and proof of funds (sale of Real Estate, Investments, services rendered, etc.).  The bank will not approve the account without this type of evidence.  If available, webpage address, brochure or any document that will accredit the product or service rendered.  An organizational chart including your frequent clients with their contact information is also required.
  3. Estimated movement for the account on monthly basis, country that will normally be sending the funds and country that will receive funds (in case you send transfers from the account).
  4. Copy of all the pages of your passport.  If you are not in Panama the copy of the passport must be stamped by Notary Public and verified by the Panama Consulate near you.  The signature cards have to also be verified by the notary and the Panamanian Consulate, we will send them to you by courier.
  5. Copy of a second ID (driver’s license or social security card).
  6. Letter authorizing our firm to present your application to the bank (provided by our company).
  7. Resent Police Record, not older than 2 years and specifying that the signer hasn’t participated in fraud, criminal activities, forging documents, etc.
  8. Tax returns for the last two years.

Corporate Accounts

  1. Copy of the minutes of your Corporation Or Foundation.
  2. Copy of two ID’s of the members of the board of directors stamped by Notary Public.  (If you choose nominee directors our company will provide the copies of the ID’s duly stamped by Notary Public)
  3. Power of attorney in the name of the signer duly recorded in the Registry Public (provided by our company).
  4. Affidavit of the Members of the Board of Directors of the Corporation or Foundation specifying the name (s) of the Beneficiary Owner of the Funds and Protector for the Foundation (provided by our company).
  5. Resident agent introductory letter for the Corporation or Foundation directed to the bank and explaining how we know the client (provided by our company).
  6. Interview of the lawyer responsible to open the account in behalf of the client and the bank official (provided by our company). 
  7. Certificate of Good Standing for the Corporation or Foundation from the Panamanian Registry Public (provided by our company). 
  8. Bank applications signed identically like the client’s passport.
  9. Client Form provided by our Firm signed identically like the client’s passport.

The Corporate Accounts come with a Debit Card.  Credit Cards are available if the client opens a Savings Account to act as collateral to the Credit Card with a deposit of 120% of the limit desired for the Credit Card.

  • Minimum account opening balance: $35,000.00 equivalent to Euros.
  • Timeframe to set up the account: 2 weeks after receiving all the documents.
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