Panama Home Page
Panama flag
Panama Forum
05/13/12 11:19
Panama Forum, Expat Forum, Travel RSS Feed

'How do you open a bank account anymore in Panama?' Business

Post your Panama related message now.
All listings are the responsiblity of the posters; keep in mind, anyone can post anything!
Panama, any: Photo 1
us





Advertisement:
Free Ad



Recent Notes and Tags
Search Tags:

Related Resources


Top Searches: • how to open bank account in panama • how to open a bank account in panama • what do i need to open a bank account in panama • panama bank account forum • opening a business account in panama • can i open a bank account in panama • how to open corporate bank account panama • what is needed to open a business account in panama • expatriate bank accounts in panama • bank account panama forum • best way to open bank account in panama forum 2011 • forum opening a bank account in panama • requirements to open a bank account in panama • panama open us bank account • open a panama bank account • open bank account in panama forum • open expatriate bank account in panama • panama to open a corporate bank account new regulations • panama bank account opening • can u open a bank on line in panama • bank account in panama city bank • what is needed to open a bank account in panama • panama city bank account • panama city panama banks horror stories • do panama banks disclose to u s • panama forum company bank account • opening an account in panama city • how to panama bank •

How do you open a bank account anymore in Panama?

This forum post has messages dated from 10/20/09 through 02/17/10, please be sure to read all the messages. If you feel it is old or outdated, please follow up with a question or comment and someone may be able to update it, or reply with newer information if you have it.


Forum Post
10/20/09 00:01
North Idaho U.S.A.

How do you open a bank account anymore in Panama?

Thank author of this post/commentGood evening, everyone!

I spent 3 weeks (21 days) in Panama City during July 2009. I had access to $75, 000.00 (U.S.) dollars to deposit in a bank account, either under a corporate name, or a personal account in my own name.

The banks in Panama City were extremely paranoid. After 21 days, I returned to the U.S. with no bank account, and the $75, 000.00 in the hands of any attorney in Panama City!!!

How do you get around the hurdles? I expect to be returning to Panama City again in April 2010. Hope someone here can help me.

Frank


Comment #1
02/17/10 09:27
Los Santos, Panama
Thank author of this post/comment"How To Open A Bank Account In Panama"

Frank,

I too must say that you are a far braver soul than me trusting any money with an attorney in Panama (or anywhere else for that matter).

Panama banks have become more and more strict when opening accounts ever since the US applied pressure to screen their clients better (tax haven, drug and terrorism fear being the operative word here). Anyhow, here is what you need to do and the documents to bring to open an account in Panama (it is the same give or take for all banks):

Foreigners are subject to "Know-Your-Customer" (KYC) requirements when opening an account with a bank in Panama. Subject to changes according to internal procedures of each bank, applicants must appear in the person at the bank for a personal interview and provide :

1) 2 Letters of Reference from 2 other banking institutions, authenticated with Apostille or by Panama Consul, addressed to the bank in Panama,

2) Copy of the passport and another picture identification (providing the original documents for verification)

3) Tax return or other document which will help the bank identify the income range of the applicant and compare it with the movement of account.

The Panama Superintendent of Banks has a website

superbancos.gob.pa where all institutions licensed to provide banking services are listed. Institutions which do not appear in this listing act in violation of local laws and depositors risk losing their deposits.

In addition, Panama banks owned by investors holding publicly-traded shares, disclose their financial statements and relevant events to the Panama Stock Exchange panabolsa.com , which helps to gauge their financial solvency.


Reply Options
Share your opinions, advice, questions or comments on this post.
Be Heard: Forum reply options:

We encourage everyone to share their opinions, comments, thoughts and information, please consider sharing...

Please register or login in to reply to this post:

It is quick, easy and offers many advantages when using our site.

Social Networking

Share this with your friends on facebook, twitter and Google+

Social sharing because it feels good:
 

Related

Some related posts that may be of interest to you.

Related posts:

Related posts on other sites:

Related eBooks:


Tags and Tagging

Tags help organize related posts and resources by topic.

investorsverificationpassportapostillebankinginstitutionsrequirementsdocumentsforeignersterrorismclientsattorneyparanoiddollarsdepositstock exchangefinancial statementsbanking servicestax returntax havenus dollarsbanksbusinessexpatriatebest wayhorror storiesbank accountspanama forumpanama citybank accountopen bank account




Have you added a link to us from your website? (1545611457):
  • <a href="http://board.panamatotal.com">Panama Forum, Expat Forum, Travel</a>
  • <a href="http://board.panamatotal.com/Business">Business: How do you open a bank account anymore in Panama?, Panama forum. Panama info exchange</a>
Business: How do you open a bank account anymore in Panama?, Panama forum. Panama info exchange

Copyright (c) 2005-2011 GLR Sales LLC.


(wpqzrrzetpzri)

Privacy & DMCA Policy -- Sitemap
Business Panama 'How do you open a bank account anymore in Panama?'
Classification: Forum