 "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. | 
