Description
A Panama Bank Account can be opened for businesses that have been incorporated in Belize and Panama. We work with an International Bank which is located in Panama; they meet our high standards on confidentiality, have an excellent reputation and offer a wide range of offshore banking services, which we believe will suit most requirements.
Why Panama
- Panama is the top offshore banking centre in Central America
- Spanish is the primary language, but most Banks speak English – which makes it easier for you to communicate with them
- Panama’s bank secrecy laws will protect your privacy – these laws forbid banks to disclose details of their client’s transactions to both national and foreign authorities
- Banks in Panama are capable of providing first-class facilities
- Panama enjoys a stable, democratically elected government
About the Bank
- The Bank Corporation is an Institute specializing on helping clients protect their wealth and meet their financial goals by offering wealth management, Asset management, Investment Banking, and Global Banking from Panama City, Panama
- This Bank is characterized by its commitment to its clients, their confidence in its process, their Expertise
- They strive to be the best through continuously improving and innovative organization
Offshore Banking Advantages
- The bank caters to every client whilst calculating all possible risks
- The bank has more than 90 years of experience
- Strong relationships based on trust and excellence in the field of corporate banking
Corporate Documents Required
We require Corporate Documents for the company that is opening an Account in Panama. The Corporate Documents must be notarised or apostilled by a solicitor/notary public.
The following Corporate Documents are required:
- Certificate of Incorporation
- Memorandum and Articles of Association (if your type of company doesn’t have memorandum and articles then a similar document that sets out the rules of the company)
- Register of Directors
- Register of Shareholders/Members
- Share Certificate(s)
We can assist you with obtaining the required corporate documents and also with the notarisation and apostille of the documents. Please contact us for assistance.
If the company is older than 1 year, we will require a Certificate of Good Standing. We can assist you with obtaining a Certificate of Good Standing from the relevant authority.
Personal Documents Required
The bank requires the following personal documents from each officer, beneficial owner, and authorised signatories within the company:
- Certified Copy of a valid Passport with the photograph visible
- Certified Copy of a Utility Bill dated within the last 3 months – this can be a Bank Statement, Gas/Electricity Bill
- Reference Letter obtained from a Bank or Professional
If any of the above documents are not in English, a translated copy must be obtained.
When a document requires certification, an Accountant, Solicitor, Lawyer, or Certified Auditor must certify the documents in English, and the certificate must state the following:
- ‘I hereby certify that this document is a true copy of the original’
- The Certifiers printed name
- Name of the Organisation
- Status/Position
- Date Certified
- Contact Information including Email Address and Contact Number
Documents required for any Corporate Officer
- Certificate of Incorporation
- Memorandum and Articles – Or similar document containing the companies rules
- Register of Director/Shareholder/Members
- Share Certificate
All documents should be in English; if not, the documents should be translated into English and certified the same.
Currencies Available
The account can be opened in Euro, British Pound, and US Dollars
Visit Required?
A personal visit to Panama is required to open a Business Bank Account
Initial Deposit
The Bank will require an initial minimum deposit of 35,000USD or currency equivalent before you can have access to your account.
Timescale
Once all documents and bank forms have been received by the bank, it usually takes around five working days for the account to be opened once compliance is happy with the documents.
Banking Facilities Available
- Internet Banking
- MasterCard and Visa Cards are available
- ATM Card
- A variety of different Accounts are available, including Checking accounts and Corporate Time Account
- A monthly statement is provided free of charge
- Loans with account guarantee
- Once we have received all the required identification documents and information, the application is sent to the Banks compliance team. They may request additional documentation. Once the compliance team is satisfied, the account will be opened in the time displayed, which is 1-2 weeks
Only available for Panama and Belize incorporated companies.
Why Choose Nolton Consultants
Nolton Consultants will provide a fast, simple, and transparent service that goes the extra mile to ensure complete customer satisfaction. Our experienced team will offer full support throughout the bank application.
Bank Account Introductions are not guaranteed, although we do try our best to ensure the account is opened. The Banks criteria can change without prior notice.
Unfortunately, the Bank Account opening is at the discretion of the Bank, and their decision is out of our control.
If the Bank declines your application for a Bank Account, kindly note that refunds cannot be provided as we have still processed the application for you.
