International Banking
Bank Referrals
Our Firm provides bank referral services for opening corporate bank accounts for Panama IBC Corporations or Private Foundation established by our Firm.
We are currently referring our clients to some of the highest rated banks in Panama with full internet banking services.
For client that prefer to have their Panama Corporation bank account in a different jurisdiction, our firm could also refer some high rated banks in other jurisdictions.
According to new regulations all the bankers in Panama are obligated to know their clients intimately. For that reason it is requested that the client (the account signatory) to come personally to Panama for an interview with the bank.
Usual documents required by the Panama banks.
- 2 (two) original personal bank references from the client / account signatory.
- 2 (two) original commercial reference from the client / account signatory.
- Documents that proves to the bank the origin of the incoming funds.
- Documents that you consider would help the bank understands the origin of the funds and know you better as new client.
- Copy of the client / account signatory Passport and a second ID (such as driver’s license).
- If the client appoints the company Directors; certified copies of their passports and second ID (such as driver’s license or official country ID).
We also suggest to prepare a letter to the bank with the following info.
- Client contact information.
- Details of the client sources of income or business.
- Explanation on the sources of future assets / funds that will go to this account.
- Reasons you require to open a bank account in Panama.
- Estimate amount of funds that would be received into the account (monthly).
- Estimate amount of funds that you would be retrieved from the account (monthly).
- Countries where the funds are coming and going from.
Minimum deposit.
The initial minimum deposit shall be made only when the account is finally approved. This amount would depend on each bank.
Account opening timeframe.
The accounts must be approved first by the bank compliance department; the usual time frame is approximately 2 weeks to a month. It is important to note that the account opening time frame depends strictly on the bank and not our Firm. The bank could take additional time and request additional documents if they consider it is necessary.
Contact us for more information.
The above information and requirements were just a brief outline of the bank introduction services provided by our firm and the usual requirements for opening a corporate bank account in Panama. Please do not hesitate to contact us for any further clarifications or enquiries. Our firm will be glad to assist you with all the related matters regarding these procedures.
Contact
Get in touch with us!
OUR OFFICE
Advanced Tower, 1st Floor
Panama City, Panama
CONTACT US
+507 264.5570 | 264.5931
info@matapitti.com
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