Banking in Panama might require various documents, forms, and related services. Not knowing how to establish investments or brokerage accounts might cause delays and other unforeseen difficulties. Our team at Mata & Pitti can help with bank referrals, assist with obtaining documents, and more. Here is what you need to know when opening a bank account in Panama:
Do I Need a Lawyer?
While technology simplifies the process of opening an account, Panama banks are legally required to know their clients. With the help of a lawyer, new account holders can navigate any complexities regarding corporate documents, director services, guidance on assets, or privacy concerns. We will also bridge the gap between the bank and the client with constant communication.
Why Use International Banking?
Opening a corporate bank account requires various documents, such as proof of funds, to be approved. At Mata & Pitti, we provide multiple referral services for banking in Panama. Staying up to date with qualified investor regulations, we have a prepared list of requested documents and forms that are typically required in most banks, including:
- Proof of incoming funds documents
- Copy of passport and second ID
- Two personal bank references
- Any related documents to help the bank know you better as a new client
Our team also recommends preparing a letter for the bank with any contact information. This helps the bank learn the details regarding your income or business and explains the assets and funds supporting the account.
Will I Need To Become a Resident?
Residency is not needed to open an overseas bank account, as new accounts only require a signature after approval. A short trip may be necessary to complete the paperwork. Once the process is complete, you can reach the bank by email or phone if necessary, and our firm will assist with any follow-up procedures.
If you are unable to travel to Panama, our team can help by arranging a virtual meeting. This way, we comply with current regulations, and new clients can explain any business details, source of funds, and transactions to the bank representative.
What Else Do I Need To Know?
Panama offers individuals and businesses the opportunity to diversify their financial holdings. Our law firm connects clients to banks that align with their goals, whether it is for investments, business, or growth. Panama banks adhere to international standards, which require transparency and due diligence. Providing clear, detailed information builds trust with financial institutions. Our team makes sure you meet those expectations while maintaining your privacy.
Use Mata & Pitti For Banking in Panama
Our law firm specializes in simplifying the complexities of international banking. From preparing documents to bank introductions and ongoing support, our team helps clients save time and reduce delays. Mata & Pitti offers proactive solutions so our clients can focus on their personal and professional endeavors. If you have any questions about Panama banking or how the process works, contact one of our team members today. We will help you through the process, manage the paperwork, and set you up for success when opening an account.