Panama Bank Account Opening
Professional assistance for Panama bank account opening for both corporate and personal non-resident clients. ASG Legal helps you select the right bank, prepare full KYC documentation and coordinate with compliance until the account is effectively opened and online banking is active.
Overview
Panama is a well-established international banking hub with a wide range of institutions serving global businesses, high-net-worth individuals and international investors. Opening a bank account in Panama requires careful preparation of documentation, KYC and compliance explanations, especially for non-resident clients.
Our firm provides a complete Panama bank account opening service: from pre-assessment of your profile, through the selection of a suitable bank, to the preparation and submission of the full application and support during the entire compliance review.
Our Bank Account Opening Services
- Pre-assessment of your profile, business activity and source of funds
- Selection of suitable Panama banks or international fintech/EMI options
- Preparation of complete bank account opening forms and KYC questionnaires
- Guidance on required corporate documents, apostilles and translations
- Drafting of explanatory letters for compliance (business model, transactions, counterparties)
- Submission of the file and coordination with bank compliance officers
- Assistance with remote onboarding where possible (video calls, digital signatures)
- Support for online banking activation, debit card issuance and account limits
- Ongoing compliance and reporting support after account opening, if required
Get a quote
Tell us if you need a personal or corporate account, your country of residence, expected monthly turnover and main business activity. We will recommend suitable banks and send you a tailored proposal with fees and a list of required documents.
Typical response within 1 business day.
Why open a bank account in Panama
- Strategic international financial centre with global connectivity
- USD-based economy and access to multi-currency accounts
- Well-regulated banks with strong compliance frameworks
- Possibility of serving international clients and cross-border payments
- Suitable for holding structures, trading companies and investment vehicles
- Access to online banking, corporate cards and merchant solutions
Account Opening Process & Timeline
- Initial consultation & pre-screening of client profile, business activity and objectives.
- Selection of bank or financial institution according to risk profile and requirements.
- Gathering of documents (corporate documents, IDs, proof of address, bank references, etc.).
- Preparation of the application, KYC forms and compliance explanations by our legal team.
- Submission to the bank and coordination with the compliance department for clarifications.
- Account approval, activation of online banking and delivery of account details / cards.
Typical timeframe for a well-prepared file: 2–4 weeks, depending on the bank, client profile and complexity of the structure. Professional service fees start from USD 1,500 for basic personal or corporate accounts, plus third-party costs (notary, apostille, translations, courier).
Frequently Asked Questions
Yes, many banks accept non-resident personal and corporate clients, provided that full KYC, source of funds and tax residency information are properly documented.
For a corporate bank account in Panama, it is usually necessary to have a Panama company or another foreign company with complete corporate documentation. We can assist with both company formation and bank account opening.
Minimum initial deposits and ongoing balance requirements vary by bank and client profile. Some banks require USD 5,000–10,000 or more as a starting balance. We will recommend banks that match your expected volume and risk profile.
Certain banks may consider clients with crypto-related income, but only with strong documentation of source of funds and a clear compliance history. In other cases, we may recommend alternative EMI/fintech solutions more suitable for such activities.
Start your Panama bank account opening today
Secure reliable international banking for your company or personal wealth. Contact ASG Legal for confidential and professional assistance with Panama bank account opening and related corporate structuring.