How To Open A Corporate / Company Bank Account In Panama: 3 Simple Steps

• Published date: 02 October 2023
• Law Firm: Biz Latin Hub Group
• Author: Biz Latin Hub Group

Being one of the fastest growing economies in Latin America, Panama provides the perfect mixture of conditions for an investor to the advantage of.

The excellent performance during the 2009 global financial crisis and consistent and stable economic growth have positioned Panama as a regional Latin American leader. As a result, investor confidence has surged, with small, medium and large companies looking to Panama as an attractive commercial jurisdiction.

Additionally, Panama has grown as one of the great locations to form and incorporate companies as a means of protecting wealth and assets from the government or from creditors.

Can I Open a Corporate/Company Bank Account in Panama From Abroad?

It is well known that in order to set up a business you'll need a corporate bank account and Panama is no exception; however, the bank account opening process is not as difficult as you may think.

Step 1: Work with a Local Partner in Panama

Law firms or consultants will be your best options as 'partners' to work with in order to begin the bank opening process. Despite the limited complexity of opening a bank account in Panama...