---
title: "Open a Bank Account in Panama as a Foreigner: 2026 Guide"
description: Yes, but it depends on your immigration status and the bank. See requirements for residents and non-residents, why banks ask for so much and how to prepare.
image: https://legalsolutionspanama.com/hubfs/openabankaccountpanamaforeigner-2048x1365.jpg
---
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# Open a Bank Account in Panama as a Foreigner: 2026 Guide
By Samuel Chang • 2 minute read
**Yes. A foreigner can open a bank account in Panama, but it depends on two things: your immigration status and each bank’s internal policy.** With a resident card, the process is usually simpler. Without one, only some banks accept the application, and they ask for more documents, especially to prove the origin of your funds.
Legal Solutions Panamá helps foreign clients with [opening bank accounts in Panama](https://legalsolutionspanama.com/en/open-bank-account-in-panama/), and we have seen the answer change from one bank to another. This guide explains when an account is viable, which documents banks usually ask for and how to prepare your file.
## In short
- It is possible, but each bank decides according to its internal policy and risk analysis.
- With a resident card, opening an account is usually simpler; without one, only some banks accept it.
- If you do not live in Panama, the key is to clearly show the origin of your funds and your economic activity.
- Banks must identify the client, the beneficial owner and the origin of funds under Law 23 of 2015.
- Many applications can start remotely, although some banks may require a visit.
## Who can open a bank account in Panama with fewer difficulties?
Each bank decides. In our experience, most banks ask foreigners for immigration status in Panama and two identifying documents: a passport (or cédula, if you have one) and an immigration card.
That card is decisive for a personal account. Without it, most Panamanian banks will generally not open the account. If you plan to live in Panama, consider your [residency options](https://legalsolutionspanama.com/en/residence-permits-panama/) first.
## Can I open a bank account in Panama as a non-resident?
Not living in Panama usually means not having an immigration card, which makes opening an account harder with most banks. It is not impossible. Some banks accept business owners, entrepreneurs and investors who can justify their activity. Once you submit the required documents and clearly prove the source of your funds, a personal account is a real possibility.
These banks tend to require higher opening deposits and minimum balances, as well as additional forms.
## Why do banks in Panama ask for so many documents?
It is not arbitrary. Banks in Panama are supervised by the Superintendency of Banks and are subject to [Law 23 of April 27, 2015](https://cnbc.mef.gob.pa/wp-content/uploads/2022/10/ley-23-de-2015.pdf), which sets out measures to prevent money laundering. The law requires customer due diligence: verifying your identity, identifying the beneficial owner, understanding the purpose of the relationship and taking reasonable steps to support the origin of funds (articles 27 and 28).
That is why a consistent file matters as much as the documents themselves. Your declared activity, your income and the planned use of the account should all fit together.
## Requirements to open a bank account in Panama as a foreigner
Requirements depend on each bank. These are the documents usually requested, as a guide.
| | With a resident card | Without residency in Panama |
| --- | --- | --- |
| **Banks that accept it** | Most banks | Only some banks |
| **Key document** | Valid immigration card | Clear proof of the origin of funds |
| **References** | Bank or personal letter if you have no credit history in the APC | Two bank reference letters per signatory |
| **Opening deposit and minimum balance** | According to each bank’s policy | Usually higher |
**If you have a resident card:**
- Valid immigration card.
- Passport.
- Bank or personal reference letter addressed to the bank, if you have no credit references in the APC (Panamanian Credit Association).
- Copy of a water, electricity or telephone bill.
- Evidence of income.
**If you do not live in Panama:**
- Original valid passport of each signatory. If you are outside Panama, a copy with an apostille on the photo and signature page, plus copies of the pages with entry and exit stamps and of your US visa and stamps, if you have one.
- Two original bank reference letters from each signatory, on the bank’s letterhead with its address and telephone number so they can be confirmed.
- Copy of a second ID: driver’s license, social security card or identity card from your home country.
- Support for your economic activity and proof of the origin of funds.
Each bank will also ask you to complete its own forms and, for corporate accounts, to provide the documents of the company and its beneficial owners.
## Personal or corporate account?
A [personal savings account](https://legalsolutionspanama.com/en/open-bank-account-in-panama/savings-bank-account/) is linked to you and your financial situation. A [corporate account](https://legalsolutionspanama.com/en/open-bank-account-in-panama/corporate-bank-account/) is linked to a company, its activity and its planned operations. If you will invoice, pay suppliers or receive international payments, a corporate account may suit you better. If you do not have a company yet, see [offshore company formation](https://legalsolutionspanama.com/en/offshore-company-formation-panama) or [company formation in Panama](https://legalsolutionspanama.com/en/attorneys-to-establish-a-company-in-panama/).
## How to open an account, step by step
- **Profile review:** we look at your situation, the type of account and how you will use it.
- **Document list and file:** we prepare the file according to the bank’s criteria.
- **Submission and due diligence:** the bank reviews the file and may ask for clarifications or more documents.
- **Opening:** timing varies by bank, account type and the quality of the file.
Many applications can start remotely. Depending on the bank and your profile, a visit to Panama may be required at a later stage.
Want to know which banking route fits your profile? [Contact us](https://legalsolutionspanama.com/en/contact/) or book a call on [our Calendly](https://calendly.com/legalsolutions). You can also [see our support plans](https://legalsolutionspanama.com/en/open-bank-account-in-panama/).
## Frequently Asked Questions
#### How difficult is it for a foreigner to open a bank account in Panama?
It depends on your immigration status and the bank. With a valid immigration card the process is simpler; without one, only some banks accept the application if you can justify the origin of funds and meet additional requirements.
#### What is the minimum deposit to open a bank account in Panama?
Each bank sets its own amount. Without an immigration card, banks tend to require higher opening deposits and minimum balances.
#### Can a non-resident open a bank account in Panama?
Yes, with some banks. They usually ask for proof of your economic activity and the origin of your funds, as well as bank reference letters.
#### Can I open a Panama bank account remotely?
Many applications can start remotely, but depending on the bank and your profile a visit to Panama may be required at a later stage.
#### How long does it take to open a bank account in Panama?
It varies according to the bank, the type of account and the quality of the file you present.
## In This Article
---
- [Frequently Asked Questions](https://legalsolutionspanama.com/en/blog/can-i-open-a-bank-account-in-panama-if-i-am-a-foreigner/#faqs_section_blog)
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About the author **Samuel Chang** *Managing Director · Lawyer · Partner · Legal Solutions Panama*
Advises companies and investors on setting up companies, corporate structures and bank accounts in Panama.
[View LinkedIn profile](https://pa.linkedin.com/in/samuel-chang-urrutia-b13b96107)
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