---
title: Can I open a Bank Account in Panama If I am a foreigner?
description: Our Expert Lawyers will explain all the requirements you have to fulfill to open a Bank Account in Panama as a Foreigner ✅
image: https://legalsolutionspanama.com/hubfs/openabankaccountpanamaforeigner-2048x1365.jpg
---
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# Can I open a Bank Account in Panama If I am a foreigner?
By Legal Solutions • 2 minute read
This question may be rather striking, since there should be no inconvenience for a foreigner to open a bank account in Panama. However, for some time now, we have been dealing more with the issue of opening a bank account for foreigners in Panama and we have found a different answer depending on the bank that is consulted. In view of this reality, we want to explain in which cases a foreigner can open a personal account in Panama and in which others it will be difficult.
## Who, being foreigners, will be able to open an account without mayor difficulties?
Actually this is decided by each bank according to its internal policy.
However, what we have found is that, for the most part, banks require all foreigners who wish to open a bank account to have an immigration status, meaning, that they will always ask for two documents that identify the client: one of them is the passport (generally) or ID (personal identification number); the other one is the immigration card. This last card is fundamental and binding for the opening of a bank account in Panama as a foreigner. If the person does not have it, in general, in most Panamanian banks, the bank account will not be opened.
## If I do not reside in Panama and I am a foreigner, can I open a bank account?
Not residing in Panama means that the interested party does not have a immigration card, therefore, the opening of the account is complicated with most banks. However, not everything is black and white. There is an opportunity for those businesspersons or entrepreneurs who can justify the transparency of their business. For them, in some banks, after having presented all the documents required by the bank and mainly after the origin of the client's funds has been clearly proven, there is a high possibility that the client can open a personal bank account. In this regard, banks are very careful.
## Bank requirements to open an account in Panama
- Original of the valid passport of each signatory. If you are not in Panama, you must send a photocopy of your passport with apostille in Original on the page where the photo and signature are. Add a copy of the pages containing the entry and exit stamps, as well as a copy of the U.S. Visa with its stamps (if you have one).
- Original of two (2) bank reference letters from each of the signatories on the account. These letters must contain the Bank's letterhead with your address and telephone number to be confirmed by the Bank.
- Copy of a second identification (driver's license, social security card, identity card from your country of origin, etc.).
We have created a video in which we tell you everything you need to know to create a bank account in Panama:
## Other requirements requested by the Bank
If I have a immigration card, what other requirements can the bank ask me for?
The requirements to **open a bank account in Panama as a foreigner** depend on each bank. However, in a general way we could mention:
- Valid Immigration Card.
- Passport.
- Bank or Personal Reference Letter (addressed to the Bank), in case of not having credit references in APC.
- Copy of water, electricity or telephone bill.
- Evidence of income.
Each bank will require the presentation of a series of documents completed by the client, with personal information of the interested party.
In conclusion, a foreigner can open a bank account in Panama, even if they do not have a immigration card, although in this case a series of special requirements must be met. Also, take into consideration that this can only be done in a limited number of banks, which demand high amounts in terms of: account opening and minimum amount to be kept in the account.
In addition, different types of forms must be completed. Provided you have the right advice, you can open a bank account in Panama. We are here to help you, if you want to start creating a bank account contact us at: info@legalsolutionspanama.com and also you can also make an appointment directly on our [Calendly](https://calendly.com/legalsolutions) account.
## In This Article
---
- [Who, being foreigners, will be able to open an account without mayor difficulties?](https://legalsolutionspanama.com/en/blog/can-i-open-a-bank-account-in-panama-if-i-am-a-foreigner/#who-being-foreigners-will-be-able-to-open-an-account-without-mayor-difficulties)
- [If I do not reside in Panama and I am a foreigner, can I open a bank account?](https://legalsolutionspanama.com/en/blog/can-i-open-a-bank-account-in-panama-if-i-am-a-foreigner/#if-i-do-not-reside-in-panama-and-i-am-a-foreigner-can-i-open-a-bank-account)
- [Bank requirements to open an account in Panama](https://legalsolutionspanama.com/en/blog/can-i-open-a-bank-account-in-panama-if-i-am-a-foreigner/#bank-requirements-to-open-an-account-in-panama)
- [Other requirements requested by the Bank](https://legalsolutionspanama.com/en/blog/can-i-open-a-bank-account-in-panama-if-i-am-a-foreigner/#other-requirements-requested-by-the-bank)
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