Connect with Panama, a strategic location for your banking operations

Opening a bank account in Panama can be a useful solution for individuals who need to conduct transactions in U.S. dollars, organize their financial structure, or support a business activity through an internationally recognized jurisdiction.

The key lies not only in choosing a bank, but also in correctly identifying the type of account, properly preparing the documentation, and submitting a consistent application from the outset.

  • A robust and internationally recognized jurisdiction
  • A local and international banking network
  • Data protection and bank secrecy
  • Options for foreign and non-resident clients
  • The option to initiate the process with legal assistance
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What is your situation?

At Legal Solutions Panama, we review each case before beginning the process, because not all bank account openings follow the same procedure. The required documentation, the level of scrutiny, and the intended use of the account vary depending on whether it is a personal or a corporate account. 

I need a corporate account

A corporate account is typically the right choice for companies that will issue invoices from Panama, hire suppliers, process international payments, or support an already incorporated company.

It can also be useful for offshore structures with legitimate business activities, provided that the company’s documentation and that of its ultimate beneficial owners are properly prepared.

Ideal for:

  • Companies that invoice from Panama
  • Commercial or professional activities with a corporate structure
  • Hiring staff or suppliers
  • Companies that need a functional account
  • International companies seeking to operate in U.S. dollars with a stable legal basis

I need a personal account

A personal account may be the best option for those seeking asset protection, trading in U.S. dollars, diversifying their banking structure, or complementing an international strategy without relying on an active local company.

Its suitability depends on the account holder’s profile, the source of funds, and the alignment between the account and its intended use.

Ideal for:

  • Individuals with offshore companies or international structures
  • Investors with ties to Panama
  • Individuals seeking asset protection
  • Users who do not require an active local company
  • Foreign nationals who wish to open a personal dollar account outside their country of residence or origin

We have a plan tailored to your needs

Support services for opening corporate bank accounts in Panama

Basic

$1.115,00
Designed for clients who need a clear initial roadmap, an initial review, and support throughout the account opening process.
Initial kick-off
Pre-qualification of the banking profile
List of required documents
Support throughout the account opening process
Basic follow-up on the application
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Most Recommended

Business

$1.382,50
Designed for clients who need a higher level of support, more thorough follow-up, and alternative options if the initial approach proves unsuitable.
Everything included in the Basic plan
In-depth review of the case file
Multiple approaches based on feasibility
Priority service through direct channels
Enhanced legal support throughout the process
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Business Plus

$1.799,80
Designed for international clients, more complex structures, or clients who require more intensive assistance throughout the banking process.
Enhanced case tracking
Support with comments or issues
Expanded strategy tailored to the client’s profile and documentation
Priority handling and support
Preferential benefits for related services
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Frequently Asked Questions About Opening a Bank Account in Panama

Learn about our additional solutions for specific situations.

Can a foreigner open a bank account in Panama?

Yes, although feasibility depends on the applicant’s profile, the source of funds, the type of account, and the bank’s internal policies. For this reason, it is advisable to review the case before beginning the process.

Can you open a bank account in Panama without residency?

In many cases, yes, but not all profiles are equally suitable for every financial institution. Residency is just one of the factors reviewed during the bank’s due diligence process.

What documents do banks in Panama typically request?

They usually require valid identification, proof of economic activity, proof of the source of funds, and, for corporate accounts, documentation regarding the company and its beneficial owners.

How long does it take to open a bank account in Panama?

The timeframe may vary depending on the bank, the type of account, and the quality of the application submitted. When the documentation is well prepared, the process usually proceeds more smoothly.

Is it possible to complete the process online or remotely?

Many applications can be initiated remotely. Depending on the bank and the client’s profile, a one-time visit may be required at a later stage.

What is the difference between a personal account and a corporate account?

A personal account is linked to the account holder and their financial situation. A corporate account is associated with a company, its business activities, and its planned operations.

Which banks in Panama accept applications from non-resident foreigners?

There is no single answer, as each institution applies different compliance and risk criteria. It is advisable to first analyze the profile and then determine the most appropriate banking route.

How much does it cost to receive assistance in opening a bank account in Panama?

The cost depends on the type of account, the complexity of the profile, and the scope of the contracted service.