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Services · Personal accounts

Personal accounts: Panama

An honest assessment before work starts, the quote is fixed in writing.

We assess your chances against your profile, prepare the compliance file, help you present your source of funds properly and handle communication with the bank until it decides. The final decision always rests with the bank, so no one can guarantee an opening - careful preparation simply improves the odds.

We quote the exact cost for this country after a short consultation: it depends on the bank and your residency. The quote is fixed in writing before work starts.

Fees

ServicePrice
Personal account - opening assistanceon request

Prices are indicative and cover our work on a typical case. We confirm the exact quote in writing after a short call - you know the final number before we start. Government fees and bank tariffs are billed separately unless explicitly included.

See also

Company formation · Business account · Investment property · Country taxes · All country programs

FAQ

Can a non-resident open a personal bank account in Panama?
Yes. Panama is one of the few countries in Latin America where non-resident accounts are an established product. The bar has risen though: references, proof of income and source of funds, and sometimes a tax return from your country of residence.
Do I need Panama residency to open an account?
Not required, but with a residence permit and a local ID the process is easier and cheaper and more banks will talk to you. That is why many people treat residency and banking as a single project.
What is the minimum deposit and what does the account cost?
Minimum balances and monthly fees for non-residents are normal, and each bank sets and discloses its own numbers during the consultation. Ask not only about the entry threshold but also about when an account is treated as dormant and closed.
Does Panama share account data with other countries?
Yes. Panama takes part in CRS and exchanges data with partner countries; its territorial tax system does not make the account invisible. Panama left the FATF grey list in 2023, but correspondent banks still look at Panamanian payments more closely than average.

Don’t want to figure this out alone?

We handle the whole process end to end: we assess your chances with specific banks, prepare your documents and give you honest timelines. Leave your details and a personal banking expert will get back to you. The first consultation is free.

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