Open bank account in Panama seek advise?

[myhand]

I need to know where I can find a Panama bank to open a multi currency bank account?


Also will I need to visit the bank or come to Panama to open the bank account or can it be opened remote? What are the costs to open an account there?

 

[Zqq]

All the major banks in Panama offer either multi currency accounts or make it (relatively) easy to open accounts in all currencies you need.


However, opening a bank account in Panama is like participating in the paperwork world championship. You do not have to visit Panama. Some banks require it, whereas others don't. The biggest problem is going to be paperwork.


I have seen examples of banks going extremely far, asking for things like police conduct reports, school grades, and birth certificates. All of which have to be notarized, of course.


A lot of the paperwork can be reduced if you visit the bank in person.

 

[JohnLocke]

However, opening a bank account in Panama is like participating in the paperwork world championship.

LoL :angel: it seems it's not easy.

 

[Zqq]

I forgot to mention one thing. A lot of banks will not accept you as a client if you do not have a local company or do a lot of business in Panama or the nearby region. The exception - as always - is if you have a lot of money to deposit.