Roxana Rangel V.
19 de sep de 20231 min.
It doesn't make much sense to create a corporate structure that includes a Panama corporation, without opening a bank account. Nowadays, opening a bank account in Panama has gone from something almost impossible to something possible, as long as the basic requirements are met, which include a personal interview. Among the documents that must be presented and that are essential for opening a bank account we have: bank reference letter (from any bank in the world), financial statements, income tax returns, or employment letter from the UBO, and a copy of your passport with your second ID.
Country roots continue to be important, and depending on the bank, the personal interview will be physical or online. Now, the issues of TAFCA and CRS are inevitable. We as lawyers can always advise you, we will recommend our trusted bank, but the success of the opening will depend on the documents you present and the result of due diligence.
Want to know more, make an appointment: roxana@roxanarangel.com