Giovanna Avendano Attorney Law firm Panama Offshore Legal Services

Panama is one of the most secure international offshore centers in the world. The Panama Stock Exchange is one of the fastest-growing in the region.

Where once there were in excess of one hundred and fifty international banks operating out of Panama there are now just over eighty, but of these all adhere to Panama’s new offshore banking laws which follow the guidelines of the Basle Committee on Banking Supervision which ensure client privacy and seek to prevent criminal banking activity.

In terms of the type of offshore bank account available in Panama these include personal accounts, business and merchant accounts as well. It’s possible to have internet banking facilities enabled for non-residents to access account information and perform transactions. Furthermore it’s quite simple to get debit and credit cards and even checkbooks from an international or offshore bank account held in Panama.

It’s usual to have to make a minimum initial deposit to open a bank account in Panama and then once the account has been opened it’s usual to have to keep a certain balance in the account otherwise fees will be charged. Other than that it’s a straight forward procedure to open an offshore bank account and there are many companies offering IBC incorporation and bank account establishment packages.