We work with Panamanian commercial banks and international banks. Remote opening is possible at several banks. Minimum deposits from USD 1,000 to USD 5,000 for standard accounts; at some banks the minimum is agreed individually.
Panama is one of the best-known and most established offshore financial centres in Latin America. The fully dollarised economy (no currency of its own; the USD is legal tender) offers maximum currency stability. Panama has been a CRS member since 2018 and exchanges account data automatically with over 80 jurisdictions. Banking secrecy is enshrined in law (the Banking Secrecy Law) and protects data beyond the scope of CRS reporting. Opening requires an in-person visit at most banks but no local residency. Panama is ideal for international entrepreneurs looking for USD accounts outside the EU who declare their account correctly.
All figures are indicative and subject to change. Not investment advice.
EU account registers, EAPO, bail-in risk and de-banking — the full picture.
Five steps from order to activated account.
CRS, FATCA and national reporting obligations explained clearly.
EAPO, Lugano, foreign judgments — an honest assessment.
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Proof of address and phone number must come from the same country — and that must be a genuine residence, not a PO box address. Our Nomad Package sets up a recognised address in the Philippines, including all required documents. Fully remote, no travel required. Ready in 1–2 weeks.
All information is provided for general guidance only and does not constitute legal, tax, or financial advice. Regulations and bank policies change; always verify current requirements before proceeding.