Top Offshore Banks in Panama
• Banisi: Offers a competitive 5.5% fixed-term deposit rate and 3% for savings, ideal for those looking for reliable returns.
• Banco General: Panama’s most popular bank, with the Yappy app for easy payments. However, non-residents must have residency to open an account.
• Banistmo: Perfect for international freelancers, with PayPal and Nequi integration, making international transactions seamless.
• Banco Aliado & Credicorp Bank: Known for their stellar customer service, these banks are reliable choices for offshore banking.
• Canal Bank: If you’re involved in cryptocurrency, Canal Bank is one of the most crypto-friendly options in Panama.
Requirements for Opening an Offshore Bank Account in Panama
To open an offshore bank account in Panama, you’ll need to provide:
• Passport and second ID: Valid identification is essential.
• Proof of Address: This can be a utility bill or other official documentation.
• Bank Reference: A letter from your current bank confirming your good standing.
• Source of Income: Documents like tax returns proving the origin of your funds.
• Connection to Panama: Non-residents without residency must show a link to Panama, such as owning real estate or having a business.
Why Open an Offshore Account in Panama?
For many expats and investors, an offshore account simplifies managing income from Panama real estate investments, including properties rented out via Airbnb in locations like Panama City and Boquete, where an Airbnb license is required. With a local bank account, you can easily manage rental income and other financial activities.
Additionally, Panama’s secure banking environment and favorable tax policies make it a prime destination for international banking. Whether you’re planning to move to Panama or create a Plan B, setting up an offshore account is a critical step.
Interested in opening an account? Contact us for personalized advice and let’s guide you through the process.Opening an offshore bank account in Panama offers stability and tax benefits. Learn about top banks and what documents you need!