Panama offers a variety of options when it comes to opening an Offshore Bank Account:

• Corporate Savings Accounts
• Corporate Checking Accounts
• Personal Accounts

Corporate Savings Accounts: These offer excellent annual interest (3% - 7% depending on the Bank and the balance) and may help your tax planning as no taxes are paid for the interest you generate. Minimum Initial Deposit: US$1,000.
Interest Rate: 3% up to 7%.
Minimum Balance Requirement: US$500.
Monthly fee if balance falls below US$500: US$10
Account statements may be sent by email or post mail.

Note: These requirements are from our recommended Bank; these may vary depending on the Bank you select.

Corporate Checking Accounts: There are two types of Corporate Checking Accounts:

A. International Checking: Used by those who need an Offshore Bank Account with internationally accepted USD checking facilities. The checks from this account are accepted worldwide.

Minimum Initial Deposit: US$5,000.
Interest Rate: no interest is paid on checking
Minimum Balance Requirement: US$5,000.

Corporate Checking Accounts: There are two types of Corporate Checking Accounts:

B. Local Checking: Used by those who wish to operate an actual business within Panama, and need an account for making USD payments to any local person or business in Panama. However, the checks from this account are only valid for deposit or compensation locally within the Republic of Panama.

Minimum Initial Deposit: US$1,000.
Interest Rate: No interest is paid on this account.
Minimum Balance Requirement: US$500.
Monthly fee if balance falls below US$500: US$10.
Account statements may be sent by email or post mail.
Certified Local Check Fee: US$2.
Certified International Check: US$5.

Personal Accounts Panama also offers banking options for those who are interested in having a Personal Bank Account. This type of account may also be savings or checking accounts. Rates, Balances and requirement will vary in each case as well as documentation. Thus we invite you to contact us of more details.