In order to establish a Merchant account in a Panama Bank, the following is required:

• Corporate Bank Account
• Two commercial references letters for each signatory of the account
• Two personal references letters for each signatory of the account
• Letter describing your business, which includes:
Summary of your business activities
Description of products and/or services sold
Jurisdictions your company currently does business in
Year of incorporation
Previous or expected business volume (annual revenues, sales, etc.)
Estimated charge-back percentage
Photocopy of passport for all company directors, officers, and legal representatives or signatories of the account.