Panama offshore Legal bank account
Below is a MRR and PLR article in category Business -> subcategory Other.
Panama Offshore Legal Bank Accounts
Overview
Offshore Legal operates in Panama and globally, providing services such as offshore bank accounts, foundations, asset protection, and corporate structures. You can set up a Panama bank account within 3-5 days.
Key Services
Offshore Legal's offerings include the creation of bank accounts, offshore foundations, asset protection measures, and corporate entities.
Setting Up a Panama Bank Account
To establish a bank account in Panama, you'll need the following documents:
- Bank reference letter
- Notarized passport copy
- Notarized driver's license copy
- Reference letter from an accountant, business associate, or lawyer
Panama is known for its robust bank secrecy laws that protect clients. Violations can result in fines, imprisonment, or legal action against the bank. Accounts can be held in Euros or US dollars, with access to Mastercard, Visa, or ATM cards. Online banking with international wire transfer capabilities is available. A minimum deposit of $1,000 USD is required. Note that US and Canadian citizens must open foundation or corporate accounts, not personal ones. Corporate accounts can be registered under existing international corporations.
Global Banking
Panama's offshore banks have global reach, yet they operate as separate entities within Panama to cater to diverse client needs.
Offshore Packages
- Basic Panama Bank Account: Starting at $695 USD, includes online banking and ATM card with access to a large bank managing billions.
- Panama Bearer Share Corporation: Starting at $1,795 USD ($1,495 without a bank account). This package includes a resident agent, power of attorney, three nominee directors, annual tax, resignation letters, corporate resolutions, share certificates, and necessary translations. Beware of cheaper offerings that might omit essential elements, potentially leading to scams.
- Panama Foundation Package: Priced at $1,795 USD, covering a secret beneficiary letter, foundation protector agreement, registered agent, resolution from nominee council members, power of attorney, and more.
- Layered Banking Package: Includes foundation owning a corporation with two bank accounts at approximately $3,300 USD. This package offers enhanced anonymity and confidentiality.
- Stock Trading Account: Available for $495 USD, allowing you to grow your investments in a secure offshore environment.
Final Thoughts
Panama's offshore banking services offer numerous benefits, but it's crucial to conduct thorough research to avoid scams and choose the best account for your needs.
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