Opening a bank account for your company
A Panamanian bank opens an account for your company after its own due diligence.
The minimum the Superintendency of Banks requires is the articles, a Public Registry certificate, the identity of the officers and signatories, the shareholders with 10 percent or more, the source of funds and a sworn statement that the funds meet your tax obligations. No rule bars an account for a company with a foreign owner and no operations in Panama; each bank decides by its own risk policy.
What the bank asks for
- The company’s name, registration, address and RUC, or its foreign tax number.
- A sworn statement that the funds comply with the tax obligations of the country of tax residence.
- A copy of the articles and a Public Registry certificate.
- A copy of the identity of the president or legal representative, the secretary, the signatories and the attorneys-in-fact.
- Whether there are nominee directors provided by the resident agent.
- The shareholders with 10 percent or more, with a copy of their ID.
- The source of funds: at least signed financial statements, the tax return or another document of the income flow, and where the money comes from.
Source: Superintendency of Banks Agreement 10 of 2015, article 15, as amended by Agreements 2 of 2019 and 6 of 2022
How you prove who owns the company
Any one of these is enough for the bank.
- A copy of the share certificate.
- A sworn statement by the president or the secretary.
- A copy of the share register.
- A certificate from the resident agent.
Source: Superintendency of Banks Agreement 10 of 2015, article 16, as amended by Agreement 6 of 2022
A company with no operations in Panama
No rule we have read stops a bank from opening an account for a company with no operations in Panama and a foreign owner. What matters is the risk each bank assigns and the sworn tax-compliance statement required of companies that operate abroad.
Source: Law 23 of 2015, article 26A; Superintendency of Banks Agreement 10 of 2015, articles 11 and 15
U.S. owners
No rule orders Panamanian banks to refuse U.S. persons. Under FATCA, the bank reports U.S. account holders and the U.S. persons who control passive entities to the IRS, which explains why some banks ask more questions.
Source: Law 47 of 2016; Law 51 of 2016, article 11
Questions people ask
Do I have to go to the bank in person?
The banking rules we have read do not require it. Each bank sets its own policy.
What initial deposit is normal?
No rule sets one. Any figure is the bank’s commercial policy.
Does the bank see my beneficial owner registry?
No. The registry is private. The bank does its own due diligence and asks for its own documents.
What the law does not say
- Whether you must appear in person to open the account.
- The usual initial deposit.
- Which banks accept companies without operations in Panama, or U.S. owners, in practice. That is market information, not law.
Official sources
Last verified: October 28, 2026
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