Corporate Bank Accounts in Panama
Opening a corporate bank account is a critical step after forming or acquiring a company in Panama. ShelfCompanies24 has established strong relationships with major Panamanian banks and assists clients with the entire account opening process.
Major Banks in Panama
We work with the following banks and financial institutions in Panama:
- Banco General, BAC International, Banistmo (Bancolombia), Global Bank, Multibank
Major banking center with 70+ banks. USD as currency. International financial center.
Account Opening Process
- Bank selection — Based on your business type, expected transaction volume, and currency requirements, we recommend the most suitable bank.
- Document preparation — We help prepare all required documentation including corporate documents, business plan summary, and compliance materials.
- Application submission — We submit the account application to the selected bank on your behalf.
- Compliance review — The bank conducts its KYC/AML due diligence checks.
- Account activation — Once approved, you receive account details, online banking credentials, and payment cards.
Required Documents
- Certificate of incorporation
- Articles of association
- Register of directors and shareholders
- Passport copies of all directors and beneficial owners
- Proof of address for all directors and beneficial owners
- Description of business activities and expected turnover
- Source of funds documentation
Account Features
| Feature |
Details |
| Currency |
USD (US Dollar, alongside PAB) + multi-currency options available |
| Online Banking |
Available with most banks |
| Debit/Credit Cards |
Corporate cards available |
| SEPA Transfers |
Panama banks support SEPA payments |
| International Transfers |
SWIFT transfers worldwide |
For assistance with opening a corporate bank account in Panama, please contact our consultants.
Related Services in Panama
Frequently Asked Questions
Which banks can I open an account with in Panama?
We work with major banks in Panama including Banco General, BAC International, Banistmo (Bancolombia), Global Bank, Multibank. We recommend the best bank based on your business needs.
Can I open a bank account in Panama remotely?
Remote account opening depends on the bank’s policy. Some Panamanian banks allow remote opening while others require a personal visit. Our team advises on the best approach.
What documents are needed to open a corporate bank account in Panama?
You will need the company’s incorporation documents, passports and proof of address for directors and beneficial owners, and a description of business activities.
How long does it take to open a business bank account in Panama?
The account opening process in Panama typically takes 1-4 weeks depending on the bank and the complexity of the corporate structure.
Content prepared by Aleksandra Kowalska, Corporate Client Service Specialist at ShelfCompanies24. Master of Law from Kozminski University in Warsaw. Approved by Tomasz Bielski, Managing Director.
