Offshore Panama Personal Account

Panama has the most modern and successful international banking center in Latin America. As of the month of December 2006, it is reported that the International Banking Center (IBC) is made up of 87 banks. As of the month of October of 2006 the total assets amounted to US$43,366 million. The Financial Intermediation activity represents 7.5% of the Gross Internal Product (GIP).

The IBC has more than fourteen thousand employees, with a payroll that exceeds the US$165 millions a year.

Why an Offshore Bank Account?
Specifically an offshore bank account can also be of benefit to some expatriates residing in low or no tax countries as any interest earned on offshore bank deposits is paid without the deduction of taxation.

Offshore banking can also benefit companies with a presence in more than one country for example, as having a single central offshore bank account will add a degree of management simplicity to all banking activity.

Those who specifically wish to protect their financial assets may well find that by placing them offshore they effectively place them outside the reach of chance litigation. Adding an offshore element removes a layer of transparency which may help protect an individual from this unfair practice.

A Basic Corporate Brokerage Account introduction to a recommended brokerage firm is included at no additional cost with the purchase of a corporation (or foundation) package.

Introduction to the bank, assistance with account documentation and processing. We never have signatory rights nor online bank account passwords which are given direct to you. We use a few different banks in Panama all of which have online banking. Some will provide a Visa card or an ATM card good all over the world so please mention if this is important. All the banks are reliable, fully licensed and covered by Panama Bank Secrecy laws which are strict. We do not discuss bank names or provide bank documents until after our fee is paid.

Panama personal bank accounts will only be opened for people purchasing a Panama Corporation or Foundation wanting an additional personal Panama Bank Account.