Conditions requises pour l’ouverture d’un compte à la Banco General pour les étrangers

Opening a Bank Account in Panama

In general, financial institutions in Panama require applicants to provide comprehensive information and references concerning their commercial and banking profile. In certain cases, the bank may also request an interview or personal meeting with the account executive assigned to manage the relationship.

Once the application has been duly approved, the client will have full access to banking services, including deposits, withdrawals, wire transfers, investment instructions, checkbooks, credit cards, and related products. From that point forward, our participation in the process concludes, as we maintain no involvement in the operation of the account, thereby ensuring absolute discretion and confidentiality.

Personal Bank Accounts

Savings and Checking Accounts
The following documentation is typically required:

1. Valid passport or permanent residence card (Cédula E)

2. Bank reference letter

3. If the foreigner’s Cédula (E) is not available, a document evidencing the client’s connection to Panama (e.g., company documents, utility bills, etc.)

4. Proof of income or financial solvency

Corporate Bank Accounts

Savings and Checking Accounts
The following documentation is typically required:

1. Minimum initial deposit: USD $250 for savings accounts / USD $500 for checking accounts

2. Minutes of the Board of Directors

3. Articles of Incorporation (or equivalent constitutive documents), including any amendments

4. Proof of income or financial solvency

5. Business bank reference letters

6. Valid passport or permanent residence card (Cédula E) of the authorized signatories

7. Bank reference letter