Chen Lee & Associates provides introductory services to support the opening of your bank account in local and international banks in a safe and efficient process, an essential tool to perform financial operations in an offshore structure for fiscal planning or assets protection together with your offshore corporations, the private interest foundations and Trusts. The paperwork can be performed from abroad. In general, the Banks shall require information and references about the commercial and banking profile of the interested party and, in some instances, an interview or personal meeting with the future Executive of your banking account in Panama shall be required. Once the request has been accepted by the Bank, you will be able to make deposits and withdrawals of funds, execute transfers or submit instructions for investments, get check books, credit cards, etc. With this, our task would be completed, with no link whatsoever with the movement of the account or transactions performed on it for reasons of discretion and confidentiality.
We offer the introductory services for opening the following types of Bank Accounts:
• Personal
• Corporative
• Private Investment
You do not need to come down to Panama to open your Bank Account. It shall depend on the Bank you choose and the conditions of same. You will only need to send by courier the following, previous verification:
1. Copy of your Passport with your personal data and your signature authenticated by a Notary and by a Panamanian Consulate or with an Apostille. The Apostille (La Haya Convention, 1961) is the fastest way to authenticate documents and is normally obtained through the Secretary of State of your State of origin (in the United States) or by the Foreign Office (in the United Kingdom). Not available in Canada.
2. Copy of your ID or Driver’s License authenticated by a Notary and by a Panamanian Consulate or with an Apostille. The Apostille (La Haya Convention, 1961) is the fastest way to authenticate documents and is normally obtained through the Secretary of State of your State of origin (in the United States) or by the Foreign Office (in the United Kingdom). Not available in Canada.
3. A Bank letter of reference, preferably two (2).
4. A personal letter of reference, preferably two (2).
5. A Commercial letter of reference, preferably two (2).
6. All Bank forms duly completed and signed. The signature shall be authenticated by a Notary and by a Panamanian Consulate or with an Apostille. The Apostille (La Haya Convention, 1961) is the fastest way to authenticate documents and is normally obtained through the Secretary of State of your State of origin (in the United States) or by the Foreign Office (in the United Kingdom). Not available in Canada.
7. Chen Lee & Associates shall be sending you the Power of Attorney for your signature and same shall be authenticated by a Notary and by a Panamanian Consulate or an Apostille. The Apostille (La Haya Convention, 1961) is the fastest way to authenticate documents and is normally obtained through the Secretary of State of your State of origin (in the United States) or by the Foreign Office (in the United Kingdom). Not available in Canada.
In Panama, your Bank Account can be opened in US Dollars or Euros.
All Banks provide services in English and Spanish.
You may obtain an automatic bank teller card in Visa or MasterCard.
You shall have access to your Bank Account online, including the ability to send transfers, obtain statements of account, and reports.
The minimum amount to open a Bank Account in Panama is US$1,000.00 for accounts in US Dollars or 3,000.00 Euros for accounts in Euros.
The Bank Accounts in Panama are safe. There has not been bankruptcy of Banks in Panama for the last 100 years. It is very difficult to obtain a Banking License in Panama, therefore, the banking standards are very high and secure.
