Personal and business banking for international clients. A Panama bank account starts with a documented profile: who you are, why you need the account and where the money comes from. Fischer & Cie. helps you prepare the application and coordinate the agreed steps with a suitable institution.
Which account do you need?
Personal accounts
For living expenses, savings or a planned move to Panama, we first establish your nationality, current residence, tax residence and intended use. Resident and nonresident applications can involve different bank policies. A residence permit alone does not guarantee acceptance.
Business accounts
A company needs a clear business purpose, an understandable ownership structure and evidence of its expected transactions. Directors, beneficial owners and authorised signatories may all need to provide information. Incorporating a Panama company and obtaining a bank account are separate processes.
See our company formation services →
How we can help
- Review the proposed account use, the applicant’s profile and the connection with Panama.
- Identify a bank whose current requirements fit the application and confirm the preparation needed.
- Help organise the supporting documents, corporate records and explanations requested.
- Coordinate the agreed communications, appointments and follow-up questions in English.
The engagement sets out the work included. The bank carries out its own checks and makes the account-opening decision; no approval or opening date is guaranteed.
Documents to prepare
The final checklist depends on the bank, account type and risk assessment. Typical requests include:
- Valid identification and evidence of your residential address.
- Occupation or business activity, income and the reason for opening the account.
- Evidence of source of funds and, where requested, source of wealth, such as bank statements, tax records, contracts or sale documents.
- Tax-residence declarations and relevant tax identification numbers.
- For entities: incorporation documents, current registry information, ownership and control details, signatory authority and evidence of trading activity.
Documents must tell a consistent story. We clarify which originals, certifications or translations are needed before you order them. Keep the bank informed of material changes after opening; compliance checks continue throughout the relationship.
Can I open an account remotely?
Remote preparation is often possible. Whether identification, signatures or account activation can be completed remotely depends on the institution and your profile. Confirm the procedure before booking a trip or assuming that a power of attorney will replace a personal appointment.
Privacy, CRS and FATCA
Bank confidentiality does not remove statutory reporting duties. Panama operates financial-account information exchange under the Common Reporting Standard (CRS) and the FATCA arrangement with the United States. The applicable reporting treatment depends on the account and relevant tax status.
Banks therefore ask about tax residence, tax identification numbers and U.S. connections. Provide accurate information for every applicable jurisdiction. An account in Panama does not by itself change your tax residence or end reporting obligations elsewhere.
If you are a U.S. person
Tell us at the outset. FATCA documentation may be required, and personal U.S. reporting obligations can include FBAR and Form 8938 where applicable. The bank’s reporting does not replace the account holder’s own filings. Obtain U.S. tax advice for your circumstances. Canadian, UK and other clients should likewise confirm home-country obligations with an appropriate adviser.
Fees, deposits and timing
We distinguish our professional fees from the bank’s opening or maintenance charges, minimum balances, transfer costs and third-party expenses. These depend on the selected bank and the work involved. We confirm our scope and fees before you engage us; bank tariffs and deposit requirements are confirmed separately.
An initial deposit or minimum balance is money held in the account, rather than a professional fee. Account-opening time depends on document quality, follow-up checks and the bank’s decision.
Start with a profile review
For an initial enquiry, tell us whether you need a personal or business account, your nationality, current country of residence and intended account use. We will agree an appropriate channel before requesting identification or financial documents.
Related services
Panama residency options · Company formation · Powers of attorney and wills
Official information
- Superintendencia de Bancos: customer due diligence and beneficial-owner controls (2026)
- Panama DGI: Common Reporting Standard
- Panama DGI: FATCA guidance
- IRS: filing requirements for U.S. citizens and residents abroad
Information updated: 18 October 2026. General information; the applicable requirements and agreed services depend on your circumstances. Panamanian legal services are provided by Karen Dorcy, Abogada, Idoneidad No. 10179, and registered partner attorneys as applicable.