Installing Panama Corporation, Foundation, or Panama LLC
Are you thinking of creating a Panama Corporation, Foundation or Panama LLC?
The initial process is simple. Costs vary between $ 1,500 and $ 5,000. It may be something cheaper, but many law firms in Panama are such an unpleasant habit to add hidden charges later to documents you did not know that you needed – so be careful.
However, it's not as easy as opening a bank account in Panama. Compare this to the United States for a moment. The US continues to be one of the easiest locations in the world to open a bank account. Answer some questions, enter some forms, and soon you will get a bank account.
However, the OECD, American and G20 wars on terrorism, taxes, drugs and money laundering are quite cumbersome to open panama corporate bank accounts. These days, according to Panamanian banks, the opening of an offshore bank account is not a right but a privilege – especially if you are an American! We hope to jump over it.
Up, we probably have two bank references. If you currently have only one bank account, you probably need to replace a letter from the credit card company for the second bank reference. You will need at least one local professional reference – in other words, to introduce a Panama law or accounting office. "You know" is very important in Panama.
A very good introduction might avoid the need for bank references, but then the personal banker's banker would be better off to present it. I saw this (and yes, I know how to do it for the needy).
You should have two government IDs and photographs: your passport, of course, then a one-second ID, such as a driver license.
Armed with these documents, meet a bank representative and prepare for his trip to Panama. During your encounter (which is more like a job) you can expect many questions. Why do you open this account? How Much Money Will Originally Be Deployed? Where is the money coming from? How much money are you waiting for on the account? What will be the source of these? How much monthly do you buy from the account?
Can you open an offshore bank account online without going to Panama? Yes, under certain special circumstances … but it's sticky. It is a great effort to get acquainted with your banker face-to-face.
However, you may want to ask for your bank account in Panama at all. Of course, most Panamanian lawyers want to sell you a Panama bank account. But do you really need it? For example, if we strive to diversify from the dollar, for example. Much more sense to involve the Panama Corporation or Foundation, you can continue your account in an offshore bank, for example in Uruguay.