Opening a Bank Account in Panama as a Non-Resident
Specific bank names for Panama shift often at the non-resident retail tier — confirm current acceptance policy directly with a shortlist of local and international banks before committing funds.
| Minimum deposit | From ~$100 for entry-level personal accounts up to USD 5,000–25,000 for offshore-focused accounts; private banking tiers can require CHF 250,000+ |
|---|---|
| Remote opening | Not standard — a branch visit is typically required |
| Typical timeline | 15–60 days through a structured introduction channel, depending on institution and profile complexity |
Remote opening in detail
Some banks allow an application to start online or via a local agent/law firm, but full remote-only opening is uncommon — expect a video interview and/or certified documents even when a branch visit isn't strictly required.
Documents you'll need
- 2 forms of ID (passport + national ID)
- Proof of residential address
- Source-of-income documentation (work contract, tax declaration)
- Bank reference letter confirming standing with your current bank
Is Panama CRS-Compliant?
Panama participates in the OECD Common Reporting Standard — your account details can be exchanged with your country of tax residence. Check the exact exchange status on our sister site's live CRS/FATCA jurisdiction checker.
Frequently Asked Questions
Can a non-resident open a bank account in Panama?
Some banks allow an application to start online or via a local agent/law firm, but full remote-only opening is uncommon — expect a video interview and/or certified documents even when a branch visit isn't strictly required.
What is the minimum deposit for a non-resident account in Panama?
From ~$100 for entry-level personal accounts up to USD 5,000–25,000 for offshore-focused accounts; private banking tiers can require CHF 250,000+
How long does it take to open a bank account in Panama as a non-resident?
15–60 days through a structured introduction channel, depending on institution and profile complexity
Sources, last verified 2026-09-29:
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