People and companies have traditionally chosen to set up an offshore banking account in Panama to find international banking solutions. The procedures for opening an offshore bank account in Panama will change in 2025 because of stricter regulations and the emergence of digital banking platforms.
Our guide covers the entire process for opening an offshore bank account in Panama this year including steps to follow, eligibility requirements, key benefits and necessary documentation.
Our recommendation for managing your offshore account remotely includes Jetonbank as one of the top online banking options.
What Are the Steps to Open an Offshore Banking Account in Panama in 2025?
Opening an offshore bank account in Panama requires following these essential steps.
- Decide on an offshore bank. Investigate available offshore banking institutions and choose a reputable bank operating under Panamanian licenses and regulations. Online leaders such as Jetonbank make the account opening process significantly more efficient.
- Gather required documents. The necessary documents you must provide include your valid passport along with proof of address and documentation of your wealth source. Your selected bank may request different documents so you should verify their requirements.
- Complete the account opening application. The majority of banks provide remote access to online account opening applications for customer convenience. This application gathers both your personal details and financial information.
- Pass KYC and AML checks. The bank has to authenticate your identity and check for financial crimes as part of their Know Your Customer and Anti-Money Laundering obligations. The process typically requires video calls together with document verification and background checks.
- Make your initial deposit. After receiving approval you must make an initial deposit to your new account with a minimum amount that typically falls between $1,000 and $5,000 based on the bank's requirements. Wire transfers are a common funding method.
- Receive your account details. When your offshore bank account in Panama has been successfully opened by the bank you will receive login credentials along with all necessary account access details.
The procedure to open an offshore bank account entirely through an online platform becomes very simple with help from a respected digital bank like Jetonbank by 2025.
Applications today can be processed remotely and finalized in 1-2 business days when all required documents are submitted.
Can Foreign Nationals Open an Offshore Banking Account in Panama in 2025?
Licensed Panamanian banks enable foreign nationals from most countries to establish offshore bank accounts.
However, there are some eligibility requirements:
- The minimum age requirement for opening an offshore bank account is 18 years.
- To open an offshore bank account in Panama you must have either a valid passport or a government-issued identification document from your country of citizenship.
- Permanent residents of Panama must possess their Cédula (Panamanian ID card) to open an offshore bank account.
- International sanctions or trade embargoes must not affect your country of citizenship or residence.
Panamanian banks generally allow account openings as long as applicants meet basic requirements and nationality is not considered a barrier. Countries with rigorous financial privacy laws such as Switzerland drive their citizens to use Panama as their preferred offshore banking location.
Foreign nationals find it quite manageable to establish an offshore bank account in Panama because international digital banks provide valuable assistance.
What Are the Key Benefits of Opening an Offshore Banking Account in Panama?
Both businesses and people find multiple strong incentives to maintain their interest in opening offshore bank accounts in Panama.
- Banking privacy and anonymity. Panamanian banking regulations feature powerful secrecy laws which safeguard customer privacy and ensure financial data remains confidential. Account holders gain greater anonymity through offshore banking than what domestic banking offers.
- Tax benefits. Panamanian tax regulations do not require payment of taxes on interest earned from offshore bank accounts. A number of countries choose not to impose taxes on interest earned from foreign investments. Speak with a tax professional to understand how these financial decisions affect your taxes.
- Asset protection. Panama's legal system ensures comprehensive protection for assets owned within its jurisdiction against creditors. A foreign bank account protects your assets from legal claims and political turmoil in your home country while also keeping them away from creditors.
- International payments. Panamanian bank accounts enable smooth international transactions including money transfers and investments worldwide. Import/export businesses and people who travel internationally often benefit from this feature.
- Regulatory oversight. Panamanian banks deliver financial privacy benefits but remain licensed and regulated while following worldwide anti-money laundering standards. Data security and transparency concerns receive reassurance from this information.
The combination of tax advantages with privacy safeguards and cross-border financial activity support makes opening an offshore Panama bank account attractive to numerous global entities.
What Documents Are Required to Open an Offshore Banking Account in Panama?
To verify account opening Panamanian banks typically demand the same standard documentation.
- Passport or government ID: You need to present either a passport valid for at least six more months or a national identity card.
- Proof of address: To verify address proof Panamanian banks require a utility bill or bank statement that is no older than three months.
- Source of wealth documents: Required documents include bank statements as well as tax returns pay slips business financials and investment documents to show the source and history of your liquid assets.
- References: You must provide contact information for two references who will verify both your identity and financial background.
- Occupation details: You need to present official documents such as a business license or employment contract to prove your occupation.
- Signature form: You will need to submit a sample of your handwritten signature to bank records.
- Photo ID: A recent passport-sized photograph.
Banks sometimes ask for extra documents depending on individual cases including verification of bank account connections, corporate registration documents or comprehensive investment portfolio details.
The preceding list establishes the fundamental documentation requirements for establishing an offshore bank account in Panama during 2025.
Which Online Bank is the Best to Do Offshore Banking Account in Panama in 2025?
Jetonbank provides one of the best fully online options for offshore banking management for those who want to avoid visiting Panama.
The following key benefits demonstrate why Jetonbank could stand out as the best choice:
- Online account opening: Non-residents can establish an account with Jetonbank using our online platform through video verification. No need to visit Panama.
- Strong regulatory oversight: Jetonbank maintains top levels of regulation, security and customer due diligence because it operates as a licensed bank in Dominica.
- Competitive rates and fees: Jetonbank provides competitive interest rates and free currency exchange for various currencies.
- Global payment options: The Jetonbank debit card allows users to conduct bank transfers and bill payments in addition to global shopping activities. Customers receive prompt international payments through competitive exchange rates.
- User-friendly tech platform: The Jetonbanking Platform provides convenient account management through its intuitive online and mobile banking system.
- Multi-asset capabilities: Jetonbank offers crypto trading and custody services through their standard banking relationship.
People who need top-tier digital offshore banking and don't want to visit Panama will find that Jetonbank offers the most straightforward and safest account opening option in 2025.
