Panama Offshore Account

Panama is a leading financial services center that has about 75 different banking institutions, which include government owned, general and international or offshore banks.

Offshore banks in Panama offer a wide variety of services and are among the most advanced in the world. Panama offshore accounts are very popular among foreign corporations and nationals that are both actively involved in forming Panama offshore Foundations, Trusts or Corporations and seeking means of protecting their assets.

A Panama offshore account can be opened in the name of any offshore business entity that was incorporated either in Panama or any other offshore jurisdiction. Panama bank accounts are protected by strict privacy laws that are enshrined in the Corporate Laws of Panama, while all transactions involving an offshore account in Panama are treated with complete confidentiality.

Panama offshore bank accounts are renowned for the options and components that they come along with, which ensure that flexible and convenient access is granted to offshore accounts in Panama, thereby providing reliable and effective offshore banking services. Some of the features of Panama offshore accounts include internet, mobile and telephone banking, around the clock call center services or telephone operatives that assist in maintaining contact with the bank and checking the current status of a Panama offshore account.

A major advantage of an offshore account in Panama is that it can be established in at least three main currencies, mainly Euro, USD and GBP, because of the multicurrency facilities that are made available to Panama’s offshore account holders. Among the offshore accounts that can be opened in Panama are Panama offshore savings accounts, investment, private, personal, corporate and commercial accounts. A Panama offshore account can also be tailored for fiduciary purposes by offshore banks in Panama that provide offshore Trust formation services and offshore trust accounts.

Taking full advantage of the number of services rendered by offshore banks in Panama and the types of offshore accounts available can be enhanced by making use of other Panama offshore options such as mutual funds, unemployment funds, financing for trade and other international investment projects.

Panama offshore accounts are useful for generating savings on taxes and are especially ideal for estate and succession tax planning, while the funds accumulated in a Panama offshore account can be used for retirement. Panama is considered one of the best countries for retirement in the world. The role of offshore banks via which offshore accounts are opened in Panama has been invaluable to the country due to the contribution made in creating employment, the purchase of office supplies and through funds generated by the Panamanian government from annual maintenance fees.

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