The current market situation and international regulatory pressure have made it extremely difficult to maintain or establish relationships with a commercial bank.
Our network of financial service providers can help your institution with third-party inbound and outbound transfers in USD$, EUR, and GBP. We can also help you with letters of credit, bank guarantees, escrow accounts and other instruments for international trade.
Our asset banking and commercial operations service consists of helping the client to have access to the banking and financial system, so that they can carry out their economic transactions, in a secure, transparent and efficient way, through different mechanisms.
Our office does not offer or process urgent accounts as banks take a minimum of 4-6 weeks to complete the corresponding checks for opening bank accounts, depending on the jurisdiction, the complexity of the transactions related to the source of funds, and the number of signatories in the accounts.
In Panama, the account opening process is very demanding, so it takes no less than 4 weeks, from the moment all the documentation is delivered to the bank.
Operations and funds from exclusively foreign sources are completely exempt from taxes in the Republic of Panama and in the different jurisdictions we work with, as they maintain a territorial tax system and only require the payment of taxes for local operations carried out in their respective territories.
However, the client is responsible for the tax returns that must be made in the jurisdiction where he has his tax residence or where he carries out business operations, in accordance with the laws of the applicable jurisdictions, so it is recommended that he carry out exhaustive advice in this regard.
Likewise, the client is responsible for the legality of the origin of the funds, the payment of his taxes or his declarations. Our law firm is committed to transparency, legality and efficiency.
Finally, the law requires offshore companies to have supporting documents of their operations and to keep accounting records, which can be kept at the resident agent's office or at any other location determined by the client.
We can help with the establishment of a financial institution (from start to finish), so that at the end of the project you can start receiving clients, from setting up the company, to the shareholding structure, applying for and obtaining the license on your behalf, finding human resources or an office if necessary, from carrying out all the administrative formalities, establishing contact with the legal office, identifying service providers and negotiating rates, etc.
There are different types of licenses (e-money, PSP, EMI, MSO, financial advisory, crypto, etc.) in various jurisdictions (Panama, Caribbean, UK, Lithuania, Estonia, Hong Kong, etc.), it all depends on your business model.
Whether you need a credit card program for your customers or for your employees anywhere in the world, through recognized providers, we can offer MasterCard, Visa or Union Pay International cards in various currencies (USD$ and EUR are the most common).
All credit card programs are different and there is no minimum or maximum number of cards to order, but you should provide us with as many details as possible so that we can get the best deal for you.
Our Law Firm currently has a WEBSITE SPECIALIZED IN BANK ACCOUNTS OPENING IN PANAMA.
Here you can obtain more complete and detailed information on this topic.