Contents of this ranking
What a Panamanian bank asks of a non-resident
Legal Solutions Panamá, “¿Puedo abrir una cuenta bancaria en Panamá si soy extranjero?”
The same firm qualifies that “not everything is black and white”: some banks open accounts for non-residents who clearly prove the source of their funds, though they demand “high amounts as an opening deposit and minimum balance to maintain”. The usual requirements are an apostilled passport, two bank reference letters on letterhead, a second form of ID, proof of address, evidence of income and each bank’s due diligence forms. The list of general-licence banks is published by the Superintendency of Banks.
With an immigration card
Standard process at almost every bank; passport, card and references are enough.
Without residency
Only some banks; apostilled passport, references, source of funds and higher minimum balances.
Corporate account
In the name of a Panamanian company; the bank reviews the company and its beneficial owners.
Interview
Many banks require it; several accept it by video call, others only in person.
How the ranking was made
Firms in Panama City that state on their website a bank account opening service for foreigners or include it in their company incorporation packages were selected, and the rating and reviews of their Google Maps listings were recorded on 25 September 2026. The first group gathers firms with specific pages or guides on banking for non-residents; the second, corporate firms that handle the account as part of setting up the company. Within each group the order is by volume of reviews. Fees and each bank’s minimum amounts, which change without notice, are not included.
The eight firms, with rating and reviews
| # | Firm | Google rating | Reviews | Banking service | Profile |
|---|---|---|---|---|---|
| Group A: documented bank account opening service | |||||
| 1 | Kraemer & Kraemer | 4.6 | 99 | Personal and corporate accounts for residency and investment clients | English and Portuguese speakers; three offices |
| 2 | Legal Solutions Panamá | 4.9 | 48 | Guides by country of origin (Colombia, Mexico, Peru), personal, corporate and digital nomad accounts | Latin Americans and Europeans who invest or relocate |
| 3 | PGS Attorneys | 4.7 | 28 | Opening linked to residency and companies | Clients in Spanish, English, German and Italian |
| 4 | Mata & Pitti | 4.7 | 17 | Corporate structures and foundations with an associated account | International estates |
| Group B: account included in company incorporation | |||||
| 5 | Chen Lee & Asociados | 4.7 | 56 | Corporate account when incorporating the company | Commercial and civil, international clients |
| 6 | Paralelaw | 4.9 | 27 | Comprehensive corporate support | Companies in formation and compliance |
| 7 | JSF & Asociados | 5.0 | 26 | Tax and accounting with bank account opening | Anyone needing an accountant and a lawyer in one place |
| 8 | Limitless Legal | 5.0 | 22 | Companies and accounts for entrepreneurs | Startups and digital businesses |
What each firm contributes
- Kraemer & Kraemer has been opening accounts for its residency and property clients since 2008, mostly North Americans and Europeans; its volume of reviews is the largest in the group.
- Legal Solutions Panamá is the only one on the list with public opening guides by country of origin and its own explanatory video; it combines the account with the company and residency, as Kathia Rivera explains in Radar Panamá’s interview on incorporating a company without travelling.
- PGS Attorneys works with clients from Central Europe thanks to its service in German and Italian and its membership of the Alliott network.
- Mata & Pitti, founded in 1984, structures foundations and companies for international estates, with the account as a piece of the structure; the use of those vehicles is explained in the session on private interest foundations.
- Chen Lee, Paralelaw, JSF and Limitless Legal handle the account as part of company incorporation, the most practical route for anyone who will operate from Panama; the full process is in Radar Panamá’s guide to opening a company in Panama.
Steps to open the account from abroad
- Define the type of account: personal, corporate in the name of a Panamanian company, or both. For investment or commercial operations, the corporate account is usually more feasible.
- Gather the file: apostilled passport, two original bank references, second form of ID, proof of address, tax returns or account statements proving the source of funds.
- Choose the bank with the firm, according to nationality, activity and amount; not all accept non-residents.
- Submission and interview, in person or by video call depending on the bank’s policy.
- Initial deposit and activation, with online banking set up to operate from abroad.
A personal or corporate account without residing in Panama?
Legal Solutions Panamá, a law firm based in Panama City led by Kathia Rivera, with more than ten years of experience and clients from more than 55 nationalities, explains in which cases a foreigner can open a bank account in Panama and prepares the file for the right bank.
Frequently asked questions
Can a foreigner without residency open a bank account in Panama?
Yes, but only at some banks and with special requirements: apostilled passport, bank references, clear proof of the source of funds and higher minimum balances.
Do you have to travel to Panama to open the account?
It depends on the bank. Several accept an interview by video call and apostilled documentation sent by the firm; others require physical presence at least once.
Which documents does a Panamanian bank ask for?
Valid passport, immigration card if there is one, two bank reference letters, second form of ID, proof of address, evidence of income and internal due diligence forms.
Is it easier to open a corporate account than a personal one?
For investing or trading, the corporate account in the name of a Panamanian company is usually more feasible, because the bank assesses the company’s activity and its beneficial owners.
Can a law firm guarantee the account will be opened?
No. The decision rests with the bank’s compliance committee. The firm chooses the bank suited to the profile and submits a complete file, which reduces rejections.
How was this ranking ordered?
In two groups depending on whether the firm has a documented banking service, and within each group by number of Google reviews as of 25 September 2026. It does not include fees or minimum balances.
Sources
- ¿Puedo abrir una cuenta bancaria en Panamá si soy extranjero?, Legal Solutions Panamá.
- Google Maps listings of the eight firms, checked on 25 September 2026.
- Superintendency of Banks of Panama, general-licence banks and due diligence rules.
- Kraemer & Kraemer and Mata & Pitti, official websites.
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