In this article, we’re exploring whether or not Panama banks offer investment services to foreign non-residents. We’ll also cover other financial services non-residents can tap into when opening top-tier bank accounts, like private bank accounts in Panama.
This article is part of our free series on Private Banking in Panama. You can access this series right now by using the link above.
In addition to detailed account opening guides, this free series on Panama banking also discusses the largest banks in Panama, Panama opening requirements, the costs of banking in Panama, and much more. Use the link above to start exploring all of your free Panama banking content right now.
Alternatively, use the table of contents to continue exploring private banks in Panama.
Table of Contents
- Do Panama Banks Offer Investment Services?
- What Financial Services Can Non-Residents Access in Panama?
- Frequently Asked Panama Banking Questions
- Do You Want to Open a Panama Bank Account?
Do Panama Banks Offer Investment Services?
Yes, Panama banks offer investment services catering to a variety of client groups with diverse financial goals. These client groups include both non-resident individuals and foreign businesses.
Investment services can vary between banks but are often found in the form of investment advisory, portfolio management, and financial instruments such as bonds, mutual funds, and stocks.
The investment services available to you will depend on your citizenship, residency, deposit level, and banking needs. That said, the bank you choose to open with will also have an impact on the services you have access to.
Panama’s banking sector, known for its offshore and international banking services, including numbered bank accounts, isn’t as established in the wealth management and private banking sector as Switzerland or Liechtenstein.
Individuals who struggle to open bank accounts offshore elsewhere or who have lower deposit requirements but require financial or investment services may consider opening accounts in Panama.
If you are interested in private banking options in Panama further, don’t forget to visit our comprehensive guide on Banking in Panama, available in the link above.
Alternatively, if you would like to explore all of your offshore banking options, download our free guide and compare Panama to some of the top banking jurisdictions available.
Do You Want to Explore All Your Offshore Banking Options?
What Financial Services Can Non-Residents Access in Panama?
Non-residents can access a variety of financial services in Panama. These services range from bank accounts, investment services, wealth management services, financial planning, portfolio management, and much more.
These types of services are tailored to the client’s financial needs and goals. Non-residents can access these financial services through Panamanian banks by meeting the account opening requirements, making a qualifying deposit, and having a suitable client profile.
Choosing the right financial services to enhance your financial goals is crucial. Knowing where you can access them is also important.
Here’s a breakdown of the types of financial services offered by Panama banks for non-resident clients.
Wealth Management Services
One popular asset management feature you can access in Panama is wealth management services. This type of service extends well beyond traditional banking. These services are tailored to the client’s financial needs and are often done through financial planning, asset optimization, and strategic investment planning.
Investment Services
Investment services in Panama are provided through investment advisory, portfolio management, and access to international financial instruments such as bonds, stocks, and mutual funds. Non-residents can access these investment services through their financial institutions in Panama.
Other Panamanian Banking Services
Other Panamanian banking services include savings accounts, chequing accounts, multicurrency accounts, corporate accounts, estate planning, financial solutions, and more. These banking services are tailored to the client’s profile and banking needs.
The types of services (and financial institutions) available to you will depend on your citizenship, residency, deposit level, and banking needs. That said, not all banks in Panama accept foreign non-residents, and of the ones that do, not all of them offer the same financial services.
Bank selection will be an important factor to consider when choosing where to open a bank account in Panama as a non-resident.
Frequently Asked Questions
Below are a few of the most common questions we receive from people exploring whether or not Panama banks offer investment services. If you have further questions you would like answered, don’t hesitate to get in touch with us directly.
Can Americans Open Bank Accounts in Panama?
Yes, Americans can open bank accounts in Panama by applying for an account with one of the foreigner-friendly banks. Account opening deposits typically range between USD 10,000 and USD 250,000, depending on the bank and type of account being opened.
Do Banks Provide Investment Services?
Yes, most banks do provide investment services to their clients. Depending on the bank you choose to open with, the investment services available to you will vary. Generally, these types of services range from investment advisory, portfolio management, and financial instruments such as stocks, bonds, and mutual funds.
Which US Banks Have Branches in Panama?
The US Banks that have branches in Panama include Citibank and JPMorgan Chase Bank. Citibank has a general banking license to operate in Panama, whereas JPMorgan Chase Bank has the authority to act as a representative in Panama. Neither of these banks offer retail consumer banking services. Instead, they offer commercial and investment banking services.
Do You Want to Open a Panama Bank Account?
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