In this article, we’re exploring the Panama banking system. We’ll also share the potential account opening challenges, risks of the financial system, and other Panama banking risks that foreign non-residents should be aware of before applying to open accounts here.
This article is part of our free series on the risks of 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 more information on the Panama banking system.
Table of Contents
- Panama Banking System
- Frequently Asked Panama Banking Questions
- Ready to Unlock the Benefits of Banking in Panama?
Panama Banking System
The Panama banking system is regulated by the Superintendency of Banks of Panama where it manages and oversees all banking groups in the country, including representative offices, domestic banks, and international financial institutions.Â
Panama’s banking system is relatively stable, despite the Panama Papers, the 2016 Panama bank scandal. Banking here does offer a wide range of financial services to a variety of different client types. These client types include foreign non-resident individuals and entities with existing ties to Panama, planned future ties to Panama, and no ties to Panama whatsoever.
Individuals and entities seeking offshore banking opportunities that offer asset diversification and financial stability in a stable banking jurisdiction that adheres to international banking standards and Panama’s banking laws might consider Panama as a banking option.
Like banking anywhere, whether or not Panama is suitable for your particular client profile will depend on your citizenship, residency, banking needs, deposit level, and much more.
If you are interested in learning more about banking in Panama, 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?
Frequently Asked Panama Banking Questions
Below are a few of the most common questions we receive from people exploring the Panama banking system. If you have further questions you would like answered, don’t hesitate to get in touch with us directly.
What Banking System Is in Panama?
Panama’s banking system is home to both local and international financial institutions, offering diverse banking services to resident and non-resident individuals and foreign and offshore businesses. Panama’s banking system is relatively stable and adheres to global banking standards, including the Common Reporting Standard (CRS).
Can an American Open a Bank Account in Panama?
Yes, an American can open a bank account in Panama as long as they choose the right bank, meet the account opening requirements, and have a suitable client profile. Americans can also open bank accounts in Panama 100% remotely.
How Safe Are Panamanian Banks?
Panamanian banks are relatively safe and stable as long as you choose banks that have strong management, responsible lending, and maintain adequate capital and liquidity ratios. It’s important to choose the right banks and bankers and maintain reasonable deposits that match your risk tolerance.
Ready to Unlock the Benefits of Banking in Panama?
If you’re seeking better banking options, diversification, or enhanced privacy—our International Account Opening Service is your fastest, most effective path forward.
Trusted by high-net-worth-individuals and 8-figure businesses, it’s a fully personalized solution backed by real experts, with real results.
Here’s what you can expect:
✅ Direct support from our international banking experts—so you’re never stuck guessing what to do next.
✅ Prequalification with banks that match your profile and actually want you (or your business) as a customer.
✅ Custom strategies to overcome any challenges and help you open the accounts you need—whether you’re a non-resident, entrepreneur, investor, or global citizen.
✅ Personal introductions to banks that perfectly match your profile (not random suggestions you have to cold-call yourself).
✅ Answers to tough questions about documentation, compliance, and what works in today’s evolving banking climate.
✅ Guaranteed account opening because we will keep working with you until you successfully open the bank account you need.
And yes—GlobalBanks’ International Account Opening Service is purpose-built for foreign and non-resident individuals and companies.
But, spots are limited and we only accept qualified applicants—so if you’re ready to move forward, take 60 seconds to complete your free assessment.
