Panama business bank account

To a bank, it's not so much a question about whether they open accounts for foreign companies or not. It's a question of whether the applicant is suitable and valuable (i.e. worth the risk). The bank down the corner from you in your home country probably has several foreign or even "offshore" companies on the books.

Of course, some banks are more open than others to foreign companies. At the moment, MMG Bank is the easiest to work with.

But I've seen a few other banks (Credicorp, Multibank, Bladex) open accounts for foreign companies in recent times, but they have been high quality applicants that bring a lot of value to the bank (millions in turnover). A good introducer can help.

If you're a startup with modest projections and no connection to Panama, I think your options are going to be very limited.

MMG are great. Have 7 figures with them in USD EUR GBP. Never had a problem.

magicmat said:

MMG are great. Have 7 figures with them in USD EUR GBP. Never had a problem.

Do you have Panama business? What type of business?

Yes, I have a Panama Corporation. The MMG process for on-boarding took about 6 months.

magicmat said:

The MMG process for on-boarding took about 6 months.

MMG is what ?

MMG Bank. MMG Bank Corporation (Panamá). Based in Panama City.