Yes you can deposit checks made out to your offshore company into your offshore bank account.  In both cases you have to login to your profile, change the payee to your offshore company name.  Do not change the address to Panama, as the processor may not like this.  Instead, use a maildrop in a location that does not cause tax related questions.  (ie. an address in Canada is perfect).

Depositing a check to an Offshore Account

Once you have the check you will need to have it mailed to Panama for deposit.  To save money, you can get an account with "Mailboxes etc." in Panama.  They will give you a Miami mailing address (a full address not just a PO Box).  It takes only 2 days for mail to go from Miami to Panama City.  They only charge about $20 per month for up to 2 pounds per month.  You will need a third party to deposit your checks because Panama banks are not allowed to accept checks by mail and deposit them.  Contact us for details.