Yes we will open a bank account for your existing company, but there are a few considerations.   If we form a corporation we guarantee we will get you a bank account.  In the case of an existing company, where you are not using our directors, we cannot guarantee the bank will open the account.  The cost for this non-guaranteed service is $695.  We do not recommend this option.  If, however, you wish us to guarantee that the account will open we have to appoint our nominees as directors.  The cost to replace your directors with our is $250 per director.  When you add up the cost it is only modestly cheaper than our package price for a corporation + bank account + anonymous visa debit card.  If the corporation already owns assets like real estate, then this may make sense.  Otherwise, a new corporation may be a better option.

Many customers ask us why we cannot guarantee a bank account for their existing corporation unless they are using our directors?  Many law firms in Panama have opened up accounts for just about anyone who will pay them.  The banks have opened accounts for these people, and then something very bad happens, and there is a big mess.  For example, there was a scandal here not too long ago where fake drugs were sold by a company registered here in Panama.  These fake drugs caused several deaths!  People were arrested, including SOME DIRECTORS, and the banks took notice.  The banks stopped opening bank accounts for the law firms in question.  In fact, the banks know most of law firms here who do offshore incorporation work (often by the nominee directors) and they have stopped opening accounts for law firms who give them questionable clients.  Because of this MANY LAW FIRMS NOW ONLY OFFER OFFSHORE INCORPORATION SERVICES because they CAN'T get you a bank account. The corporation they sell you is not worth the paper the articles of incorporation are printed on.  Less reputable firms will not tell you this up front, but when you try to get a bank account, you get turned down.  Avoid offshore companies/law firms that will only form a corporation for you but will not get you a bank account.  THESE OFFSHORE COMPANIES/LAW FIRMS ARE EASY TO SPOT, BECAUSE THEY ONLY OFFER AN "INTRODUCTION TO THE BANK".  The banks know right away which law firm you used by the nominee directors.  Sadly these clients come to us on a daily basis asking us to help them open a bank account.  The only way we can help them is to make another corporation, with our respected directors.

We have a special relationship with several banks and so we know exactly how new account approval works.  (This relationship does not influence the bank's decisions.  Everything we do is completely above board.)  The new account approval committee knows exactly which nominees they will approve or not.  If you have the wrong nominees you are rejected.  If you have a nominee they don't know you go on the "Will investigate later" pile.  If you have a nominee from a law firm they trust you are approved quickly.  The reason that it takes 3-5 days to get approved is because this committee meets once or twice per week.  Basically if you don't get your account approved in 1 week, your likelihood of getting it approved is very low.

When you setup a corporation with us we use our nominee directors who the bank knows (mutli-billion dollar bank) and we are able to get the account approved in 3-5 days!  In fact the bank we will get you an account with, (one of the largest and most respected here in Panama), now refers their clients to us, if they are in need of a corporation.  Trust me, this kind of trust relationship helps us get your account open quickly.

Bottom Line:  If you use your own directors who the bank doesn't know or trust, sometimes it takes a few weeks for approval and at times they are not approved.  It is much faster and easier to buy our corporate package, which includes a Panama bearer share corporation and bank account.  The account has English or Spanish service, online banking - including the ability to send wires from the online banking system (be careful about this - some of our competitors tell you they can get you online banking but what they really mean is you can view your account online and do very little.)  The account also comes with a visa debit card which can be used all around the world for purchases or cash withdrawal from bank machines / instant tellers.

If you are considering opening an offshore bank account we recommend you read this.