How to open personal and corporate bank accounts in Panama
Most of the biggest banks in Panama require clients to be either citizens or residents of the country (or in the process of obtaining residency in Panama) in order to open a personal bank account. The majority of individuals who open a personal bank account in Panama are either residents of Panama or are in the process of applying for residency in Panama, and they naturally need a bank account in order to qualify for residency, pay their local bills, and do business in the country.