Offshore banking – Panama account!

Worried about financial security threats, banks have introduced the concept of bank secrecy. This is often used to protect vital information of bank customers, being evinced through using numbered bank accounts. Bank secrecy is also considered for those who are interested in private banking services. When it comes to offshore banking, bank secrecy is a must (being highly effective when the offshore bank account is set in a tax haven).

We have mentioned that bank secrecy is a subject of interest for private banking. That affirmation is especially true for those who have discovered the benefits of setting up an account in countries like Panama, a genuine tax haven, where taxes are low or inexistent. One has to understand that information needs to be protected, especially when high amounts of money are involved. Offshore banking should not be taken lightly and this is why one needs the best possible company to provide legal assistance.

If you are interested in offshore banking and you intend to open your very own bank account in Panama, then you are in for a real treat. Not only Panama banks offer top-quality private banking services, opening accounts for foreign investors and businessmen, but they make sure you benefit from the most from your decision. Offshore banking is quite popular today and Panama is definitely one of the top choices. Those who search for private banking in Panama discover a wide variety of services including: online banking, sending international wire transfers and checking balances. In fact, owners of an offshore bank account are even given an ATM debit card/VISA card, obtaining the possibility to make withdrawals anywhere in the world.

There are several banks in Panama offering offshore banking services but you will need a legal representative to talk things out. Searching the web for such a specialized company won’t take too long but you have to be certain that the firm you have chosen is the right one. Most of these firms are not willing to reveal any bank names (for private banking) until you hire and pay for their services. They may even ask you to provide all documents needing for setting up the account, which is only logical.

If you are wondering how long it will take before you will be able to enter the private banking paradise of Panama, you ought to know that accounts are opened within 2 and 5 working days, depending on the moment when they receive their fee and documents requested. Clients are invited to go to Panama, see the bank institution and discuss it all with bank managers. The important thing is the corporation is constituted before one arrives in Panama. This way, one will meet the manager to sign up the necessary forms and the offshore account will be opened in no time. There are two main types of accounts available when it comes to offshore banking: checking and savings. Depending on their needs and personal preferences, clients can also choose a time-locked deposit. What is the advantage of such a deposit? It offers some of the highest interest rates available!
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