Offshore
Banking Setup

Frequently Asked Questions

• Can I open a bank account remotely?

  Some banks, depending on where you plan to use their services, use semi-remote processes, meaning at least one in-person visit is required to sign forms. However, some banks can accept a fully remote process, provided that the bank forms and supporting financial documents are authenticated and apostilled; expect additional fees.

• Do I need to be a resident of the country in which I want to open a bank account or access banking services?

  You do not strictly need to be a legal resident of most countries where we can support you; we can still assist you in accessing banking services, but in practice, banks strongly favour residents and make non‑resident accounts harder to open, more document-intensive, and more selective.

• What main documents are required to open a bank account as a non-resident?

  Most banks ask non-residents for a similar core package: solid ID, proof of address, proof of income/source of funds, and bank references, with some variations by bank.

• Is there a minimum deposit to open bank accounts?

  Yes. Most banks, including Panamanian banks, for example, require a minimum opening balance that varies by bank, your residency status, and whether the account is personal or corporate.

• How long does the account opening process take?

  Bank onboarding timelines vary depending on the applicant's profile and the nation’s jurisdiction in which you choose to bank. Timelines are typically longer if you’re a non-resident or if you’re looking to open a corporate account. Ultimately, timelines are ultimately determined by the banks.

• Are there restrictions on incoming transfers?

  Credible and upstanding banks apply AML rules, reporting thresholds, and practical limits or additional checks to larger or unusual inflows. For example, Panamanian financial institutions cannot currently work with transfers from red-listed/black-listed countries.