To open up a personal bank account for the residency-by-investment visa, you will need the following documents: passport, second ID, bank statements, recent bank reference letter and evidence of income, such as tax income report, letter of employment or letter of retirement income. Bankers many times will also request a reference letter from your attorney in Panama. For the self-solvency visa, you will need to bring your passport, a second ID (driver's license or national ID), five passport-sized photos and a national background check authenticated at the consulate of Panama or by apostille. After your bank account is opened, you will also need to request a letter from the bank in Panama and proof that the funds came from abroad, which the bank can provide.
What do I need to open a bank account in Panama for the purpose of RBI?
I plan to travel to Panama and open a bank account in order to transfer $300,000 to this account and use it for the investment residency application. What materials/documents do I need to bring with me?
You’ll basically need your passport, a second ID, a bank reference letter and a copy of your latest income tax return or similar document that proves your main source of income. All banks have their own particular procedures and time frames. Nevertheless, we may guide you to facilitate this setup process.
Depends on the bank, but usually the bank requests: two bank references; evidence of income; tax declaration; income certification or work letter. Some banks request a personal interview.
The bank you choose will ask at least for letters of reference from two banks. Then the immigration office will ask for a police record from your country (FBI-issued, if from the U.S.) with apostille and other documents.