Our excellent relationship with the banking industry in Panama allows us to easily guide you to the most friendly of local banks, where we can help you open your personal and business accounts, facilitate a mortgage for your real estate purchase, or assist you with any of your investment needs.
In Panama, the banks consider it not as a right but a privilege to open an off-shore bank account. We can help ensure that you have the proper documentation to do this prior to your arrival.Our company can facilitate in finding you the best options for certified deposits and local securities at excellent rates.
Panamanian banks are easing restrictions on lending to foreigners. Non-citizens qualify for up to 70% financing of the purchase price with a few restrictions related to term of loan and age. Obtaining a mortgage loan in Panama will help establish a credit base for any future financing in Panama. Panamanian banks do not report loans to your home country credit report or use the outside agency’s.
When applying for a loan or mortgage, the bank will ask you for a number of documents detailing your financial background. It is imperative that you provide them with everything they ask for as any missing documents will cause a delay in the approval process. Once the client has satisfied all of the banks documentation requirements, there is a 14 day turnaround on approvals. During this 14 day period, the bank’s credit committee will analyze your case based on your income and repayment abilities. Once approved, a loan term sheet will be issued by the bank for the buyers review. If the buyer agrees to the loan, he or she signs the term sheet, returns it to the bank, and is issued an irrevocable promissory letter for the loan amount approved.
We have helped many investors with their offshore portfolio goals with our basket of comprehensive consulting services. Contact us today for a confidential meeting to discuss your next investment opportunity.