Form a Panama Foundation

$2,850.00

Set up a Panama Foundation

Foundations are hybrid in nature, containing features of the corporation (legal personality) and the trust (created for a purpose or benefit). Unlike a company, foundations have no shareholders, though they have legal personality and have a board (council members). Unlike a Trust, a Foundation has a legal personality on its own.

A foundation may hold assets in its own name for the purposes set out in its constitutive documents, and its administration and operation are carried out by the Council Members in accordance with the Foundation charter or regulations of association rather than fiduciary principles.

To summarize, a private interest foundation is an orphan entity with the following characteristics

No owners/shareholders
It has legal personality
It can be solely established to carry out a purpose and not for the benefit of persons.
Provides for a perpetuity of purpose.

Panama Private Interest Foundation Formation and First-Year Fees – USD 2,850.00 (All Included)

Note that our incorporation and annual corporate service fees are “all-included fees”, and cover all the required services to form a Foundation in Panama, and keep it in good standing, as well as government fees and duties, disbursements such as courier fees, and assignments such as the preparation of a certificate of incumbency, and the notarization of documents, which are generally required for opening bank accounts.

drafting the Foundation Public Deed (English and Spanish)
executing the Foundation Public Deed before notary
filing the Foundation Public Deed with the Public Register of Panama
paying the Foundation incorporation fees and franchise taxes to the Public Register
obtaining the Certificate of Inscription of Foundation from the Public Register
drafting and executing the Foundation Council Organizational Resolutions
drafting and executing the Foundation Resolutions for the appointment of Protector
drafting and executing the Foundation Resolutions for the appointment of Beneficiaries
drafting and executing the Foundation Regulations (including unlimited revisions by the client)
providing notarized and apostilled copies of all the Foundation documents, including certified translations to English
providing a certificate of incumbency for bank account opening
delivering the apostilled and notarized set and the certificate of incumbency to the client’s mailing address (including courier fees)
providing registered office services, including registered address, for one (1) year
providing registered agent and secretarial services for one (1) year

Time to form

It generally takes us 1-3 days to prepare the incorporation documents, executing them as a deed by the Notary, and file them with the Registro Publico (Registrar). Once the company is filed, it takes around 5-10 business days for the Registrar to process the incorporation and issue the stamped Public Deed and related documents.

Nominee Services (Optional)

Nominee Council Members / Officers

All Panamanian Foundations are required to have at least 3 council members/officers (President, Treasurer, and Secretary). Officers’ details are available for public inspection in the public registry. Most clients opt to appoint from one to three Nominee Council Members to fulfill the aforementioned positions.

One Nominee Director (Natural Person) – USD 700.00 p.a.*
Two Nominee Directors (Natural Persons) – USD 1,200.00 p.a.*
Three Nominee Directors (Natural Persons) – USD 1,500.00 p.a., including Notarized and Apostilled Power of Attorney

*If the client wishes to appoint one or two Nominee Directors, we assume that a Notarized and Apostilled Power of Attorney shall not be required.

Nominee Founder

All Panamanian Foundations must have a Founder. Founder details are available for public inspection in the public registry.

Nominee Founder (Natural Person) – USD 800.00 p.a.

Bank Account Opening Services (Optional)

We assist you in opening a bank account in Panama.

Panama Bank Account - USD $ 1,200.00

Panama Bank Account

Bank

Min Deposit

Cards

Currencies

Remote

Comments

Panama Bank Account

USD 50,000

Yes

USD, EUR

Yes

Panama Bank Account

USD 10,000

Yes

USD, EUR, CHF, GBP, CAD

Yes

Note that we can also open overseas bank accounts for Panama companies in the following offshore jurisdictions:

Andorra Bank Account - USD $ 1,200.00

Andorra Bank Account

Bank

Min Deposit

Cards

Currencies

Remote

Comments

Andorra Bank Account

USD 500,000

Yes

USD, EUR, CHF, CAD, AUD, SEK, NOK, NZD

Yes

Private Bank with focus on wealth management. If they open a corporate account for an active company, they would need that either the account has a substantial amount on the account, or that the UBO himself opens an account for wealth management.
Antigua Bank Account - USD $ 300.00

Antigua Bank Account

Bank

Min Deposit

Cards

Currencies

Remote

Comments

Antigua Bank Account

USD 10,000

Yes

USD, EUR

Yes

In euros DBank processes only via SEPA. In dollars at the moment only with correspondents in the US, through FEDWIRE (not ACH at the moment). Cash Secured Visa Credit Card available.

Antigua Bank Account

USD 25,000

Yes

USD, EUR, GBP

Yes

Cash Secured Visa Credit Card

Antigua Bank Account

USD 5,000

Yes

USD, EUR

Yes

UnionPay Cards work without inconvenience in the USA.
Armenia Bank Account - USD $ 1,200.00

Armenia Bank Account

Bank

Min Deposit

Cards

Currencies

Remote

Comments

Armenia Bank Account

USD 50,000

Yes

EUR, USD, RUB, AMD

Yes

Business connection to Armenia is required. The annual outgoing turnover of the client should be at least 10 mln USD per year. The annual number of outgoing transfers should be at least 60 per year. Note that the banks considers smaller companies is well on case-by-case basis, but they could charges additional fees.
Bahamas Bank Account - USD $ 500.00

Bahamas Bank Account

Bank

Min Deposit

Cards

Currencies

Remote

Comments

Bahamas Bank Account

USD 1,000,000

No

USD

Yes

Family Offices, Fund Managers and Asset Managers only.

Bahamas Bank Account

USD 10,000,000

No

Multicurrency

Yes

Primary focus with physical presence in Bahamas. Business interest in the Bahamas. The company needs to have been in existence for a minimum of 3 years.

Bahamas Bank Account

USD 1,000,000

Yes

Multicurrency

Yes

Credit Card available on a case by case basis.

Bahamas Bank Account

USD 1,000,000

Yes

Multicurrency

Yes

Remote account opening is possible, but the bank will visit the client within first year after opening.

Bahamas Bank Account

USD 500,000

Yes

USD, EUR

Yes

Prepaid debit card available.
Belize Bank Account - USD $ 300.00

Belize Bank Account

Bank

Min Deposit

Cards

Currencies

Remote

Comments

Belize Bank Account

USD 4,000

No

EUR, GBP, USD

Yes

Belize Bank Account

USD 1,000

Yes

USD, EUR, GBP, CAD, CHF, AUD, AED, CNY, SEK, NOK

Yes

Prepaid Visa cards available.

Belize Bank Account

USD 3,000

Yes

Multicurrency

Yes
BVI Bank Account - USD $ 900.00

BVI Bank Account

Bank

Min Deposit

Cards

Currencies

Remote

Comments

BVI Bank Account

USD 20,000

No

USD, GBP, HKD

Yes

Bank of Asia does not onboard corporations who have a connection in US and Russia.

BVI Bank Account

USD 500,000

No

Multicurrency

Yes

VP Bank offers services to local BVI residents as well as international clients who have BVI companies, trusts or fund structures. It is primarily focused on financing, investment management, custodial and securities trading accounts. No Commercial Activity, only for asset management business.
Cayman Islands Bank Account - USD $ 900.00

Cayman Islands Bank Account

Bank

Min Deposit

Cards

Currencies

Remote

Comments

Cayman Islands Bank Account

USD 250,000

Yes

USD, EUR, GBP, CAD, AUD, JPY, SEK, CHF

Yes

Cayman Islands Bank Account

USD 100,000

Yes

USD, EUR, CAD, GBP, AUD, Multicurrency

Yes

NCB Cayman Bank offers trading, private and investment bank accounts
Cook Islands Bank Account - USD $ 600.00

Cook Islands Bank Account

Bank

Min Deposit

Cards

Currencies

Remote

Comments

Cook Islands Bank Account

USD 250,000

Yes

USD, EUR, GBP, CAD, NZD, AUD, SGD, HKD

Yes

Clients can have a corporate account for operational purposes only if they open an investment account as well.
Curaçao Bank Account - USD $ 500.00

Curaçao Bank Account

Bank

Min Deposit

Cards

Currencies

Remote

Comments

Curaçao Bank Account

USD 100,000

No

Multicurrency

Yes

Internet Banking only for viewing the account, not for operating

Curaçao Bank Account

N/A

Yes

Multicurrency

Yes
Cyprus Bank Account - USD $ 1,200.00

Cyprus Bank Account

Bank

Min Deposit

Cards

Currencies

Remote

Comments

Cyprus Bank Account

N/A

Yes

Multicurrency

Yes

Supports large Cypriot and international groups, preferably operating from Cyprus and international companies in their expansion and operations in Cyprus.
Dominica Bank Account - USD $ 300.00

Dominica Bank Account

Bank

Min Deposit

Cards

Currencies

Remote

Comments

Dominica Bank Account

USD 15,000

Yes

USD, EUR, GBP, CHF

Yes

Dominica Bank Account

USD 15,000

Yes

USD, EUR, GBP

Yes

Dominica Bank Account

N/A

No

Multicurrency

Yes

SWIFT transactions are carried out only through a pool account in the name of the bank.

Dominica Bank Account

N/A

No

Multicurrency

Yes

Dominica Bank Account

N/A

No

EUR, USD

Yes

SWIFT transactions are carried out only through a pool account in the name of the bank.
Gibraltar Bank Account - USD $ 1,200.00

Gibraltar Bank Account

Bank

Min Deposit

Cards

Currencies

Remote

Comments

Gibraltar Bank Account

N/A

No

Multicurrency

Yes

Gibraltar Bank Account

USD 200,000

No

USD, EUR, GBP

Yes
Hong Kong Bank Account - USD $ 1,400.00

Hong Kong Bank Account

Bank

Min Deposit

Cards

Currencies

Remote

Comments

Hong Kong Bank Account

HKD 100,000

Yes

Multicurrency

No

A business nexus in Hong Kong is strictly required, in the form of clients, suppliers, employees or other counterparties.

Hong Kong Bank Account

HKD 200,000

Yes

HKD, USD, Multicurrency

No

A business nexus in Hong Kong is strictly required, in the form of clients, suppliers, employees or other counterparties.
Isle of Man Bank Account - USD $ 1,200.00

Isle of Man Bank Account

Bank

Min Deposit

Cards

Currencies

Remote

Comments

Isle of Man Bank Account

N/A

No

USD, AUD, EUR, CZK, DKK, HUF, SGD, JPY, NOK, GBP, ZAR, ILS, NZD, PLN, CHF, SEK, CAD, BGN

Yes

Preferred industries: Asset Holding Entities, e-sports, yachting, aviation, e-commerce, internet sales and trading, business consultancy, advertising and marketing, property development and management.
Labuan Bank Account - USD $ 500.00

Labuan Bank Account

Bank

Min Deposit

Cards

Currencies

Remote

Comments

Labuan Bank Account

USD 10,000

No

USD, JPY, SGD, EUR, GBP

Yes

Labuan Bank Account

USD 250,000

No

Multicurrency

Yes

Labuan Bank Account

USD 25,000

No

USD, EUR, CAD, CHF, GBP, HKD, SGD, JPY, THB, AED

Yes

They focus more on Labuan incorporated entities.
Liechtenstein Bank Account - USD $ 1,200.00

Liechtenstein Bank Account

Bank

Min Deposit

Cards

Currencies

Remote

Comments

Liechtenstein Bank Account

USD 500,000

No

Multicurrency

Yes

Every active NFE needs to have a substance.
Mauritius Bank Account - USD $ 600.00

Mauritius Bank Account

Bank

Min Deposit

Cards

Currencies

Remote

Comments

Mauritius Bank Account

USD 50,000

No

Multicurrency

Yes

Mauritius Bank Account

USD 50,000

Yes

Multicurrency

Yes
Nevis Bank Account - USD $ 300.00

Nevis Bank Account

Bank

Min Deposit

Cards

Currencies

Remote

Comments

Nevis Bank Account

USD 10,000

No

USD, EUR, GBP, Multicurrency, CHF, CAD

Yes

Nevis Bank Account

USD 100,000

No

USD, EUR, GBP, CHF, AUD, CAD, AED, JPY, SGD, HKD

Yes

Nevis Bank Account

USD 25,000

No

Multicurrency

Yes

Nevis Bank Account

USD 10,000

No

USD

Yes
Puerto Rico Bank Account - USD $ 300.00

Puerto Rico Bank Account

Bank

Min Deposit

Cards

Currencies

Remote

Comments

Puerto Rico Bank Account

N/A

Yes

USD, HKD, AUD, CAD, CHF, CNY, DKK, EUR, GBP, JPY, NOK, NZD, SEK, SGD, TRL, XAF, ZAR

Yes

Unionpay Merchant service for clients.

Puerto Rico Bank Account

USD 25,000

No

USD

Yes

Their main focus is on commercial type, trade finance.

Puerto Rico Bank Account

USD 10,000

No

Multicurrency

Yes

Puerto Rico Bank Account

USD 150,000

No

USD

Yes
Saint Lucia Bank Account - USD $ 300.00

Saint Lucia Bank Account

Bank

Min Deposit

Cards

Currencies

Remote

Comments

Saint Lucia Bank Account

N/A

No

Multicurrency

Yes

Saint Lucia Bank Account

USD 5,000

Yes

USD, EUR, GBP, HKD, Multicurrency, CAD, CHF, AED, AUD, NZD, NOK, SEK, THB, JPY, ZAR

Yes
Seychelles Bank Account - USD $ 500.00

Seychelles Bank Account

Bank

Min Deposit

Cards

Currencies

Remote

Comments

Seychelles Bank Account

USD 25,000

No

USD

Yes

Internet banking is in view mode only, all transactions are carried out via email or by phone.
Singapore Bank Account - USD $ 900.00

Singapore Bank Account

Bank

Min Deposit

Cards

Currencies

Remote

Comments

Singapore Bank Account

SGD 100,000

No

USD, SGD, EUR, GBP, NZD, RMB, AUD, JPY, HKD, CHF, CAD

Yes

Nexus in the form of client/supplier/partner/contractor in Singapore required.

Singapore Bank Account

USD 3,000,000

No

USD, SGD

Yes

Singapore Bank Account

SGD 250,000

No

Multicurrency

No

Nexus in the form of client/supplier/partner/contractor in Singapore required.

Singapore Bank Account

SGD/USD 30,000

No

SGD, AUD, CAD, RMB, EUR, HKD, JPY, NZD, GBP, USD

Yes

Nexus in the form of client/supplier/partner/contractor in Singapore required.

Singapore Bank Account

SGD/USD 30,000

No

Multicurrency

Yes

Nexus in the form of client/supplier/partner/contractor in Singapore required.

Singapore Bank Account

USD 30,000

No

USD, SGD, AUD, CAD, HKD, NZD, GBP, EUR, JPY, CHF

Yes

Nexus in the form of client/supplier/partner/contractor in Singapore required.

Singapore Bank Account

SGD 250,000

No

Multicurrency

Yes

Nexus in the form of client/supplier/partner/contractor in Singapore required.
Switzerland Bank Account - USD $ 1,200.00

Switzerland Bank Account

Bank

Min Deposit

Cards

Currencies

Remote

Comments

Switzerland Bank Account

CHF 500,000

Yes

EUR, GBP, CHF, CAD, AUD, JPY, SGD, PLN, HKD, NOK, SEK, ILS, MXN, DKK, TRL, NZD, AED

Yes

Amina Bank does not open accounts with a pure transactional business nexus.

Switzerland Bank Account

CHF 1,000,000

Yes

Multicurrency

Yes

Switzerland Bank Account

CHF 500,000

Yes

Multicurrency

Yes

Switzerland Bank Account

CHF 5,000

Yes

Multicurrency

Yes

Companies must have an expected turnover of at least CHF 3,000,000.

Switzerland Bank Account

CHF 3,000,000

Yes

Multicurrency

Yes

Deposit must be maintained in crypto assets held through the bank's custody services. Minimum Average Balance for high risk jurisdictions should be 1-2Mio CHF.
USA Bank Account - USD $ 1,400.00

USA Bank Account

Bank

Min Deposit

Cards

Currencies

Remote

Comments

USA Bank Account

USD 100,000

No

USD

Yes

min deposit USD 100k and more AND/OR with revenues of USD 1M

USA Bank Account

from 10,000 but preferred 250K-300K

Yes

USD, Multicurrency

Yes

They tend to focus more on technology/startup companies that are focused on growing and scaling through future equity raises and subsequent debt facilities.

USA Bank Account

USD 5,000

Yes

USD

Yes

The company should trade in Asia and the USA.
Vanuatu Bank Account - USD $ 500.00

Vanuatu Bank Account

Bank

Min Deposit

Cards

Currencies

Remote

Comments

Vanuatu Bank Account

1,500 EUR

No

EUR, GBP, USD

Yes

Outgoing USD transactions cannot be facilitated.
EMI Account - USD $ 300.00

EMI Accounts

EMI

Min Deposit

Cards

Currencies

Remote

DNBC (CA) (former DSBC)

N/A

No

EUR, CAD, GBP, CHF, HKD

Yes

Hong Kong EMI Account

N/A

Yes

Multicurrency

Yes

Kazakhstan EMI Account

Depending on category.

No

Multicurrency

Yes

Lithuania EMI Account

N/A

Yes

EUR

Yes

Lithuania EMI Account

N/A

No

EUR, CAD, GBP, CHF, HKD

Yes

Lithuania EMI Account

N/A

No

EUR

Yes

Lithuania EMI Account

N/A

No

EUR, USD, GBP, SEK, JPY, HKD

Yes

Luxembourg EMI Account

N/A

No

Multicurrency

Yes

Singapore EMI Account

N/A

Yes

SGD, USD

Yes

United Kingdom EMI Account

N/A

Yes

EUR, GBP

Yes

United Kingdom EMI Account

N/A

No

EUR, GBP

Yes

United Kingdom EMI Account

Depending on category.

No

EUR, GBP

Yes

Our bank account opening service is not just a mere introduction to the bank. We assist you in filling out the business plan forms appropriately and help you understand and provide business details, commercial information, and purpose/use of the bank account that a given bank wants to know in order to approve your account application.

Banks want certainty and clarity on how the account will be used. Everything must be watertight. We will work with you to make sure there is minimal ‘back and forth’ and a smooth account opening process.