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Panama Banking License

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Panama Banking Licence and Superintendency of Banks Requirements

The Superintendency of Banks of Panama (SBP) regulates banking under Decree Law No. 9 of 1998 and its subsequent amendments. Panama hosts one of the largest international banking centres in the Western Hemisphere, with over 80 licensed banks holding combined assets exceeding USD 130 billion. The country operates a fully dollarised economy with no exchange controls, making it operationally straightforward for international banking structures.

The SBP issues three classes of banking licence to serve different operational needs and target markets:

General Licence

Authorises full domestic and international banking operations, including the right to accept deposits from Panamanian residents. Minimum paid-up capital: USD 10 million. Requires physical office and local management presence in Panama.

International Licence

Authorises offshore banking operations booked from Panama but restricted to non-resident clients only. Minimum paid-up capital: USD 3 million. No mandatory physical office in Panama is required for international licence holders, though a local correspondent representative must be appointed.

Representation Licence

Limited to representing a foreign banking group in Panama. No active deposit-taking or lending permitted. Used by international banks seeking a commercial presence without full regulatory authorisation.

Directors and Shareholders

At least three directors are required, at least one of whom must have demonstrated banking expertise. All directors and shareholders holding 5% or more undergo SBP fit and proper assessment.

Ongoing Reporting

Annual SBP returns, audited financial statements, and AML/CFT compliance reports are required. Panama banking secrecy provisions, while aligned with international AML standards, still provide client confidentiality protections within the legal framework.

Neptune Fiduciaries: Panama Banking Licence Support

Neptune Fiduciaries handles Panama banking licence applications for both General and International Licences, including SBP pre-qualification assessment, documentation preparation, director vetting coordination, and ongoing annual compliance reporting.

Get in Touch

Contact Neptune Fiduciaries at info@neptunecorporate.com or sales@neptunecorporate.com or visit our Contact Us page.

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