Brokerage account for Panama company

[efcruzat]

Hi!
I have being trying to open a brokerage account to trade stocks for a Panama offshore company.
I first tried with IB but got rejected, also tried with several US brokerage and none of them accept a company from Panama.
I also tried with Swissquote, but I been back and forth for months now (4 months)
Degiro does not accept corporate accounts, eToro does not accept companies from panama.
Haven´t have luck with Saxo Bank either.
Do you have a recomendation or know some provider that accepts offshore companies?
Thanks in advanced!

 

[chaltron]

Take a look at InvestorsEurope, there have been several reports on this forum that they accept offshore companies.

 

[Sir Gelato]

Try maybe Flow Bank at switzerland. About a year ago they opened an account for a georgian llc

 

[efcruzat]

Take a look at InvestorsEurope, there have been several reports on this forum that they accept offshore companies.

Thanks a lot, i will check it out

 

[JackAlabama]

Try maybe Flow Bank at switzerland. About a year ago they opened an account for a georgian llc

Swiss banks do not like anything related to Panama in general sadly and also just simple wires to legal offices got blocked when then EU blacklisted Panama back in 2018.

 

[romalo]

Hi!
I have being trying to open a brokerage account to trade stocks for a Panama offshore company.
I first tried with IB but got rejected, also tried with several US brokerage and none of them accept a company from Panama.
I also tried with Swissquote, but I been back and forth for months now (4 months)
Degiro does not accept corporate accounts, eToro does not accept companies from panama.
Haven´t have luck with Saxo Bank either.
Do you have a recomendation or know some provider that accepts offshore companies?
Thanks in advanced!

Had any luck finding a brokerage or bank account?

 

[romalo]

I can not find valuable info in the forumI(maybe I look wrong), just like this topic, no end and succes reponses.
I will update my experiences here to open a (non Panama) bank account for a offshore company in Panama (ecommerce turnoover few million euro)


CIMbanque Switzerland: "offshore companies can not be opened in our bank."
Wittix: POSSIBLE. But ridiculous fees. 1.4% for SWIFT etc.
Arival: first yes then no, panama not possible. maybe in future.
Paysera: in process
Bankera: in process, but SWIFt fees ridiculous 2%
Julias bear: 30% chance. in process.

Please if someones know an existing topic with valuable info please tell me !

 

[bastard]

Try maybe Flow Bank at switzerland. About a year ago they opened an account for a georgian llc

but for a Panama company??! I don't believe any swiss operation will do that.

 

[romalo]

credit-suisse: NO
Paysera: first 2 x yes, then NO
Will be continued

but for a Panama company??! I don't believe any swiss operation will do that.

CIMbanque says its possible but not Offshore. but i dont believe its true.

 

[CyprusLawyer101]

What are you trading ?

 

[romalo]

We sell software worldwide. But because I'm no tax payer in Netherlands we started company in Panama to sell off-the-shelf software products.
But clients can not pay easily to Panama bank accounts and they dont have API's like Stripe/revolut etc.

End of this year or next year i go to live in Andorra for few months and now open company there (2% CIT)
and pay dividend to me private(0% tax)
So i transfer all my business money to private money in Andorra.
thats the plan.

 

[CyprusLawyer101]

Hi!
I have being trying to open a brokerage account to trade stocks for a Panama offshore company.
I first tried with IB but got rejected, also tried with several US brokerage and none of them accept a company from Panama.
I also tried with Swissquote, but I been back and forth for months now (4 months)
Degiro does not accept corporate accounts, eToro does not accept companies from panama.
Haven´t have luck with Saxo Bank either.
Do you have a recomendation or know some provider that accepts offshore companies?
Thanks in advanced!

Hi, i am working with a broker that should be able to open for a Panama co trading in stocks. I will ask them and revert. Btw, they also offer access to the Bito ( the bitcoin ETF).

We sell software worldwide. But because I'm no tax payer in Netherlands we started company in Panama to sell off-the-shelf software products.
But clients can not pay easily to Panama bank accounts and they dont have API's like Stripe/revolut etc.

End of this year or next year i go to live in Andorra for few months and now open company there (2% CIT)
and pay dividend to me private(0% tax)
So i transfer all my business money to private money in Andorra.
thats the plan.

Good luck with it. But moving from Panama to Andorra may not be an upgrade in terms of repitation. But if you can work with a local bank there maybe it would work.

 

[startfleetio]

We sell software worldwide. But because I'm no tax payer in Netherlands we started company in Panama to sell off-the-shelf software products.
But clients can not pay easily to Panama bank accounts and they dont have API's like Stripe/revolut etc.

End of this year or next year i go to live in Andorra for few months and now open company there (2% CIT)
and pay dividend to me private(0% tax)
So i transfer all my business money to private money in Andorra.
thats the plan.

Use the Panama as a Holding Company and use it to be the sole member of a US LLC. You will have better luck applying to US brokerages and US crypto exchanges with a US entity. Not to mention Stripe is piece of cake as well.

 

[kilor]

You will have better luck applying to US brokerages and US crypto exchanges

what firms can you suggest?

 

[startfleetio]

what firms can you suggest?

I know IBKR and Tastyworks are possible

 

[kilor]

I know IBKR and Tastyworks are possible

you can open remote there ?

 

[CyprusLawyer101]

Hi, i am working with a broker that should be able to open for a Panama co trading in stocks. I will ask them and revert. Btw, they also offer access to the Bito ( the bitcoin ETF).

@efcruzat i confirm this broker is able to open trading accounts for Panama companies. Kindly let me know if there is interest.

 

[startfleetio]

you can open remote there ?

yes

 

[romalo]

Hi, i am working with a broker that should be able to open for a Panama co trading in stocks. I will ask them and revert. Btw, they also offer access to the Bito ( the bitcoin ETF).


Good luck with it. But moving from Panama to Andorra may not be an upgrade in terms of repitation. But if you can work with a local bank there maybe it would work.

You are right, that why I only talk about our 20y old Dutch company with new banks. Netherlands have good reputation.

@efcruzat i confirm this broker is able to open trading accounts for Panama companies. Kindly let me know if there is interest.

Only trading and crypto or also for normal IT license selling company like us?

Use the Panama as a Holding Company and use it to be the sole member of a US LLC. You will have better luck applying to US brokerages and US crypto exchanges with a US entity. Not to mention Stripe is piece of cake as well.

You are 100% right, even stripe offers Delaware company/account for 500$. But there is one mayor setback. We now use Stripe EU. It’s 1.4% fee for EU cards and FREE for SEPA debit with FULL API. That’s totally amazing because our transactions are average €10.000. If you open a Stripe account in the US u pay 2.9+1=3.9% for EU cards and NO offer SEPA debit.

That’s why we are happy now to got allowed to open a Netherlands Stripe account and got permission to use it for our PANAMA company!!! We were surprised they allow. Only drawback is we have to do pay outs in euros to a EU bank. So we want to pay out to EU bank account that belongs to the Panama company.

Update:
-Binance accepted our Panama company.
-Bankera says they will except.
-CIMbanque Switzerland surprisingly mailed back they want to revieuw our case again.
More updates soon

 

[CyprusLawyer101]

Only trading and crypto or also for normal IT license selling company like us?

Are you looking for a stock trading account or a business account with a Bank?