Panama/Saint Lucia Banking?

[enceladus]

I have a 100% legit business under my name and a EU bank account.

However, I'd like a second bank account as a backup, and I've been offered an introduction to a bank in Panama (don't know which one) and to BOSLIL bank in St Lucia.

Would anyone care to elaborate on the banking situation in Panama? Are they trustworthy / competitive? Do they operate with correspondent banks which will ask dozens of questions on every wire or refuse payments?

Also any opinions on Saint Lucia as a banking jurisdiction?

 

[diablo]

follow this, interesting never heard about Saint Lucia as an offshore jurisdiction!

 

[Milky Moon]

No idea why you even would consider a bank in St Lucia. Or an account in Panama (Panama certainly is not what is used to be).

As for Panama: Since January 2017 persons living and working abroad cannot open a business bank account in Panama for non-Panamanian companies. For a Panama corporation you must now have a business permit, a physical office, and be operating in the country to get a bank account in Panama. (You need to visit in person, generally no PoA accepted)

 

[enceladus]

Can a resident of Panama open a bank account for a foreign company?

Apart from the entry barriers, is the banking system worth it? Will banks in EU send money there?

 

[Milky Moon]

Can a resident of Panama open a bank account for a foreign company?

Donno, never had that usecase.

Apart from the entry barriers, is the banking system worth it?

Depends on what you are looking for. Expect to fill in 15 to 20 forms before your account will be opened.

Will banks in EU send money there?

Yes.