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]

enceladus said:
Can a resident of Panama open a bank account for a foreign company?
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Donno, never had that usecase.

enceladus said:
Apart from the entry barriers, is the banking system worth it?
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Depends on what you are looking for. Expect to fill in 15 to 20 forms before your account will be opened.

enceladus said:
Will banks in EU send money there?
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Yes.