🇵🇦 Panama Offshore Banking
Intelligence Center

The Superintendencia de Bancos de Panama (SBP) has issued updated guidance reinforcing AML/CFT beneficial ownership disclosure requirements for international banking license holders, effective Q4 2026. The circular aligns Panama's framework more closely with FATF Recommendation 24 standards following the country's ongoing mutual evaluation preparation. Compliance officers at licensed institutions are expected to submit updated beneficial ownership registers by October 31, 2026.

Panama's National Immigration Service has confirmed that the Friendly Nations Visa program continues to operate under the current framework established in 2021, with no new country additions or removals announced as of August 4, 2026. However, processing times have extended modestly to an average of 8-10 weeks due to increased application volumes, particularly from European and North American applicants. Prospective applicants are advised to ensure all economic ties documentation is notarized and apostilled before submission.

The SBP issued updated compliance guidance on August 3, 2026 reinforcing enhanced due diligence requirements for correspondent banking relationships, consistent with ongoing FATF monitoring of Panama's AML framework. Licensed banks are reminded that updated UBO disclosure thresholds — now set at 15% beneficial ownership — remain in effect and must be reflected in all new account onboarding procedures. Institutions failing to align internal policies by the September 30, 2026 deadline face potential administrative sanctions.

No formal amendment to the Qualified Investor Visa minimum investment threshold of USD 300,000 was published today, though government sources continue to signal a review of the program structure is underway ahead of Q4 2026. The Friendly Nations Visa program remains active with the current USD 200,000 real estate or business investment requirement unchanged as of this date. Prospective applicants are advised to monitor for any executive decree updates that could alter eligibility criteria before year-end.

Critical deadline approaching, Qualified Investor Visa investment threshold rises from $300,000 to $500,000 after October 15, 2026. Investors looking to obtain Panama permanent residency at the lower $300,000 threshold must submit applications before this date. The cheaper window is closing.

2026 Friendly Nations Visa framework confirmed, post-reform version now requires a qualifying tie to Panama (real estate investment, professional employment, or business activity). The historic 'open a bank account and incorporate' path is no longer available. Early 2020s marketing guides are now out of date.

Panama 2026 banking documentation requirements increased, enhanced KYC, source of wealth documentation, and bank reference letters now standard for all non-resident account applications. Timeline for non-resident account opening: 1-30 days (faster in person, longer remotely).

Panama confirmed as second-largest international banking centre after Switzerland, dollarised economy and territorial tax system continue to attract internationally active businesses despite increased compliance requirements. CD rates at Banisi reaching 5.5% fixed-term, 3% savings, among the highest in the region.

Panama Digital Nomad Visa framework clarified, the Digital Nomad Visa is a 9-18 month stay permit only, not a residency route. Minimum foreign income of $36,000/year required. No pathway to permanent residency through this visa. Applicants seeking permanent residency must use Qualified Investor, Friendly Nations, Pensionado, or Reforestation routes.