Set Up Fee
Our Set Up Fee is $500 USD for introduction, documentation processing, and account.
About the Brokerage Firm
Our recommended corporate online discount brokerage firm is located in Panama City, Republic of Panama. This is a licensed and registered brokerage firm with Panama’s National Securities Commission. All cash deposits and securities will be held in custody by the largest international clearing firms.
The financial advisors/brokers speak English and Spanish and are licensed brokers providing you with expert investment advice to invest in stocks, mutual funds, bonds, money markets, options, etc. Most of their trades are conducted in the U.S. and Canada stock exchanges (AMEX, NASDAQ, NYSE, Toronto Exchange, etc.). They can also trade on most global major securities exchnages.
The fees for trading online will vary depending on the trade type, amount, and stock exchange being traded on. We can’t provide a list of fees due to these variations. However, most online trading fees range from $35 to $100 USD per trade. When trading no-load mutual funds, the trade fee will be covered by the fund company.
Internet access is included with each account.
Access through an internet account is provided for easy access to your online corporate account secured with a user ID and password.
Funds can be held in EUR, USD, or any of the major currencies.
The following documents are required:
A. Passport photocopy for each signatory. The passport photocopy must be notarized, and must include the person’s photo and personal information (name, birth date, passport number, etc.), plus the signature. The photocopy must be clear and legible.
Note: In the case of a passport not being available, a notarized photocopy of a valid government issued drivers license may be used as long as it has the photo, personal information, and signature.
B. A Financial Reference Letter. Any bank, credit union, or brokerage firm can provide a financial reference letter. The letter should be on the financial institutions letterhead, and should include the signature of an official, and the contact information (address, telephone, fax, email, etc.). While there is no specific format that the reference letter must be written in we are providing an example below for your reference.
* Requirements of documentation are subject to change without notice.
** Brokerage firms other than our recommended brokers may require different documents.
C. Account Applications: If you will be the signatory on the brokerage account, you must also sign the account application forms. As signatory, you can write checks, place trades, make bank wire transfers, and access your brokerage account online.
Minimum Deposit Requirement
$5,000 USD is the minimum account opening deposit, which can be paid by USD check or a bank wire transfer. Once the brokerage account is set up, additional deposits may be made by securities transfer, USD check, or by a bank wire transfer. Our recommended brokerage firm will e-mail you the securities transfer, check deposits book, and bank wire transfer instructions once the brokerage account is established and initially funded.
Miscellaneous Fees *
Account Opening Fee: Free when purchasing a legal entity, otherwise $500 USD
Wire Transfer In: $15 USD
Wire Transfer Out: $40 USD **
Internal Transfer: No Fee***
Margin Extensions: $50 USD per event
Returned Checks: $40 USD per event
Stop Payments: $20 USD per event
Retail Confirmation Fee: $7 USD per confirmation
Inactive Account Custody Fee: $50 USD annually per account
Inactive Account Mutual Funds Only: $25 USD
Personal Gold Pro-Plus Account: $75 USD
Corporate Gold Pro-Plus Account: $150 USD
Copy of Paid Check or MC draft: $2.50 USD
ATM Access: $0.75 USD per transaction
Check Book (200 checks): $10 USD
Foreign Check Deposit: $25 USD ****
* Fees can change without prior notice.
** 3rd party bank wire transfers are not allowed. Outgoing bank wire transfers are only allowed to accounts with the same name. For example, “XYZ Corp.” can only wire funds to another account with the beneficiary name “XYZ Corp.”. If you need to make payments to third parties using a bank wire transfer, we recommend that you establish a corporate bank account instead of (or along with) a brokerage account.
*** Internal transfers to accounts within the same brokerage company are permitted on a case by case basis.
**** Deposits are accepted using USD Checks (personal or bank certified checks from same name account), publicly traded securities, or bank wire transfers. Deposits cannot be made using cash, travelers checks, money orders, returned checks, double endorsed checks, third party checks or checks referring to more than one account number, and foreign items/thrift withdrawal orders.
Set Up Procedures
A. Fill Out Online Application – Click the “Order Now”, and fill out the online application, then click “submit”.
B. Make Payment – Payment can be made by Western Union Money Transfer, Bank Wire Transfer, USD Check, E-Gold, or USD International Money Order.
C. Receiving Documents - When we receive payment for the legal entity, we will forward you the corporate documentation and our recommended brokerage firm’s account application for you to sign (brokerage account applications are only included if you want to be the account signatory). Sign the brokerage account application form where indicated, and send it back to us along with the required documentats.
D. Account is Established - When we receive the completed signed application, we will complete the brokerage account application with the corporate information, and send it to our recommended brokerage company. It will usually take 5 business days from the date the documents are provided to our recommended brokerage firm for the account number to become available.
E. Start Using Account – The brokerage firm will send you an e-mail containing the complete brokerage account instructions for making deposits and executing trades. The complete contact information of the brokerage firm will also be provided.
Contact Us to set up your Panama Corporate Online Discount Brokerage Account.