DISCLAIMER: POLS (POLS) is a law firm that provides Introductions to licensed banks, brokerage firms, investment advisors, forex funds, mutual funds, and other licensed investment companies or professionals. POLS is NOT a licensed bank, brokerage firm, mutual fund, forex fund, or investment advisor.
A Basic Panama Corporate Brokerage Account Introduction to a correspondent Panama brokerage firm is included at no additional cost with the purchase of a Panama corporation (or Panama foundation) package. Otherwise, if purchasing the Panama corporate brokerage account by itself, the introduction and processing account set up fee is US$500.
Basic Panama corporate brokerage accounts intro are set up through our correspondent Panama brokerage firm in Panama City, Republic of Panama. The Panama brokerage firm is located in Panama and is a National Securities Commission registered, licensed and insured international firm. All securities and cash deposits are held in custody by the largest international securities clearing firms in the world.
The brokers/financial advisors are all English/Spanish speaking, National Securities Commission registered, licensed brokers who can provide you with complete investment advice for investing in mutual funds, stocks, bonds, options, money markets, etc. They mainly trade on the US and Canadian stock exchanges (NYSE, NASDAQ, AMEX, Toronto, etc.), however they can buy or sell securities on most major exchanges around the globe.
Trade fees vary depending on the trade amount, type of security traded, and the stock exchange traded on. We cannot provide a fees list for trading since it varies so much from one market to another, however, we can say that trade fees are about the same as any full service broker. Full service brokers normally charge a small percentage (about 0.5%) of the trade instead of a standard fee. However, when purchasing no-load mutual funds, the fund company will generally cover the trade fee.
Each Panama corporate brokerage account intro includes Internet access.
Internet access is provided so you can access your Panama corporate brokerage account information online using a secured password and user ID.
You may deposit either USD or Euro´s to the Panama corporate brokerage account intro. Any transfers received in other currencies will be immediately converted to USD prior to entering the account. Once the Panama brokerage account intro is funded, you may convert your USD or Euro´s to any other major currency, so in effect, the Panama corporate brokerage account intro is a multi-currency account.
The following documentation is required for each signatory:
A. Photocopy of Passport. The photocopy of passport should include the photo of the person, the personal details (name, date of birth, passport number, etc.), and the signature. The photocopy should be clear and legible.
B. One (1) Financial Reference Letter. The financial reference letter can be from any established bank, brokerage firm, or credit union. The letter should be on the financial institution’s letterhead, and should include the signature of an official, and the contact information (address, telephone, fax, email, etc.). There is no specific format that the reference letter must be written in, however, we have provided an example below for your reference.
C. One (1) Personal or Professional Reference Letter. The personal or professional reference letter can be from any friend, business associate, attorney, accountant, or any company you deal with personally or professionally. If from a professional or company, the letter should be on letterhead, and should include the signature of the representative issuing the letter, and the contact information (address, telephone, fax, email, etc.).
D. Proof of Address. This can be a utility bill, phone bill, insurance bill, bank statement, or any bill or statement showing your physical address.
* Documentation requirements are subject to change without notice.
** Brokerage firms other than our correspondent brokers may require other documentation.
If you wish to be the signatory on the Panama brokerage account, you must also sign the Panama corporate brokerage account application. As signatory, you can place trades, make wire transfers, and access your account on the internet.
Minimum Deposit Requirement
The minimum Panama corporate brokerage account intro opening deposit is US$5,000, which should be made by USD check or wire transfer. After the Panama brokerage account intro is set up, additional deposits may be made by USD check or by wire transfer. The Panama brokerage firm will forward you an introductory email providing the check deposit and wire transfer instructions once the account is set up and initially funded.
Miscellaneous Fees *
Panama Corporate Brokerage Account Intro Opening Fee: Free w/ purchase of entity, otherwise US$500 for the introduction and account processing.
Wire Transfer In: US$15
Wire Transfer Out: US$40 **
* Fees are subject to change without prior notice.
** Third party wire transfers are permitted on a case by case basis with written request from the signatory of account. We recommend that if you need to make payments regularly to third parties by wire transfer, you should set up a corporate bank account instead of (or along with) a brokerage account.
*** Internal transfers (journals) to accounts within the same institution are permitted.
**** Acceptable deposits are USD Checks (personal or bank certified or official checks), or wire transfers. Unacceptable deposits are cash, money orders, travelers checks, double endorsed checks, foreign items/thrift withdrawal orders, returned checks, and third party checks or checks referring to more than one account number.
Set Up Procedures
A. Submit an Online Application – Click on “Order Now”, and complete an online application, then hit “submit”.
B. Submit Payment – Payment can be made by Bank Wire Transfer, Western Union Money Transfer, USD Check, or USD International Money Order.
C. Receive Documents – Once we receive payment for the structure, we will forward you the corporate documents and Panama brokerage account applications for your signature (account applications are only included if you wish to be signatory on the Panama brokerage account). You should sign the account applications where indicated, and forward them back to us along with the required documentation.
D. Account is Set Up – When we receive the signed applications, the account applications will be completed with the corporate information, and forwarded to the recommended Panama brokerage firm. The account number will generally be provided within 5 business days from the date the documents are submitted to the recommended Panama brokerage firm.
E. Begin Using Account – You will receive an email from the recommended Panama brokerage firm containing the complete account protocol for making deposits, executing trades, contact information of the brokerage firm, etc. You fund the account by check or wire transfer to activate it, then once your account is funded, you may begin trading.