Offshore and Investing

6 Drop-Dead Simple Foreign Bank Account Destinations. Opening a bank account offshore is one of the first things you’ll want to do. In this report you’ll discover the 6 countries that are the simplest to open a bank account in. Even better, these 6 countries hold some advantage over other jurisdictions in the world.

Here, we list more than a dozen different banks from a variety of jurisdictions around the world that are currently accepting new American clients. Our banking index is categorized based on banks’ minimum account balance requirements, ranging from US$0 to upwards of US$250,000.

We also include a special report on the current state of banking in Panama, the Hub of the Americas.

Why Panama, you ask?

For starters, the country boasts strong regulatory oversight that maintains the stability of the banking system, and banks tend to stay afloat during periods of economic turmoil. Favorable tax incentives and high certificate of deposit (CD) rates draw in a constant flow of cash from foreign individuals and entities. On top of that, there are several laws in place that help ensure the privacy of clients. Together these factors contribute to Panama’s appeal as an offshore banking haven.

Here, we list 10 banks operating in Panama (both domestic and foreign) that are currently accepting new American clients, including information on the requirements for opening accounts.