Opening a Panama bank account in 2026: stricter KYC is the new normal

The Superintendencia de Bancos Acuerdo No. 1-2026 (16 January 2026; Gaceta 30450-A) updates rules against misuse of banking and fiduciary services. It replaces older due-diligence rules with risk-based KYC, stronger beneficial-owner checks, and simplified, normal, or enhanced measures depending on your profile.

Expect tougher customer and ultimate beneficial owner identification, ongoing monitoring, and more attention to digital-channel risk. In practice, foreigners opening or keeping a Panama account should bring clear source-of-funds documents, tax-residency self-certification (CRS/FATCA), and be ready for in-person interviews.

Incomplete KYC now often means delays or refusals. Banks still set their own checklists within SBP rules—ask your branch what they need before you book the appointment.

Sources

• SBP — Acuerdo 1-2026 PDF
• SBP — related notice

Disclaimer: Not banking or legal advice. Banks set their own onboarding checklists within SBP rules.