Obtaining Financing through the use of local banks is a common practice in Panama.
Our firm will be more than glad to arrange meetting with bankers, so that they you can get financing for the property you want to purchase.
Most banks will conduct due diligence prior to approval of the mortgage.
These are some of the requirements that a bank will ask:
Besides the commercial documentation required, if the mortgage contracting party is a Corporation, and if there are foreigners amongst the Shareholders or Board Members, or if the ultimate beneficiary owner is a foreigner, such persons also have to individually comply with the requirements.
- A completed and duly signed application
- A copy of the passport, including the pages showing the migratory movements (entry and exit seals)
- A copy of a second ID (Driver’s licence, Social Security Card, etc.)
- 2 Last Income Tax Statements
- Two bank references letters from his/her country of origin
- If he/she has a bank account in Panama, a reference letter from the local bank
- Credit references from his/her country of origin
For further information please contact us: