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Executive Summary - Reports are coming in that some of the Panama Banks are refusing to open any sort of bank account for Americans. This is no surprise. That is how Switzerland started out and then they were turning over account information on thousands of Americans having bank accounts there. We expect to see the banks will soon start telling the Americans with accounts in Panama to sign waivers of bank secrecy and file W-9 forms to the IRS reporting the accounts to the IRS. If the Americans fail to execute this paperwork then the bank account gets closed in 30 days. This is what the Swiss did and are still doing. Canadians are expecting to be treated in a similar fashion.
Information Requests for Americans - We are now getting reports that some Panama Banks are sending information requests to old American Account Holders. They are asking for explanations on the nature of the business, the source of their funds etc. This is the way the trouble in Switzerland started and eventually led to the betrayal of many thousands of banking clients.
We can get Americans bank accounts in a number of different jurisdictions. Inquire.