Inicio | Services | Investment in Panama | Investment Account

Investment Account

The process is easy and can be done rapidly with the financial institutions with which we work, that we consider trustworthy; furthermore, they are the most well-known financial organizations and they keep the higher standards of professionalism and experience in the carrying out of such business activities. Our firm offers the choice of sending to you an application form, so that you can print it and send it back to us through a courier.

WHAT IS THE INVESTMENT ACCOUNT?

An investment account is the deposit you make of your money to be managed on your behalf or through a company in the stock market; for example, the stocks of a company registered in the stock exchange. An investment account could also be a deposit of money made by a group of investors to be invested in a project. Opening an investment account is a quick and simple procedure. Many temporary foreigners are taking advantage of the opportunities offered by the market, along with the help of good stockbrokers. You can invest aggressively or conservatively, depending on your investment profile and of how and how much you desire to invest.

ADVANTAGES

The first step towards building your portfolio is opening an investment account. These accounts allow you to buy shares, bonds, mutual funds, and other securities through brokerage firms whose professionals charge commissions for purchasing and selling such securities.

• Commission: The rate to be paid to brokers is denominated a “commission” and it may vary from $5.00 (five American dollars) to several hundreds of dollars. The difference in the price arises when you choose between a discount broker and a traditional intermediary. Traditional brokers offer a wide range of services and have fixed price labels. Their services involve professional money management and they can offer advice about which investments could be appropriate for you. Discount brokers are companies involved in dealing with investors who prefer to make their own choices without information from third parties; they do not offer advice about how to invest your money, letting you take your own financial decisions. Their costs are lower than those of their traditional counterparts also plainly known as “brokers”.

• Deposit: when opening your new account, you can vary the minimum investment, which generally ranges from $500 to $1000 and even lower for IRA accounts and accounts related to other matters, including retirement and education (IRA is the acronym for Individual Retirement Account). For investment accounts in companies engaged in the securities business, depending in the individual goals of the investor, the minimum amounts may vary from $10,000 up to several millions of dollars. Once you have opened an account, you have the means to begin to invest your money. In an investment account you will have the choice of shaping it through the instructions that you give to your broker to automatically make monthly withdrawals, which will be transferred to a savings account that you own or, if such withdrawals are not programmed, the money credited to you, arising from interests or dividends, can be reinvested in such account so that it would be an effective way of significantly increasing your capital.

REQUIREMENTS

The following documents are necessary either for your personal account or for your corporate investment account.

Personal documents:

• Notarized copy of your valid passport containing your signature.
• Notarized copy of a second identification document.
• Curriculum vitae
• Letter of Labor Reference if your are employed
• Recent and original Letter of Banking Reference
• Recent and original Letter of Commercial Reference
• Recent and original Letter of Personal Reference
• Copy of the last proof of payment of the public service of water supply, electricity or telephone, showing your name and address
• If you are a retired person or a pensioner, you must submit an evidence or certification as a proof of your status.

• Corporate Documents:
• The firm Carles Barraza Abogados will submit to the corresponding financial entity the documents concerning the corporation or foundation that is applying. If it is an overseas corporation or foundation, we must receive from it the following documents along with their translation to Spanish:
• Memorandum and Minute of Constitution or its equivalent
• Certificate of Incorporation
• Certificate of Responsibility
• Resolve of the Board of Directors authorizing the opening and managing of the investment account with the financial entity.

Note: All these corporate documents must bear an apostille.