Caja de Ahorros: opening an account as a foreigner

Opening an account as a foreigner checked on 27 Oct 2026

Documents required:

• Valid passport or permanent-resident card (cédula E)
• Proof of income
• Lease agreement in the client's name

Is residency required?

The regular account does not require residency, but it does require a lease in your name. For non-residents with foreign income it offers International Banking (Caja Patrimonial).

Online or at a branch?

Digital accounts require a Panamanian ID; with a passport, the regular account is opened at a branch (you can pre-fill the form on its website).

Bank reference letter

Ask the bank (not published on its website)

Minimum opening deposit

$100 for foreigners (includes first-year debit card)

Mortgage: what it costs checked on 27 Oct 2026

Down payment (Panamanians and residents)

Home without the preferential law: up to 95 % financing (5 % down). With the preferential law (up to $120,000): up to 97 % (3 % down). Second residence: 75 %; vacation home: 80 %.

Down payment (foreigners)

Mortgage for non-resident foreigners: up to 70 % financing (30 % down), up to 20 years, and you must open a savings account with 5 % of the property value. Not available for second homes. Resident foreigners: ask the bank.

Reference rate

Home without the preferential law from 7.25 %; second residence and vacation homes 8.00 % + FECI. Rate for the non-resident mortgage: not listed in its fee schedule (ask).

Preferential rate

Yes, from 1.50 % to 3.00 %, homes up to $120,000. Normally only new homes up to B/.120,000 for Panamanians or permanent residents (see below).

Maximum term

Up to 30 years (non-residents: up to 20 years).

Age

Ask the bank (not published)

Maximum loan-to-value

95 % without preferential law; 97 % with it; 70 % non-residents.

Debt-to-income

Ask the bank (not published)

Required insurance

Life and fire insurance assigned to the bank. For non-residents it states the life policy must cover 100 % of the loan (and one year beyond the term) and the fire policy 80 % of the insured value, renewed yearly.

This bank's fees

Legal services $230; loan minute for new homes from $125 (resale from $250); appraisal $429.50 for properties from $120,001 to $300,000; handling up to $10 a month; early payoff 3 % in the first 5 years; notary and Registry per tariff. + ITBMS.

ESTIMATED example: $200,000 home

Illustrative only, not a quote. Principal and interest at the lowest published rate; excludes insurance, fees, FECI (unless stated) and taxes. The bank sets the rate and down payment based on your profile. At $200,000 the preferential rate does not apply (cap $120,000).

What applies at every bank

• Preferential rate (Law 468 of 2025): Law 468 of 24 April 2025 replaced Law 3 of 1985 on preferential interest. The subsidy only applies to a brand-new home that will be your main residence, priced up to B/.120,000 (land and improvements included), for Panamanians or foreigners with permanent residency, once, and only if you have no other home registered in the Public Registry. In Panamá and Panamá Oeste the State subsidises the rate by up to 5.0 points for 8 years (homes up to B/.50,000), 4.5 points for 7 years (B/.50,000.01–80,000) and 4.0 points for 5 years (B/.80,000.01–120,000), never more than 85 % of the bank's rate. Loans that already had the Law 3 subsidy keep it.
• FECI: a 1 % annual surcharge on loans over $5,000. Main-home mortgages do not pay it; second, vacation and investment homes do, and (according to Banco General) so do foreigners without permanent residency.
• ITBI: Property transfer tax (ITBI): 2 % of the higher of the price and the updated cadastral value; by law the seller pays it. Since Law 546 of 31 August 2026, on the first sale of a brand-new home (within 2 years of the occupancy permit) the first B/.120,000 is exempt; between B/.120,000 and 200,000 the excess pays a 0.50 % to 1.80 % scale, and above B/.200,000 the excess pays the general rate.
• The buyer usually also pays the appraisal, legal and notary costs, Public Registry registration and, depending on the bank, a closing fee and a monthly handling fee. Each bank publishes its amounts in its fee schedule (this bank's are below).
• General information, not insurance advice: banks require borrower life insurance and fire insurance on the home, assigned to the loan. You can use the bank's group policy or, if the bank allows it, assign your own. We do not recommend insurers; compare and ask for the terms in writing.

Work out the payment for a specific property: every listing for sale has a calculator → · Compare all 10 banks

Sources: Caja de Ahorros – Tarifario (préstamos hipotecarios) (act. y vigente 2 ene 2026) · Caja de Ahorros – Hipoteca para extranjeros no residentes (27 oct 2026) · Gaceta Oficial 30264-A – Ley 468 de 2025 (interés preferencial) (24 abr 2025) · Asamblea Nacional – En vigencia Ley de Interés Preferencial (28 abr 2025) · DGI – Instructivo Formulario 106 (ITBI, incl. Ley 546 de 2026) (v4 2026) · DGI – Formulario 106, transferencia de bienes inmuebles (27 oct 2026)

Where it says "ask the bank", the bank does not publish that information. Rates and requirements change: confirm them with the bank before deciding. TuHogar en Panamá is not a bank, insurance broker or financial adviser.

International transfers checked on 27 Oct 2026

Receiving money from abroad

SWIFT/BIC code

CAHRPAPA (verified on the official website)

US intermediary bank

• Citibank N.A. (111 Wall Street, New York) · SWIFT CITIUS33 · ABA 021000089
• JPMorgan Chase Bank N.A. (270 Park Avenue, New York) · SWIFT CHASUS33 · ABA 021000021

What to give the sender

US intermediary bank with Caja de Ahorros' account there, beneficiary bank Caja de Ahorros (SWIFT CAHRPAPA) and, as final beneficiary, your name and account number.Bank address: Vía España, Calle Thays de Pons, Panamá.

Fee to receive

$35.00 flat fee regardless of the amount, plus ITBMS tax.

Sending money abroad

How

Online banking/app or a branch.

Published fee

Online/app: $57.50 up to $10,000; $70.00 from $10,000.01 to $50,000; $80.00 from $50,000.01 to $120,000; over $120,000.01: 0.0625 % (max. $500). Branch: $72.50 / $90.00 / $100.00 for the same bands; over $120,000.01: 0.0625 % (max. $600). Plus ITBMS tax.

Limits

Incoming transfers over $5,000.01 must be validated with the branch that holds the account. Maximum limit: ask the bank.

Timing

About 72 hours for the funds to reach the beneficiary, depending on time differences between countries and whether the instruction was sent correctly.

Documents required

Be a client and keep to your declared transaction profile; the bank may ask for more information depending on your profile.

Currencies

Accounts in Panama are in US dollars (USD). If someone sends you euros or another currency, it gets converted either by the sending bank or by the Panamanian bank, at its own exchange rate. Ask beforehand which one will do it.

Ask the bank (not published on its website)

Fee schedule: updated 1 Jan 2023, in force since 1 Nov 2022. Fees change: confirm them with the bank before transferring. Intermediary banks and the sending bank may charge separately.

Sources (checked on 27 Oct 2026): Caja de Ahorros – Transferencias internacionales · Caja de Ahorros – Tarifario

ACH, international (SWIFT) transfers and Wise: the differences →