Thread: Introduction & Banvivienda Bank

Hello out there, I am planning to do Banking with Banvivienda Bank for my Real Estae deals and Financial Pacific Panama for my Stock trading requirements. Do you have any experiences dealing with these two companies. They were highly recommended by couple of Law Frims I am using for my business transactions.
I appreciate your replies.

Hi hawaii and welcome to Panama Forum!

I started with Banvivienda. They're OK, but difficult to find an English-speaking person, and they charge for monthly statements. (Not much, but I want only online, and they wouldn't let me opt out of paper.) I switched to (and prefer) Multibank.

I find most Panama brokers really charge alot for commissions. If you are any kind of trader at all let alone a day trader you would lose money for sure. The only way to make money is to be a buy and hold investor, and considering how unstable the markets are these days, I would not recommend that approach.

Just that Panama Stock brokers are crazy expensive, for some people it would be cheaper to pay taxes in the usa and use a broker that offers free commissions there, than try to not pay taxes in Panama and use some of there more expensive brokers... Even if you traded only 4 times a year most of your gains would be wiped out with some of the more expensive brokers....

If you have a bad year in the west you pay no tax and can use the loss as a write off for a future tax year that you gain in the markets...,

But in Panama if you have a bad year or the markets decline you have the loss plus the high commsions still.

Any idea what the best rates for Financial Pacific Panama are these days Hawaii?

Here is a list of all brokers in Panama I made a year ago here...

http://www.panamaforum.com/panama-ba...ms-panama.html (Stock Brokerage Firms In Panama)