Best Safety Boxes: New Safe Deposit Facility
Finally, a non bank safety deposit box facility for Panama City!
It seems someone has spotted an opportunity after the recent news that various Panamanian banks, including HSBC and Banvivienda, are ceasing to offer safe deposit box facilities to their clients. A new operation named ‘Best Safety Boxes’ is due to open its doors (and safes) shortly in the Plaza Credicorp Bank Panama Building on Calle 50.
Clients have been asking us for years for a non-bank operated safe deposit facility in Panama. Since this is not a bank, you will not be required to open a bank account in order to use this safe deposit box facility. The privacy and confidentiality advantages to this are substantial. Also, in the event of a systemic collapse leading to temporary closure of all banks (a so called ‘bank holiday’) one hopes that Best Safety Boxes would not be affected.
What could you do with your safe deposit box? You could store gold bullion, the bearer share certificates for your Panama Corporation, or just plain cash that you wish to keep outside the banking system.
We are not sure when Best Safety Boxes are due to open, but if you drive by the Plaza Credicorp Bank Panama building you can already see the signage indicating its imminent opening, so we hope it won’t be long. We will keep you informed.
In the meantime remember that Do Business in Panama is your go-to source for Paama Offshore Legal Services such as Corporations, Foundations and Bank Introductions. Please feel free to contact us with any questions.
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Tags: banvivienda, best safety boxes, credicorp, credicorp bank building, hsbc panama, panama banking, Panama corporation, panama gold bullion, panama ibc, panama offshore le, panama offshore legal services, private interest foundation, safe deposit panama
August 26th, 2009 at 2:59 am
[...] feel free to contact us with any questions. Related posts: … Go here to read the rest: Do Business in Panama » Blog Archive » Best Safety Boxes: New Safe … Share and [...]
August 31st, 2009 at 5:17 pm
[...] safe deposit facility opening soon in Calle 50. I wrote an article on my blog about it last week: Best Safety Boxes: New Panama Safe Deposit Facility Finally, a non bank safety deposit box facility for Panama City! __________________ Scott, [...]
September 26th, 2009 at 1:43 am
[...] accounts – you don’t have to tell the tax man about them. Our contact in Panama reports a new safe deposit facility opening there, for example. Others, for example in Austria and in the Caribbean, are identified and [...]
October 12th, 2009 at 3:16 pm
[...] Unfortunately, buying gold in Panama is much harder. Banks selling gold are few and far between (though see the recommendations in Peter’s report) But there is a bit of good news… a new private, non-bank safe deposit facility is opening in Panama City, named “Best Safety Boxes” which is opening in the Credicorp Bank building in Panama City. Further details on Best Safety Boxes may be found here: Do Business in Panama – Best Safety Boxes article. [...]
November 8th, 2009 at 4:02 am
[...] For those needing a storage option in the Americas, Panama might not be a bad place, according to our friend Ammi at Do Business in Panama. [...]