How to Build US Credit as a Foreigner from Panama

Panamanian founders launching US-based companies frequently encounter the "invisible-credit" problem when trying to secure business loans, software financing, or corporate credit cards without an established US credit history. In Panama, your creditworthiness is tracked locally by bureaus such as APC Intelidata (Asociación Panameña de Crédito, operating as APC Buró), but this local history does not automatically transfer to US credit bureaus like Equifax, Experian, or TransUnion. Establishing a robust US credit profile is an essential milestone for accessing capital and operating efficiently in the US market.

Why US credit matters

A US credit file changes what a US company can do. Without one, financing means cash collateral or a personal guarantee, corporate cards come with a deposit, and commercial leases ask for six months up front.

With one, the same company borrows at a normal rate. That is the whole difference, and it is why the sequence below is worth the months it takes.

No part of this is guaranteed. Credit decisions belong to lenders, and nobody — including us — can promise you a score or a limit.

The Amex Global Transfer route

American Express runs a programme — Global Transfer, sometimes called the Global Card Relationship — that lets an existing Amex cardholder apply for a US card using their established relationship with Amex rather than starting from nothing.

Your credit history does not transfer. This is the most common misunderstanding about the programme. What transfers is the relationship — Amex's own record of how you have handled your account with them. Your local bureau file, your repayment record with other lenders and your local credit score do not cross the border. Amex US underwrites you as a new customer who happens to be a known quantity to Amex.

That is still a considerable advantage over building a US file from zero. It is not the same as arriving with a credit history.

Four conditions apply, and all four must be met:

1. The card you already hold must be issued by American Express itself, not by a local bank operating under an American Express licence.
2. You must be the primary cardholder, not an additional or supplementary cardholder.
3. You must have held the card for at least three months.
4. The account must be open and in good standing when you apply.

Corporate cards are excluded separately from all four.

Condition one eliminates more applicants than the other three combined. In many markets American Express operates through Global Network Services, where a local bank licenses the Amex brand and issues its own cards under it. Those cards carry the Amex logo, but the account relationship belongs to the bank — so there is nothing to transfer. A local partnership is not an alternative route to eligibility; it is the thing that removes it.

How to check your own card: read the cardholder agreement, not the card. The agreement names the legal entity that issued it. If that name is a local bank, the card will not qualify. If it is an American Express entity, it may. If you cannot find the agreement, call the number on the back and ask which legal entity issued the card.

We maintain a country-by-country reference for this, including which markets are confirmed and which are not: Amex Global Transfer country eligibility [blocked]

Check before you rely on this: American Express sets these terms and can change them. Confirm current conditions with American Express directly.

The ITIN path

Obtaining an Individual Taxpayer Identification Number (ITIN) is a cornerstone for foreign founders establishing a financial footprint in the US. Follow this standard 5-step sequence:

1. Form W-7 Preparation: Complete IRS Form W-7 for ITIN application.
2. Entity Formation: Establish your US LLC or corporation, which provides the necessary business justification and documentation.
3. Certified Documentation: Obtain certified copies of your Panamanian passport and identity documents through authorized certifying acceptance agents or Panamanian notary services recognized by the IRS.
4. Tax Return Filing / Exception: Attach the W-7 to a federal tax return or qualify under an applicable tax treaty exception (such as reporting LLC information).
5. Submission and Issuance: Submit the complete packet to the IRS and receive your assigned ITIN, enabling you to open US bank accounts and apply for credit cards.

Nova Credit

Nova Credit is a cross-border credit bureau reporting service that allows immigrants and foreign nationals to translate their home country's credit history into a US-equivalent credit profile. As of current integration schedules, Nova Credit covers specific international bureaus across countries such as Australia, Brazil, Canada, India, Mexico, Nigeria, the UK, and others. Because Panama's APC Buró is not currently part of the standard Nova Credit consumer network, Panamanian founders should check Nova Credit's current country list for updates or rely on ITIN-based credit-building strategies.

Business credit: the faster lane

Building business credit offers a faster lane that separates your personal identity from corporate liabilities. By obtaining an Employer Identification Number (EIN) and a Dun & Bradstreet (D&B) D-U-N-S number, your US company can build its own credit score (such as the D&B Paydex score). By establishing trade lines with US vendors and suppliers who report timely payments to commercial credit bureaus, your company can achieve strong creditworthiness independent of personal history.

Recommended sequence

1. Form your US entity and obtain an EIN: Establish your legal structure and federal tax identifier.
2. Apply for an ITIN: Secure your individual tax identification number to facilitate personal financial applications.
3. Open a US business bank account: Use digital-friendly banking platforms (such as Mercury or Relay) that support foreign founders.
4. Establish trade credit and business cards: Secure secured business credit cards or vendor credit lines reporting to commercial bureaus.
5. Monitor and scale: Regularly review your business credit reports via D&B, Experian Business, and Equifax Business to track growth.

What Keystone Bridge does

We handle the US side for founders based outside the United States: entity formation, EIN, ITIN, US business banking access, and business credit.

The price of every stage is published on this site, so a first conversation is about whether we fit — not a pitch. If the answer is that you can do this yourself, we will tell you so. This guide is for informational purposes only and is not financial, tax, or legal advice. Consult a qualified adviser for your specific situation.