The Protective Shield of The
Panama Private Interest Foundation
Instead, they are used in a variety of ways
to primarily protect the valuable assets of
individuals. Using some of the best features
of trusts as well as corporations and acting
to some extent as a will, a Panama Private
Interest Foundation very effectively
protects the assets of the Foundation.
Panama Private Interest Foundations, under
the Republic of Panama laws, have no owners.
The only persons associated with the
Foundation are the beneficiaries and the
protector of the Foundation whose names do
not have to be entered into any public
register, thereby giving them complete
privacy.
Another interesting feature of the Panama
Private Interest Foundations is that though
they cannot directly take part in commercial
activities, they could own corporations that
conduct business. If the corporation earns
income only from offshore sources, all the
income is tax-free. Further, since the
Republic of Panama allows bearer-share
corporations, the shareholders can be
anonymous and if the Corporation is held by
a Foundation that has no owner, this offers
protection of privacy at many levels.
Here is an overview of some of the other
benefits of the Panama Private Interest
Foundation.
One of the best features of the Panama
Private Interest Foundation is that the
entire set-up can be completed in just two
to three days.
If one is considering purchasing property
outside their home country, they should
certainly look into establishing a Panama
Private Interest Foundation for the same.
One can not only buy real estate but also
have bank accounts; invest in financial
instruments and art; own cars, planes,
corporations and shelter all these assets
using the Panama Private Interest
Foundation. No amount of personal debt of
the true owner can affect the assets of the
Foundation.
In many countries, the owner's assets can be
frozen as a preventive measure before a
trial is actually concluded and judgment
passed. However, the assets of a Panama
Private Interest Foundation are not affected
by an embargo nor can they be sequestered.
By using Panama Private Interest
Foundations, one can take care of family
members in the way they want or protect them
from others, for e.g. ex-spouses. One can
leave instructions stating whom the income
of the Foundation should benefit after the
owner's death. These would be legally
binding. In this way, assets including
corporations and real estate owned by the
Foundation will be protected and used for
the benefit of family members or descendants
of the owner.
Finally, there is no requirement for the
Panama Private Interest Foundation to hold
any annual meetings, there can be no forced
heirs and the transfer of any assets from
the owner to the Foundation can be brought
into effect in complete privacy. |
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