Introduction
Panamanian foundations act as autonomous legal entities and on registration acquire corporate status. Foundations, therefore, may perfectly serve the purpose of e.g. asset management and estate planning. The foundation council, the highest authoritative component of a Panamanian foundation, may be composed of individuals or corporate entities and does not need to be made up of Panamanian entities or residents.
Service
Panasuisse offers full support in the establishment and ongoing administration of foundations. This includes the drafting of the foundation charter, the registration of all required documents with the registry and the maintenance of organisational aspects of the foundation. The foundation charter and by–laws serve as the two most important documents and Panasuisse will ensure correct measures are taken and wording put in place for the foundation to meet the needs of each individual. We also provide professional members of the foundation council where requested.
Advantages
• Anonymity for beneficiaries
• Cost efficient
• Founders, beneficiaries and protectors may be individuals or corporations of any
nationality
• Exemption from taxation on income derived from outside the Republic of
Panama
• Foundations have no ownership and therefore assets held are legally
independent and cannot be held liable for any personal debts of the founder or
beneficiaries