Advantages
Private Interest Foundations are constituted for the following purposes:
Asset Protection: Assets registered in the name of a Private Interest Foundation are protected in regards to the identity of its owners, given the fact that this entity guarantees confidentiality by law and reserves the name of its beneficiaries.
A Panamanian’s Foundation assets cannot be garnished or seized. They cannot be seized, except due to obligations acquired by the Foundation.
Asset Planning: Private Interest Foundations are an excellent vehicle for the planning and management of assets.
When you constitute assets different from the personal assets of the foundation’s beneficiaries, the foundations assets are not subject to the compliance of obligations acquired directly by them, this said, it allows control over the risks of the aforementioned assets.
As a testamentary vehicle: The private document undersigned by the Guardian works as a Will without the need of being subject to probate proceedings.
Tax Reduction for offshore activities: Private Interest Foundations do not pay taxes for income generated by an outside source. They can be used as a medium to facilitate the transfer of offshore funds.
The Foundation is an entity that is allowed to make commercial transactions; transfer any type of assets without the need of justification on any level of authority.
What are the rates for creating my own Private Interest Foundation?