Panama Private Interest Foundations

Panama Private Interest Foundations are not charitable organizations and do not solicit funds from
the public. Instead, they are virtually bulletproof entites used by the world's rich and famous to
protect their own assets.

Reasons for their popularity - The PIF (Private Internet Foundations) take the best aspects of a
trust, a company, and a will and merge them into a kind of triune shield for your financial
pleasure. At once more flexible and effective than trusts, the true owners are also kept secret.

From start to finish, the Panama Foundations can be fully completed in two to three days. This is
the same time frame for Panama Corporations, and both can be formed at the same time within
to give you the whole set-up of a Corporation owned by a Foundation.

If this is the case, then it cannot be traced back to you because Panama Private Interest
Foundations do not have any owners recorded in the government records. It is a dead end for any
financial enemies. It gets better. Panama Foundations can be the legal owner of a Panama
Anonymous Bearer Share Corporation. This cuts your legal ties to both entities, something that
many would find a quite favorable situation.

The only natural person that must be linked to this Foundation is a founder, which we provide.
You do not need to be a beneficiary of the foundation, though this is an option. You can remain as
a protector of the entity, which is not a public position and will not be in any kind of registry. This
is not seen in the same light as a beneficiary, but rather as a person who protects the interests of
a foundation. They aren't performing any financial actions, only overseeing them.

A highly detailed explanation follows. Many creative minds went into the legislation behind the
Panama Private Interest Foundation and it is not something that can be absorbed or appreciated
without study. But it is of interest to all interested in the leading tools of asset protection that
exist today.

The Condensed Version of Panama Foundation Benefits:

• Using a Panama Private Interest Foundation is a tried and true way to shelter
your assets including real estate, bank accounts, financial instruments,
securities, art, family heirlooms, corporations, cars, planes, boats, etc., from
existing or potential financial enemies. There is no limit to what a Panama
Foundation can own, and, to reiterate, the Foundations are anonymous. Thus, any
personal debt of the true owner (you) cannot affect the Foundation's assets.
There are no legal ties. This is an idea called "Stiftung," derived from the
Lichtenstein Foundation model
• The possessions of a Panama Private Interest Foundation cannot be sequestered or
affected by an embargo. What this means to you is that your assets cannot be frozen as a
preventive action before the end of a trial. According to our legal dictionary, the definition
of 'sequester' is: a legal writ authorizing a sheriff or commissioner to take into custody the
property of a defendant who is in contempt until the orders of a court are complied with, or
a deposit whereby a neutral depositary agrees to hold property in litigation and to restore
it to the party to whom it is adjudicated to belong to.

However, a Foundation entity would be exempt if it, and not any of its beneficiaries or
protectors or council members or even founder, broke the law. For example, if it violated a
real estate contract. Only then could an amount equal to the amount due by contract be
frozen if a judge were to order this and post a bond. If the actual Foundation did not
commit the offense, it follows that its assets are not at risk. So keep this in mind when
 performing actions in the name of the Foundation. You will sleep better at night.
Bienvenidos a Panama.

• There are ways that a Foundation can be instructed to eliminate its ownership of its
possessions if it were ever engaged in a lawsuit, bankruptcy, a serious crime such as
extortion or kidnapping, or if you were to ever be physically or mentally incapacitated. A
certain person would be in charge of managing these assets as the founder instructs. A
new person could be appointed as a provisional protector if you came under duress and
this person would be provided with highly specific instructions if you wish.

In this case you would legitimately no longer have the control over the assets and could
not be ordered to, for example, repatriate funds. When this duress goes away you would
be reinstated as Protector with the same power as before.
• If you were to say that you don't own a Panama Foundation, you would not be lying. Your
name would not be in any registry that records owners. But this Foundation could own a
corporation or its bearer shares that can be used to conduct business.
• Family members can be taken care of through these Foundations. You can write
instructions saying that after your death, the foundation income will go to the surviving
spouse until she remarries and then to the eldest child. By Panamanian law, this would be
enforceable. You can also shelter businesses, allowing for descendents or incapacitated
family members to be benefited by this corporation. It can make payments, distribute
income, pay for education, housing, etc.
• Pensions can be issued by the Foundation and it can participate as shareholder of public as
well as private companies, one that can collect royalties.
• A contract can be drawn up making you the investment manager or financial manager. All
Nominee Council members would sign this agreement as well as notarize and apostille it if
necessary. It would contain all terms of the agreement such as compensation, benefits,
travel expenses, a general expense account, use of a house owned by the Foundation, paid
medical expenses, etc.
• No business license required to have a Foundation or for it to operate around the world
• Total annual taxes, starting in year two, are $695
• A Foundation can also function as a last will and testament and to shelter against any kind
of dispute amongst heirs.
• The Foundation can be used for various purposes outside of the private interest sphere
such as philanthropic, educational, charitable, etc.
• The Foundation can have bank accounts, and Panama does not have any income tax at all
• Copyrights and trademarks can be attributed to Foundations and they can collect royalties.

Restrictions - There are various things that a Panama Private Interest Foundation cannot do
such as function as a corporation, though they can own corporations, invest in stocks, bonds,
collect interest on bank deposits. The most important condition is that the income earned is
appropriated for the Foundation in accordance with its purpose. For example, to support the
beneficiaries, which can be you.

People Involved in a Panama Private Interest Foundation - The principal people involved
are a Founder, Council Members, Protector, and Beneficiaries.

• Founder: This is the entity or person who forms the Foundation listed in Panama's Public
Registry. The founder we supply will not know you so that you can remain anonymous.
They will also not have any power over the Foundation's activities so that you stay
protected.

• Council: This is comparable to a board of directors and all members appear in the public
registry as council members. We will appoint all necessary Nominee Foundation Council
 Members and also provide the necessary nominee directors for corporations. As with the
founder, these council members will not know your identity and they do not have any
control of any of the Foundation's possessions or access the bank account since they are
not the signatories on the account. If they were to ever try to alter the signatories, the
current signatories on the account would be immediately alerted. The nominees would then
go to jail. Further, they will all give you an undated letter of resignation so that you can
choose to change them at your convenience. All nominees and Panama banks are aware of
these consequences.

Additionally, instead of having natural persons as the council members, each member can
instead be an anonymous bearer share corporation.

• Protector: The actual control belongs to the Protector. This person is chosen by the
Council when the Foundation is formed and the Protector then has the ability to remove or
change the nominee council members whenever they wish. No further steps are necessary.

A document called a Private Protectorate Document is drawn up and signed by the

nominee foundation council members. This keeps the Protector as a private position since
it is not a public document. Thus, you have total control and extreme privacy.

This position is not obligatory and you can use a nominee protector if for whatever reason
you do not want to be the Protector yourself. In the Foundation charter and regulations we
can say that nominee council members could step into the seat of power with written
consent from the Protector. Only with this document that grants them the power could
they act in the name of the Foundation. This applies to accessing bank accounts or
attempting to close them, entering into contracts, etc.

• Beneficiaries: By law, Panama Foundations do not any listed owners, but there are
beneficiaries selected by the Protector. Like the Protector, these are also kept out of
registries or databases and all nominations are private. Among the numerous benefits of
privacy is the protection against crimes against the beneficiaries like kidnapping, extortion,
frivolous litigation, etc. Of course, having additional beneficiaries is optional�the Protector
can remain the only beneficiary. If you would like, upon your death, the Foundation could
then add on beneficiaries, such as your children. The longevity of these Foundations is 120
years, and so it spans across multiple generations, all the while safeguarding against
infighting.

Letter of Instructions: The Protector writes this instructive letter that lays out precisely how he
or she would like the Foundation's possessions to be managed if certain events were to occur,
such as the incapacitation or death of the Protector. It clarifies if the Foundation will take on a
new Protector, if it will liquidate all its assets, etc. No template exists for this letter that confines
the format or contents of the letter, and the Letter of Instructions can always be altered whenever
the Protector would like it to be. This letter does not need to be filed anywhere so there is no risk
of the Beneficiaries or the Protector being revealed.

Foundation By-Laws: These are optional. Though a Letter of Instructions satisfies many
testamentary instructions and desires, it is less formal than by-laws which are written and signed
by our law firm and notarized by a notary. They are quite similar in that they both contain
instructions about what to do in certain events, when the Foundation should be dissolved and
when a new Protector should come into power.

The main difference is increased formality since the By-Laws must follow a legal precedent. But,
these can also be altered at any time according to the wishes of the protector. The option remains
open to hold these By-Laws privately or register them publicly, the former being the best option in
general.
Unique Foundation Features and Benefits:

• Anonymity: Both Panama Corporations and Foundation provide tight anonymity for the
Founder, Protector, and Beneficiaries.
• Arbitration: By law, conflicts may be resolved by arbitration and thus kept out of the
public records that litigation enters into it.
• Asset Protection: Any kind of civil case such as a divorce, lawsuit, etc., cannot lead to
the Foundation's assets being used to satisfy a debt. Creditors cannot get their hands on
Foundation assets, and fraudulent conveyance claims must be made within three years
after the event and within the Panamanian court system it will likely be years until this
claim is heard.
• Capital Requirements: For a Foundation to be active it must have at least $10,000.00 in
assets transferred to its possession. There is a time window in which you can do this. None
of its assets are recorded in a registry.
• Confidentiality: The registered agent (us), the council members, and anybody else who
would have access to your private information are bound by law to keep your identity
private. If secrecy was breeched, the offending party would face months in jail and fines up
to $50,000. This is ample incentive to not give away your information.
• Documents and Records: As we have seen before, almost nothing is ever filed on these
foundations. No tax returns or financial statements. These records do not need to be kept
in Panama. There is no supervision of the management and operation of the Foundation.
This is a breath of fresh air for those used to operating under the laws of various police
states around the world.
• Estate Planning Vehicle: The Panama Private Interest Foundations combine the best
aspects of wills and trusts and are a very good way to manage an estate, especially in
planning for inter vivos or mortis causa. It can manage the distribution of property and
other assets, and works quite well in thwarting infighting amongst heirs and circumventing
forced heirship.
• Foundation Council Meetings: Not required
• Founders: There can be one Founder or multiple Founders, all of which must be natural
persons from anywhere in the world. There are no restrictions on the transference of the
Founder from a nominee founder to the actual founder by means of a confidential
document. However, even with a nominee founder in place, the actual founder can still
control the Foundation's activities. This relationship should be established in the
Foundation's By-Laws or a Letter of Instruction.
• Preservation and Administration of Assets: The established Foundation Charter can
work to prevent infighting, property splitting, mortgaging or other financing of property,
and mange how donations to the Foundation will be handled. The Protector is the most
important
• Revocable: There are only a few cases in which the Foundation could be revoked:
o If revocation was called for by the Foundation Charter
o If you do not file a Foundation charter
• Tax Advantages: There are no taxes on the earnings of Foundations or on any other
earnings in Panama for that matter.

Other Foundation Technical Points

• These Foundations can be used to transfer assets to surviving family members after your
death and, in particular, to prevent a surviving spouse from continuing to benefit from the
foundation if he or she were to remarry. The beneficiary could then be changed to a child.
The regulations relating to "forced heirship" do not apply here.
• The Founder can revoke the Foundation. If a nominee Founder is in power, this person
could be instructed, by written instructions, to transfer the control to another person.
 • The Foundation can be inactive, and set to become active on a certain date, such as a
child's birthday, or a Founder's death.
• There is an additional document that can be created called "Regulations or Instructions"
that can contain specific information about names, percentages, and other relevant
information about the beneficiaries. This is a private document.
• Assets or domicile can be transferred to another country that is not Panama.

Fees- $1795.00 for a Panama Foundation with Bank Account

$3,300 for a Panama Corporation, Panama Foundation, and a Bank Account

Click here to order.

Click here to read Panama's Private Interest Foundation Law

http://www.panamaexpertos.com