 |
 |
 |
|
|
|
|
|
Why Choose Panama Legal as your Law Firm?
Panama Corporation - Order Now With Same Day Service Naming Your Panama CorporationGuatemala Bank AccountGuatemala CorporationOffshore CompanyPanama Virtual Office for Panama Bank DepositsOffshore Asset Protection - Additional Bank LayeringGuatemala Bank AccountPanama Virtual Office for Panama Bank DepositsOffshore Asset Protection - Additional Bank LayeringOffshore Asset Protection - Additional Bank LayeringCanada Document CertificationGuide to Offshore Anonymous Debit Cards (Visa, MasterCard and American Express)Guatemala Bank AccountAnonymous BankingPanama Virtual Office for Panama Bank DepositsPanama National Bank or Banco Nacional de PanamaSecure Encrypted Communications with Panama Legal Law FirmGuide to Offshore Anonymous Debit Cards (Visa, MasterCard and American Express)Panama Virtual Office for Panama Bank DepositsLos Faros de Panama Under ConstructionPanama Real Estate Purchaser Legal RepresentationPanama Real Estate Owned by a Panama CorporationPanama Real Estate Agents ComplaintsPanama Real Estate Purchaser Legal RepresentationPanama Real Estate Law 45 – Article 77Panama New Immigration Law Update: 02/27/08Second Passport Scams and FraudPanama Tourist Visa Extensions EliminatedUSA Exit Tax for Expatriates, Close Call, What Next?Panama Restores the 20 Year Property Tax ExemptionMore Panama New Construction Condo ComplaintsBusiness Opportunities in PanamaPanama Truck Investment OpportunitiesBearer BondsOffshore CompanyNew Law to Further Increase Panama Real Estate MarketGuatemala Fast Track Citizenship/Passport ProgramGuatemala Bank Failures and RiskGuatemala Fast Track Citizenship/Passport ProgramGuatemala Bank Failures and RiskGuide to Anonymous Offshore Bank Accounts
Online Virtual Gold and Currency ServicesRegister Your Panama Corporation or Panama Foundation OnlineUSA Exit Tax for Expatriates, Close Call, What Next?Online Virtual Gold and Currency ServicesEU Tax Driven Crackdown On Bank SecrecyTranslate this page into...
Spanish
French
Italian
German
Portuguese
Dutch
Russian
Japanese
Korean
Chinese
Introduction – People are often asking our law firm, Panama Legal, which is the best for them to incorporate into their asset protection structure. Read below for the answers.
Trusts – Rather than get into all the different flavors of a trust we will generalize what they really are. A trust is basically an agreement in writing as to how assets are going to be managed. We know there are irrevocable trusts, land trusts, spendthrift trusts, revocable trusts and other types of trusts. They are all just written agreements.
Trust Cast of Characters – There is generally a person called the settler who is the individual that created the trust itself. The Trustee is the individual that is referred to as the individual who is legally empowered to manage the assets of the trust. Trusts will also have a beneficiary or beneficiaries. The trust is created to further the wealth and well being of the beneficiaries. In some jurisdictions these can be the same or different people. In some countries these offices may be filled by unnatural persons such as corporations or foundations. Laws tend to be different from country to country but this is the general overview of the cast of characters.
Trust Deficiency – The trust is not a judicial person like a Panama Foundation or Panama Corporation. A judicial person has its own debts and assets which are legally treated as being separate and distinct. Foundation assets are legally treated as separate from the debts and assets of the foundation protector, foundation council members and foundation beneficiaries. This is a big legal difference that should not be overlooked.
Panama Foundation Asset Protection Features – In Panama a foundation has special protections under the laws of Panama. Foundations are anonymous in that the names or identities of the foundation protector and beneficiaries do not appear in any database or government registry. Of course our law firm supplies the foundation founder for the client preserving the privacy of the client. The Panama government does not even know who the foundation protector and beneficiaries are. Foundation assets are almost impossible to freeze. Foundations are tax free. Foundations can own corporations, real estate in Panama or anywhere else in the world, art, gold, stocks and bonds, boats, planes, cars, make loans and have bank accounts with checking accounts, ATM cards and Visa cards along with online banking. Doesn’t sound like a trust does it? A Panama Foundation by definition has no owner and no share certificates so by definition you can not be the owner of a Panama Foundation and of course the corporation can be the 100% owner of a Panama Anonymous Bearer Share Corporation. The foundation protector who is not an owner of the foundation controls the foundation. The foundation protector can be an unnatural person like a corporation or another foundation formed in Panama or elsewhere. A trust can not be the protector of a foundation since a trust is not a judicial person.
Summary – A Panama Foundation offers all the benefits of a trust and then some. It is a combination of a trust, will, and corporation yet more feature laden than anyone of these. The rich use trusts and the super rich use foundations.
 |
||||||
|
Call Us Free with Skype:
