PANAMA PRIVATE FOUNDATION

PURPOSE/USE:

  • As a Will to distribute assets to your heirs with minimal taxes and costs
  • To guarantee the subsistence of your family by ensuring funds for education and health purposes
  • As a substitute for marriage articles or pre-nuptial agreements
  • As a holding company to own real estate, personal properties and shares and stocks in companies
  • As an investment tool to manage bank and brokerage accounts
  • For the conservation and continuity of the family business

ADVANTAGES:

  • Exempted from all forms of taxation (except Panamanian annual franchisee tax)
  • Privacy & Confidentiality - Foundation’s assets, protector, beneficiaries and principal (settlor) remains private
  • Not required to file income returns, financial reports or annual meetings
  • Accounting books can be kept in any country
  • No limitations on the amount of assets allocated to the foundation
  • Can carry out civil and commercial transactions in any currency worldwide
  • Ensures that assets are guarded from adverse situations such as forced heirs, future claims by creditors and political or economical instability in the country where the client resides

REQUIREMENTS:

  • Name of Foundation
  • Full name and address of Beneficiaries (You can also be included as a beneficiary)
  • Copy of the passport of all beneficiaries, council members and protectors
  • Minimum assets of US $10,000 to be included in the list of assets (other assets can be included later)
  • List of Assets and how they should be distributed to beneficiaries
  • Additional assets must be transferred into the name of the foundation
  • Administrative & Foundation Council (We can provide this)
  • Protector and Substitute Protector (Optional)
  • Resident Agent (to be provided)
  • Founder (to be provided)

COST:

The cost for setting up a foundation is US $1,000. for ISL Processing Fees plus US $1,453.00 for constitution fees and impression seal for a total of US $2,453.00, which includes Certificate of Registration, Foundation Charter, Regulation, Registered Agent’s Fee and Panamanian Franchise Tax for the first year.

Any additional time other than incidentals above and change of standard documents and additional special clauses will be charged at US $75. per hour plus administrative fee.

Annual Fees

Registered Agent Fee & Franchisee Tax US $1,000.00
   
Inactive Foundation Council US $   500.00
   
Total Annual Fees            US $1,500.00

Optional

Annual Maintenance & Administration Fee
plus administrative expenses related to
the administration of foundation
(Active Foundation Council)
US $1,250.00
   
Annual Fee for Protector Services US $   500.00

 

Back to Offshore Services

 

 

 

QUICK LINKS: Welcome | Offshore Services | Retirement Services | Investment Services | About Belize | About Our Firm | Contact Us

Copyright © 2008 International Services Limited. Designed by Idealabstudios.com