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
|
For more information see our services below:
· International Business Companies (IBCs)
· U.S. Dollar Accounts
· Asset Protection
· Bahamas, Panama, Seychelles & other Foreign IBCs
· Trust and Trustee Services
· Belize and Panama Private Foundations
· Local Company (Chapter 250)
· Belize Dollar Accounts
· Mail Forwarding and Virtual Office Services
· Work Permit and Residency Services
· Nationality and Passport Services
· Qualified Retired Persons Program (QRP)
· Licensed Escrow Services
· Purchase Agreements
· Owner Financing Agreements
· Land Title Investigation
· Transfer of Title
Email: gomezisl@btl.net
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