Panama Private Interest Foundation I

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PANAMA PRIVATE INTEREST IFOUNDATION

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PANAMA PRIVATE INTEREST FOUNDATION I

This is the first of a two part series about Panama Private Interest Foundations.

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Understanding each and every step is important. Know why you are doing so.



A Private Interest Foundation created in the country of Panama is one of the world's best means of asset protection




Parts one and two of this series contain and overview of how such an entity works and how to one is set up.




Readers should consult with competent authority to set up and maintain a Panama Foundation.




It doing so it is paramount to deal with or through someone who speaks your language.




PANAMA PRIVATE INTEREST FOUNDATION I

Part one deals with cost and general use of the foundation,.

Part two lists the various parts of a Panama Private Interest Foundation and the roles of the

various persons involved.




WHAT DOES A PANAMA PRIVATE INTEREST FOUNDATION COST?

*Minimal investment of capital = $10,000

*Cost of an attorney to set up = up to $2,000

*Yearly cost of attorney = up to 400

*Fees to government = $400 a year




These are typical costs as of this writing Be sure to consult competent authority for current facts and figures




Also do not be afraid to shop around. If you are dealing with a native speaker of your language it will make things easier.




Plan upon doing this right as a properly set up Panama Private Interest Foundation




is a very useful vehicle that will outlast your lifetime, that of your children, and perhaps of your grandchildren.




THE VARIOUS USES AND PURPOSES OF A PANAMA PRIVATE INTEREST

FOUNDATION

Think of a Panama foundation as a holding entity for privacy and protection of assets.




Assets offshore to Panama can be included in a Panama foundation but are not taxed in Panama.

Foundation assets are only taxed in Panama if they generate income in Panama such as with a company selling goods or services in the country.




But in such a case the business owned by the foundation is taxed and not the foundation itself.




The foundation could receive income after taxation from such a business.




Many use an offshore corporation formed and headquartered outside of Panama




as an asset of a Panama Private Interest Foundation with increased asset protection as the primary purpose.




A PANAMA PRIVATE INTEREST FOUNDATION CAN OWN

ASSETS ANYWHERE IN THE WORLD. SUCH ASSETS COULD INCLUDE BUT NOT BE LIMITED

TO:

Bank accounts

Property

Businesses




Patents

Airplanes

Boats




Cars

Royalty rights

Stocks

Bonds

Collectables




ASSET PROTECTION FEATURES OF A PANAMA PRIVATE INTEREST FOUNDATION

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STATUTE LIMITING PROSECUTION FOR FRAUDULENT CONVEYANCE

Individuals and companies may move assets into a Panama Private Interest Foundation for any and all personal and business purposes




However, it does happen that interests outside of Panama may dispute such transfers after the fact.




Panama law currently protects the founder and beneficiaries of a foundation in that there is




a three year statute of limitation on charges of fraudulently conveying assets into such a legal vehicle.




SEPARATE LEGAL ENTITIES

It is always possible that a business operating in Panama or elsewhere can get into legal trouble, criminal or civil




Standard advice when including a business in a Panama Foundation is to use the foundation as a holding company.




If legal issues arise they are dealt with by the company without affecting other aspects and assets of the foundation.




Here again it is wise to deal with someone fluent in your native tongue and with competent Panamanian legal authority.




PANAMA PRIVATE INTEREST FOUNDATIONS LAST A LONG TIME

A Panama private interest foundation can continue in existence to provide asset protection in Panama for 120 years.




SUMMARY

Individuals and companies looking for privacy and asset protection commonly use a Panama Private Interest Foundation.





One can use a foundation in Panama plus an offshore corporation instead of a trust or a will.




When considering how to protect your hard earned wealth consider a Panama Private Interest Foundation.




Read Panama Private Interest Foundation II for more about the various parts and persons involved.




For more insights and useful information about Panama Foundations and other aspects




of living offshore, making money offshore, preserving assets offshore, and more visit www.RobertGirga.com.


http://www.robertgirga.com/



Date post:	13-Jan-2015
Category:	News & Politics
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Panama Private Interest Foundation I

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