Using foundations in Panama is the best way to maintain secrecy and privacy. If you use a foundation to hide your corporation and assets, it is as close to a guarantee of asset protection that you will get. Here are some key pluses to creating a foundation:
· They only take a couple of business days to create. The same goes for corporations. You can, hypothetically, have a corporation and a foundation that protects it within a week.
· There is no owner to the foundation. This means you cannot be linked to the corporation the foundation owns, in fact nobody can.
· You will not appear in any public records or registries related to the foundation. This is due to you not being either the founder, government-supplied, or beneficiary, also can be supplied by Panama, of this foundation.
· The people you have in charge of the foundation, known as protectors, have no motives that do not align with your own. They will follow your orders word by word.
Of course, only a couple of the many benefits to using a foundation have been listed above. There are many more intricate details which makes this venture such a good idea for anyone looking to keep their assets private. The following list will describe some of the many ways you can put your foundation to good use:
- A foundation in Panama can own multiple corporations. This means that you can create a bearer share corporation that owns all your assets, such as real estate, stocks and so forth, and immediately transfer ownership to this foundation. The foundation will then act in your interests in buying or selling more assets. Remember that these foundations have no real owners, they are almost like mirages that you manipulate. This means that there is no chance a corrupt foundation owner will run away with your goods.
- Any assets that a foundation owns are not subject to be frozen by the law of Panama. What does this mean? Many times in court cases where one party is found guilty, his or her assets are all frozen so he or she cannot use them to skip town. This also makes it hard, however, for parties who are not planning on skipping town to pay for legal fees and other personal expenses. If your assets are owned by a foundation in Panama, you never have to worry about having your money and other assets taken away from you when you need them the most. The only way a foundation will be forced to give up goods is if it, as a separate entity, somehow committed the crime itself.
- If you somehow find yourself in a situation where your assets may be in danger, think about maybe a divorce proceeding where your former spouse gets half of everything, you can institute another person to watch over and be in charge of your assets until everything is clear. This means that they will act as if they themselves are in ownership of the assets until you provide them with a sign or a signal that indicates you are no longer in danger of losing your assets. This is very valuable to have when enemies are lurking.
- As mentioned before, Panama foundations do not have any sort of leader. This means that your name will not listed anywhere in a public database, no one’s will. You can be completely anonymous while proving that you are not in ownership of assets.
- If you were to die, lets all hope you do not, your money invested in the foundation would not go to waste. Just like owning a will, you could leave specific instructions to who the money will go to. Want it all to go to your wife as long as she stays single? That is fine. Oldest child? Also fine. As long as you tell the protectors of the foundation who is to be next in line, and next after that, they will see to it that your possessions get passed on throughout the generations.
- You can use the foundation to collect money earned from doing business normally with no problem. They will receive the money through a secure wire and then send it to your personal account in Panama.
- If you would like, you can have the foundation give you a contract to work for them in a certain position. This will allow you to dictate how your money is spent and used within the company from a formal position that would look anything but suspicious in the eyes of outsiders. If anyone does ask, you can just show them the legal documents you signed to work for the foundation. How can you both work for and own these assets?
- You do not need a license for business using a foundation.
- As with corporations, taxes are fixed at three-hundred dollars a year as long as you do business outside of Panama. Total fees, in fact, are just under seven-hundred a year.
- You can use the foundation as a will, as mentioned above, and keep it to keep bickering between siblings in the future.
- If you would like the foundation to donate money to certain funds after you die, you can leave instructions to do so as well.
- Foundations can own accounts at local banks that run tax-free.
- You can sell your assets to a foundation for cash. They will sell the asset themselves to pay you your money!
As you can see, there are many reasons to own a foundation. Not only do they allow you the most secure way of keeping assets protected in Panama, they also offer several key benefits.