|Corporation + Foundation|
We structure the protection of your services and goods or assets. We provide the structure of a corporation absorbed by a private interest foundation.
Essentially, instead the corporation being owned by bearer shares, it is owned by a foundation. The Panamanian foundation is a much more powerful asset protection vehicle due to the following reasons:
1. A Panamanian foundation legally has no owner.
2. A Panamanian foundation is a respected entity (more than a Panamanian bearer share corporation). Just imagine entering into a contract with third parties, and they ask who owns the corporation. It sounds more respectable and is more reassuring to the third parties to listen “the corporation is owned by XYZ Foundation” than some anonymous bearer shares. This matters more than you can imagine especially if you intend to use the corporation outside Panama, where bearer shares corporations are not the norm.
3. In a lawsuit, a judge can never order you to get money out of a foundation because legally nobody can own a foundation and, thus it would be an illegal order.
4. A foundation can own boats, cars, houses, property, yachts, etc.
5. Money can be moved from the corporation account into the foundation account. The level of the foundation gives you an advantage against attack when someone is behind their assets because the company is visible. In order for this approach to be effective, the corporation and the offshore foundation should be established and operate.
To understand the entire role of the Private interest Foundation within this structure, first you have to understand the organization of the Private Interest Foundation. The Private Interest Foundation has four main parts:
• Founder: The founder is the person or entity that constitutes the Private Interest Foundation in the public registry. Our firm generally provides a nominee founder, and provides you with a pre-signed, undated letter of resignation from the founder immediately upon incorporation of the foundation. Then, the founder holds no control.
• Foundation Council: The foundation council serves the same function to the Private Interest Foundation as the board of directors does to a corporation. The council's names and passport numbers are registered in the public registry when the foundation is incorporated. For protecting the privacy of our clients, we generally provide a nominee council, and provide pre-signed, undated letters of resignation from the nominee council. At that point, the council holds no control.
• Protector: The Protector is the ultimate controller of the Foundation. Immediately upon incorporation of the foundation, the council appoints a Protector, through a Private Document. Since the document is private, it is not publicly registered nowhere, the Protector remains 100% anonymous. From that moment, the Protector has full control over the foundation and all its assets.
• Beneficiaries: The Beneficiaries are appointed through a Private Wish Letter, which is written by the Protector. The wish letter is a private document, so the beneficiaries remain 100% anonymous. The wish letter can be changed or modified at any time by the Protector only.
Generally, a corporation operates all Business transactions as a person, but all property and assets are in the name of a private interest foundation. This is possible through the shares certificate where instead of being to the bearer is in the name of a private interest foundation. As you know, this shares certificate is not publicly registered, thus given the anonymity to the owner of the company.
This offshore corporation + offshore foundation structure is 100% anonymous.