Summary of benefits

• Complete asset protection inexpensively: No founder, member of the council (nor any creditor of a member/founder) has any claim, ownership or right to the assets in the Panama Foundation. The assets in the foundation make up an estate that is independent from the founder or member. This provides asset protection equal to The Cook Islands or Lichtenstein, but much more cost effective.
• The Panama Foundation has multiple uses and purposes. It can hold corporations as well as any type of asset, including bonds, equities, bank accounts and real estate.
• Panama Foundation can be revoked, changed or amended.
• Liabilities are corporate liabilities and cannot be attached to council members.
• By law, the Panamanian Foundation is protected against forced heredity ruling, and the foundation itself protects against other foreign rules and laws.
• The foundation is able to open, own and operate bank accounts; as well as buy and sell real estate.
• In the foundation charter the founder can reserve for himself/herself or for other persons, the right to remove the members of the Foundation Council. The founder can also appoint or add new members.
• Anyone –including the members of the Foundation Council or supervisory bodies, as well as the public or private Panamanian employees with any knowledge of the activities, transactions or operations of the foundation–, who breaks confidentiality, shall be penalized with six (6) months imprisonment and a 50,000 USD fine.

The Panama Foundation, as defined in the Panama law in 1995, is now recognized not only by Panama, but also by the United States and other countries, as one of the most efficient asset protection tools. For example, the Panama Foundation is one of the very few foreign structures approved in the Cayman Islands. This jurisdiction allows the Panama Foundation to open accounts in its banks without any extra due diligence required. Being recognized around the world gives you access to a larger amount of foreign banks, currencies and investments.  It also means you can move quickly out of Panama if sued there. Moreover, the Panama Foundation does not require members or shareholders.  You only need a founder (you, the settlor), the Foundation Council (provided by you or by us), and a beneficiary.  You may act as both the founder and the beneficiary and may appoint any three people or any one company as the counsel.  It is usually this counsel that manages the assets if you become unable or unwilling to do so (should you find yourself in litigation or otherwise incapacitated).