Panamanian Foundation Council
As we have pointed out before, a Panamanian Foundation may be as simple or as complex as necessary. One of the reasons for this flexibility is the Foundation Council, which is unique to Panama. Thanks to this council you can maximize asset protection and, should you come under duress, separate yourself from the structure and the assets.
- You may manage the Panamanian Foundation for yourself until or unless you have an issue (for example, if you find yourself targeted by a creditor).
- You may choose to retain a professional trust company or lawyer to act as your
trustee/protector. This person would be appointed by your Foundation Council and will act under your direction.
- We provide your Foundation Council at no additional charge, and you may then add an investment manager or lawyer as you see fit. Alternatively, you can manage your Panamanian Foundation and then seek professional assistance only if you come under duress, or if litigation becomes likely. Of course, you can also provide the Foundation Council yourself.
- Your Panamanian Foundation Council may consist of three or more people or one legal entity (a corporation or LLC). These people or this company may be from any country, that is they don´t necessarily have to be Panamanians.
To sum up, if you want to create an advanced structure, we can provide a Panamanian attorney or an offshore LLC to act as the Foundation Council. You can use a limited liability company from Belize, for example, to maximize privacy and diversify assets, and even to plant flags in multiple jurisdictions. Thus you will be taking the best features from each structure, to combine them into a worldwide asset protection plan.
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