Private Interest Foundations

Fundaciones de Interés Privado en Panamá: desde $1,950

Private Interest Foundations in Panama are legal entities specifically designed to protect the interests of their beneficiaries by a Regulation of the Foundation (Special draft of Foundation Deed, adapted to your specific needs). They are very popular with those wishing to ensure asset protection.

In López, Morales y Chiari offer Private Interest Foundations in Panama from US$ 1,950*.

*Please add government taxes to the price of the company: 7% ITBMS

Private Interest Foundations in Panama Package

Private Interest Foundations of Panama – Package Detail: US$1,950*.

Our package of Private Interest Foundations in Panama offers a solution for your needs, with the following features:

1. Preparation and presentation of the Foundation Charter in Spanish, registered in the Public Registry of Panama.
2. Personalized Regulation of the Foundation (Special draft of Foundation Deed, adapted to your specific needs).
3. Official English translation of the Founding Act (if it is requested).
4. Annual Franchise Tax for the first year.
5. Resident Agent of the first year
6. One hour of legal consultation in our office or by phone

*Please add government taxes to the price of the company: 7% ITBMS

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Additional options for Private Foundations in Panama

You can add the following options to your Private Interest Foundation in Panama basic package:

  1. Appointment of Nominee Foundation Council:
    Our firm appoints the members of the board of the foundation to protect your privacy.
    Value: US$ 400* annual
    Includes general power of the Foundation authenticated by Apostille
  2. Introduction to open bank account in a Panamanian bank:
    Assistance with opening a foundation bank account, subject to the requirements and conditions of the bank.Also available, at extra cost, assistance with opening a bank account in another jurisdiction of your choice.
    Value: US$ 750*
  3. Apostille – certification of the Foundation:
    An apostille is a special seal applied by an authority to certify that a document is a true copy of an original. Apostilles are available in countries which signed the Hague Convention Abolishing the Requirement of Legalization of Foreign Public Documents, popularly known as The Hague Convention, and Panama is a signatory to the agreement.

The Certification of the Foundation is issued by the Public Registry of Panama and is a summary of the foundation’s legal information.

The foundation can function perfectly well without this certification and without apostille authentication, but some institutions require this certification to perform certain procedures, such as opening bank accounts, so we recommend to request it along with your foundation.

Value of Authentication Apostille Service: US$ 100*
Value of Service Foundation Certificate: US$100*

*Please add government taxes to the price of the company: 7% ITBMS

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Characteristics of Private Foundations in Panama

For your information and convenience, we gathered additional detailed information on Private Foundations in Panama:

Private Interest Foundations in Panama are legal entities governed by law 25 of June 12, 1995. Are formed by a Founder by setting up an estate to meet specific objectives that are set forth in a document called Founding Act. To ensure the achievement of the purposes of the foundation, establishing a Foundation Council, which acts as a kind of board, and is designated in the Founding Act, the foundations do not have owners but beneficiaries: those people or organizations for whose benefit the foundation is created.

Foundations are created with an initial equity, which may be increased later. This heritage is independent from the personal assets of the founder and only operated for the benefit of the beneficiaries. It is worth noting that the founder of the foundation may also be a beneficiary of it.

The foundation can not engage regularly in activities for profit, but can own shares in a company or its dividends, which will distribute the benefit thereof to the beneficiaries as established by the charter . They can acquire real estate and personal property will be part of the assets of the foundation.

  • They are the most economical solution for the protection of a heritage place and tax planning.
  • Combine the advantages of corporations and trusts in a legal institution.
  • Private Interest Foundations are not sequesterable.
  • They provide a fiduciary structure for orderly transfer and disposition of assets.
  • Perpetuity: There is no limitation as to the duration of the Foundation.
  • Our group of lawyers will take over the formalities in the process of the foundation providing security and confidentiality in the process.
  • No limit on the number of participating founders or beneficiaries of the Foundation.
  • Beneficiaries of the foundation are not public domain.
  • Our services help the smooth running of the Foundation no matter where in the world is domiciled.
  • Not required to file tax returns or report income.
  • They will have our support López, Morales y Chiari – Abogados en Panama, who can serve as members of the Foundation if needed.

Advantages of Panama to the Investment:
Panama is a country mainly devoted to the service, which offers great advantages through its corporations to make their investments, protect wealth and commercial operation anywhere in the world

Due to its historical background, geographical location, infrastructure, logistics and services sector, Panama offers the following advantages:

  • Monetary system based on the U.S dollar
  • Freedom total for the purchase and sale of currencies
  • Presence of banks in the world, with high levels of government supervision and soundness for its account.
  • Advanced telecommunications infrastructure, with the latest technology
  • Excellent options maritime and air transport. Daily flights to the United States, South America and Europe
  • BBB investment grade, Fitch Ratings, from 2011
  • Exemption from income tax for commercial operations outside of Panama; on earnings or profits of corporations when they operate outside of Panama, and the interest earned on savings accounts and time deposits, even in Panamanian bank accounts
  • Legal certainty

Procedures and requirements for establishing a Private Interest Foundations in Panama

To create a Private Foundation, the following is required:

  • Complete the Service Request Form and the Declaration of Beneficiaries
  • Submit the following documents:
    1. Service application form duly completed and signed by the beneficiaries of the Foundation.
    2. Declaration of the beneficiaries or the liability release, duly completed and signed.
    3. Notarized copies of the main pages of the passport of the Beneficiaries of the Foundation.
    4. Two (2) bank references and two (2) trade references of the beneficiaries of the Foundation.
    5. Appointment of a name to the Foundation. We can suggest names if applicable.
    6. The appointment of the initial directors of the Foundation. We can provide management services, if necessary.
  • Payment for services.

Our firm: Experts in Offshore Solutions in Panama

Our firm: Experts in Offshore Solutions in Panama

With over 23 years of experience in offshore solutions in Panama and in the formation, registration and administration of private interest foundations in Panama, we have a specialized team to meet your needs with an excellent cost-benefit ratio for you.

Taking advantage of our experience and services related to the opening of Private Interest Foundations in Panama you can structure your operations to:

  • Minimize taxes.
  • Protect your assets.
  • Maintain your privacy.
  • Limit your responsibilities.

Our team is at your disposal to assist you in your needs. Contact us without compromise!

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