The Panama private interest foundation has a number of important people at different levels. Let us have a look at the cast of characters in the Panama private interest foundation.

The foundation begins with a founder. This could be you or the person who files your papers with the public registry in order to register the foundation. It is the law firm who will register the foundation for you.

Then we have the Panama foundation council. Each foundation has a council and every member is recorded in the public registry. The council of members may or may not know the identity of the beneficiary. Every council member will give you a letter of resignation if he wants to resign. The council of members will not have any banking privileges and they have no control over the assets.

The Panama foundation protector is appointed by the council. The protector’s identity can be hidden from the public records. The protector controls the foundation after he is anonymously appointed by the council. The protector may then change the council. He writes a private set of instructions which are not mentioned in the public registry. The instructions define the objectives of the foundation.

There are no beneficiaries in a Panama foundation. This is because no one is said to own the foundation. It is actually a legal entity that operates so that the beneficiaries benefit. The beneficiary could be any entity including the protector. For example, you can appoint yourself as the beneficiary and protector at the same time. Each foundation should have a registered agent. This could be a single attorney or a law firm that to take charge of the legal proceedings and matters of the foundation.

One of the best ways to protect your assets in Panama is a private interest foundation. This is an institution that effectively holds and protects the entity of the assets. You need to get an overview of how the entity works and how you can set up one. You should consult a professional for all legal matters to maintain a Panama Foundation. It is better to deal with a person who understands your requirements and your language. Make sure that you understand each and every step of the process.

The cost of the private interest foundation is about $300 annually which has to be given to the government. The minimum capital investment required is $10,000 and the attorney cost set up is less than $2,000. These are just the typical costs involved. Part of this payment goes to the government and part to the attorney. In case you feel that the prices quoted to you are high then don’t be afraid to go on the internet and do the comparisons.

You can make use of the Panama foundation as a holding entity for your assets. However overseas assets are not taxed in Panama. The tax relates to those matters where the foundation owns a business in Panama. In such a case the foundation will not be taxed but the business will be taxed. The foundation will receive post tax dollars from business. You can consider joining a foundation with an offshore corporation which could be in Panama or elsewhere.

The foundation can hold assets anywhere in the world. This could includereal estate, companies, personal assets, royalty rights, bonds, stocks and bank accounts.  The assets can be frozen only in case the foundation does something illegal. The foundation should be ideally used as a holding company. the foundation cannot do any commercial activities in Panama.