Banking & Asset Protection Kit
Offshore Bank Account
Panama Asset Protection
Asset protection involves the use of structures such as foundations primarily not to reduce taxes but instead to securely place assets out of the reach of creditors.
The Panama private interest foundation is a legal entity that is not owned by anyone and has no shareholders but has a specific purpose to benefit a defined group of individuals, the beneficiaries.
A Panamanian foundation cannot engage in commercial activities, however it can own assets including shares of companies that do engage in business. This is a strategy that is highly recommended for clients looking for a higher level of privacy and asset security while carrying out business.
No reporting requirements or income tax
Foundations in Panama are not imposed with any reporting requirements or tax on foreign income. This is because Panama has a territorial tax system which only taxes income produced from business activities conducted within the country.
No capital requirements
Panamanian foundations do not require paid-in capital.
No bookkeeping requirements
A Panamanian foundation is not required to keep any accounting records.
To constitute a Foundation Council, Panamanian foundations require 3 individual foundation councilors or one entity. The councilors can be persons of any nationality and residents of any country. The names and addresses of the councilors must be presented in the Public Registry when the foundation is formed. We offer the use of our nominee councilors to clients (at no extra charge) which provides added privacy.
The protector and beneficiaries of a Panamanian foundation need not be publicly registered.
No council meetings required
Panamanian foundations are not required to hold annual general meetings of the Foundation Council.
Panamanian foundations must have a legal physical address. We provide a legal physical address for all our foundations at no extra charge.
Our fees for incorporating a Panamanian foundation are $1000 + $350 franchise tax. The annual renewal fees for the foundation are $1000 + $400 franchise tax.
Panamanian foundations that are formed via Pan Investments come complete with no hidden fees or extra costs.
To start the process of registering your Panamanian foundation, please fill in the form below and we will be in touch with you very soon. You can also get in touch with us via phone, email or fax.