General Information
It is a legal
entity wherein a person, denominated as Founder, transfers or
donates goods and assets to a Foundation (which is a juridical
person subject to rights and duties) the purpose being asset protection
and administration in benefit of a beneficiary, who may be the
founder or a third party.
Many compare foundations to corporations and trusts. Different
to these other legal entities, the private foundation does not
have shareholders or partners, benefits and individual or group
in general and does not require the transfer of goods to a third
party, but the person may constitute its own private foundation.
In Panama, Private Interest Foundations are regulated by Law 25
of June 12 1995 and are ruled also by the Foundation Charter.
