Characteristics
Founder: Is the person that establishes
or subscribes the Foundation in the Panama Public Registry. In
almost every case a member of our company is the founder of the
foundation, this figure is known as the Nominee Founder and it
is very convenient for clients who don't want their identity to
be exposed in the Foundation Charter.
When we constitute the foundation, we will provide the General
Power of Administration, which allows the client to make use of
all the funds and goods of the foundation, exempting the nominee
founder and the nominee board from managing the aforementioned
funds. Therefore, the client is in complete control and still
protects its privacy.
Foundation Council: Our clients have the
option to choose two types of Foundation Councils:
a) Natural Persons: In order to do business,
the foundation shall have a minimum of three (3) persons, of any
nationality, to form the Foundation Council. The names and addresses
of the council members will appear in the Foundation Charter that
must be registered at the Panama Public Registry.
The client appoints three persons for the Foundation Council or,
if preferred, we may appoint members of the Nominee Council. We
offer this service in order to protect our clients` privacy.
b) A legal Person: A national or
foreign juridical person , be it a corporation in Panama or a
corporation from Hong Kong, can be the administrator of the Foundation.
The Founder could likewise participate in the Foundations management,
with all our mayority of the shares of the juridical person acting
as Council being issued in his favor (as registered or bearer
shares).
Protector: The client might choose
to appoint a protector, who will be appointed to ensure strict
compliance with the objectives and purpose of the Foundation,
as well as the interest of the beneficiaries.
The protector can be designated in two ways:
a. By the Foundation Council at the time of creation,
therefore it will appear in the Foundation Charter.
b. By means of a private document authenticated
by a notary; with this, the client holds complete control of the
foundation in a private manner.
Beneficiaries: These are the persons or
institutions receiving benefits from the foundation. In Panama
Foundations the Beneficiary can be the Founder. Is not required
to list the Foundations beneficiaries in the Foundation Charter
that is a legal document registered in the Public Registry, you
can listed in the " Regulations" (Private document that
is not registered):
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