Offshore Companies Vs. Offshore Foundations
When it comes to comparing the benefits of forming offshore companies versus offshore foundations, it is important to recognize that all organizations have their own specific needs. In general, setting up an offshore foundation offers an extra layer of privacy and protection while creating an offshore company is a simpler way to save money and protect your assets.
An Extra Layer of Protection
Legally a Panama offshore foundation does not have an owner. It is its own legal entity. Even though offshore corporations have the same legal status, they also have owners. This small difference can have a significant effect on how your organization operates.
One of the biggest advantages of creating an offshore foundation is that you can use it to start an offshore company. This creates a virtually impenetrable shield of protection.
Foundations Can Own Property
Offshore foundations in Panama can also own property such as land, boats, and cars. Offshore companies, however, do not have this right. You could potentially purchase these things on your own, but you would not have any privacy protection. The foundation offers all of the privacy protection that you could need.
Offshore Foundations Offer More Legal Protections
Many people choose to establish offshore foundations in Panama because they offer stronger legal protection than offshore companies. For instance, since the offshore foundation does not have an owner, judges cannot order you to remove money from it. If you have a corporation, though, then judges can potentially order the individual owners to make payments through their shares of the corporation.