Offshore Foundations Vs. Trusts
Offshore foundations and offshore trusts both offer advantages over organizations formed within a person’s home country. For instance, Panama gives offshore foundations and trusts a significant amount of privacy and protections that home countries do not offer. Before choosing which type of organization is best for you, though, you will need to learn a bit about offshore foundations and offshore trusts. You should also speak with an expert that can help you compare the advantages of an offshore foundation vs. trust.
Offshore Foundation Versus Trust: Organizational Differences
Offshore foundations are unique organizations that are their own legal entities. Technically, they do not have owners. This makes Panama offshore foundations useful for individuals who want to distance themselves from their offshore accounts and businesses. Instead of owning these assets, the individual assigns them to an offshore foundation that owns them.
Offshore trusts require a bit more involvement. For example, a trustee and beneficiaries must be named. The trustee, however, can also be a beneficiary. Panama’s laws still offer greater privacy protection than home countries, but offshore trusts still require more involvement and oversight than offshore foundations.
Choosing an Offshore Foundation Vs. Trust
Individuals and groups that would like to take advantage of the benefits offered by offshore foundations and trusts should contact the experts at Delvalle and Delvalle Attorneys at Law. Delvalle and Delvalle focuses on offshore services, so the lawyers there can provide information that is specific to your circumstances. The type of offshore organization that benefits you most can depend on a variety of factors, so you always need to consult a professional before making a final decision.