Panama Offshore Private Foundations, also known as Panama Private Interest Foundations or PPIFs, are similar to offshore corporations and offshore trusts. There are, however, some differences that you should know about before deciding to set up your own Panama Offshore Private Foundation.
Explaining the Panama Private Foundation
A Panamanian Private Interest Foundation consists of a natural or legal person called the Founder, which it transfers or assigns assets of its property in order for the latter, in turn, to administer and protect the same in favor of certain beneficiaries designed by the Founder.
A Private Interest Foundation may not within its purposes, carry out a profitable commercial activity, only ocasional, in an accidental manner as long as the economic produt of such activity is applied to the purposes of the foundation.
The Advantages of Creating a Panama Offshore Foundation
– Tranfering patrimony in a secure an easy manner.
– Assets given to a Foundation are its property exclusively.
– Assets given to a Foundation can not be attached or seized.
Creating a Panama Offshore Private Foundation
Creating a Panama offshore private foundation makes sense for many individuals or companies that;
– Needs a secure way to transfer assets to future generations.
– Needs a holding entitiy to hold shares from other companies.
– Needs to hold and protect property in any part of the world.
– Needs a bank account to receive dividens.