The Panamanian Foundation offers some of the best benefits of both the trust structure and offshore corporation or IBC (international business company) rolled into one.
If you’ve been studying the offshore and asset protection arena for a little while, you might well have heard a lot of good things about the strong privacy benefits of the Panamanian Private Interest Foundation. As an asset protection and estate planning vehicle, it’s second to none.
Most of my consulting clients who choose this vehicle are seeking to create a legal structure that will reduce tax liabilities, protect their hard-earned assets from lawsuits or claims, and make sure that on death, their estates pass to their chosen beneficiaries without unnecessary legal disputes or fees.
The Panama foundation is based on the legendary Liechtenstein Foundation or Anstalt, the preferred wealth management choice of generations of continental Europeans. But it is not so well known or understood in the English speaking world. And these days, Panama offers better offshore secrecy and confidentiality than Liechtenstein.
You might well have Googled a few websites and read articles about Panama Foundations in rather confusing terms. Such articles are often written up either by internet marketers who have little idea about law, or by Panamanian lawyers who have little idea about Anglo-American common law and whose first language is not English.
But few people understand what kind of legal animal a Panama foundation really is. That’s probably a very good thing for those of us using them! The difficulty for many clients is of course deciding upon the best course of action or structure to use.
But I am about to let you in on the secret… my new report sets out to demystify the Panama Foundation, explain the concept in plain English, and explain the differences between a Foundation and a Trust of the Anglo-American variety.
Should you set up a Corporation… or a Foundation? Or both? You will find the answers in my latest report specifically about Foundations. It’s called “Panama Foundations: Use and Benefits Manual” and subtitled ‘Panama Foundations and Trusts Demystified.’
But what exactly is a Foundation?
A Panama Foundation combines some of the best parts of a trust, and the best parts of an IBC or Offshore Company into one legal entity. A Foundation is typically set up to passively hold assets like bank accounts, stocks and shares, and real estate.
The key thing is that, unlike corporations, Foundations do not have owners. They have beneficiaries instead (for example, your heirs). The interesting thing about this is that in most countries it legally sidesteps reporting requirements.
Even in the USA, there are ways you can structure a Panama Foundation to legally avoid IRS reporting requirements. Because US tax law doesn’t specifically recognize Foundations, it is quite flexible on this – you decide how to declare your Foundation. (This only applies to US taxpayers. Other nationalities have it much easier…)
In my report I also explain the ultimate asset protection strategy… by keeping the assets in another country on another continent, you are protected not just by strict Panamanian secrecy and asset protection laws, but by something even stronger… what somebody doesn’t know, they can’t tell. You can make sure that your Foundation are structured so there is absolutely no record held in Panama of what the assets are and where they are located.
This new report, free of charge to registered Q Wealth members covers five topics. You will learn:
- What is a Panama Foundation. What is the difference between a trust and a Foundation, and why is a Foundation often more secure and private than a trust?
- Panama Foundations for Estate and Inheritance Planning
- Panama Foundations as an Asset Protection tool
- Banking for Panama Foundations
- Taxation of Panama Foundations
As always, I’ve kept things simple. This report is written in plain English, designed to explain legal concepts in simple terms. It is not an in-depth legal textbook…. But it has been reviewed by both Panamanian and British lawyers.
This report on Panama Foundations could be yours free in the next five minutes or so. All I ask in return is that, if you’ve not already done so, you sign up as a full member of The Q Wealth Report. You will be granted instant access to the Members’ Only section where you will be able to download this report in pdf format. Of course, if you’re already a QWR member you’re ahead of the game – just log in as usual and you can download it right now in the special reports section.
Of course, this brand new report is only one of the many benefits you will receive as a Q Wealth member.
We’re not just about Panama – we’re focused on protecting and creating wealth internationally. We do all the hard work, costly research and due diligence for you – to take you from the overload of the information age directly to where you need to be. As a publishing company, not an offshore services provider, we deliver impartial advice from a global perspective – not biased advice from a Central American perspective, which is what you might well find elsewhere.
Need I say more?
As a member you’ll also have access, for example, to the Practical Offshore Banking Guide, the report on buying and holding Precious Metals offshore, a report on Due Diligence on High Yield Investment Programs, and much much more… including the free consultation benefit I mentioned above (for Premium Members!).
You’ll also receive every quarter our flagship publication, The Q Wealth Report.
All this, for less than a good lawyer would probably charge just for talking to you and giving you a fraction of this information. Starting at just $99 per year to be precise. And if you are not 100% satisfied, you can cancel your subscription at any time and request a full refund. No quibbles, no questions asked.
Offshore Banking Consultant and Joint Q Wealth Editor