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Home » Areas of Practice » Incorporation of Offshore Companies

Panama Foundation is a legal person that may be created by one or more individuals or body corporate. For this purpose, the constitution of a patrimony exclusively for the objectives or endeavors expressly established in the organizational document is required. The foundation’s patrimony cannot be seized or attached. The rules of distribution of the assets; the name of the beneficiaries and other confidential information is kept in a private document in custody of the foundation’s administrators.

Foundation’s assets located outside Panama as well as its profits are tax exempt. The foundation patrimony is not affected by inheritance rules.

The foundation council is the supreme body in charge of the administration of Panama Foundations. Its function is similar to the board of directors in a corporation. We could also offer to our clients a nominee council that may serve as foundation council. As the nominee directors, the nominee council shall act under high standards of confidentiality and reliability.