The Panama Private Interest Foundation
The Panama Private Interest Foundation is an almost identical copy of the famous Liechtenstein Anstalt, the traditional wealth protection vehicle used by Europe's wealthiest families. It is almost unique and (unlike IBC's) similar legislation does not exist in other offshore centres. The difference of course is that the Panamanian foundation can be set up at much lower cost than the Liechtenstein equivalent - and since you are buying the paper shell you could still hold the actual assets in a Swiss or Liechtenstein bank if you wished - in the name of the Panama foundation.
This is the First Class, all inclusive solution for moving existing assets such as stocks, bonds, shares and even real estate into a new, secure and anonymous offshore home, well hidden from Big Brother's avaricious view - whilst maintaining instant access via a credit card account.
- Panama Private Interest Foundation.
- Offshore International Business Company owned by the foundation for trading activities.
- Banking facilities (including internet banking) ready to be created in your chosen name.
- Offshore discount dealing account.
- Secured MasterCard in the foundation's name - valid world-wide.
- No bank references required - set up totally anonymously. Notarized passport copy required by bank.
- Total cost includes two Panama structures, internet banking (Europe,) credit card, ATM card and account just Eur 4,999.
Upgrade to a Liechtenstein account for an extra Eur 14,999.
Order reference: PT Foundation.
The procedure to set up a Private Interest Foundation (Panama) is simple: On receipt of deposit, we send the client an application for the foundation by email/fax/post/or courier, they fill it out, fax it back,then send us the original signed copy along with a photocopy of their passport
The purpose of the foundation is two fold. First, it provides the means for you to send and receive funds from your corporate account legally, and still not be liable for the tax on funds you receive. It is perfectly legal to donate funds to a foundation, just as you can donate funds to the Swiss Red Cross, or any other foundation around the world. It is also perfectly legal to receive a donation from a foreign foundation, just as the Swiss Red Cross may donate funds to anyone it chooses. It is also perfectly legal to receive a loan from a Panamanian corporation which is owned by the foundation. There are many legal ways you can repatriate the funds from your offshore corporate account without being held tax liable. We even have an offshore MasterCard which you can use at ATM's and merchants around the globe. The card is a corporate card and your personal information is never revealed when using the card.
The second reason we use the foundation is for the purpose of ownership of the corporation (IBC). If our client owns the IBC, the client is then legally required to report the assets held within the IBC and pay taxes on those assets. If the foundation owns the IBC, it is not required to pay taxes on the assets held within the IBC. The client controls the foundation which controls the IBC. The foundation does not have an owner, only a Founder, a Council, a Protector, and beneficiaries which are listed in either a letter of wishes or a Testamentary Trust (Which can be established for this purpose). The founder creates a letter of wishes which will serve as the instructional guide to specify beneficiaries of the foundations assets upon the demise of the client.
Recent tax laws enacted in several countries require that tax payers report any assets held in trusts (domestic or foreign trusts, regardless of the type, whether it is a grantor trust, pure trust, etc.). This is why we use the foundation. The foundation is a legal way around not reporting the assets held in the corporation, which is owned by the foundation.