Complete Panama Offshore Structure

Complete Panama Offshore Structure

The complete Panama offshore structure that we generally recommend to our clients is a dual entity structure consisting of a Panama Private Interest Foundation holding ownership of a Panama International Business Corporation.

We recommend the dual entity structure because it provides the utmost in asset protection, anonymity, privacy, and convenience. The Panama corporation holds all major assets, such as commercial businesses, real estate, intellectual property, etc. and the Panama private interest foundation acts as a holding company to the Panama corporation, receiving profits into the Panama bank accounts and Panama brokerage accounts of the Panama foundation.

To understand the entire role of the Panama private interest foundation within this structure, you first have to understand the composition of the private interest foundation. The private interest foundation has four main members:

Founder: The founder is the person or entity that forms the private interest foundation in the public registry of Panama. Unless you wish to be appointed as the publicly registered founder, our firm generally provides a nominee founder, and provides you with a pre-signed, undated letter of resignation from the founder immediately upon incorporation of the foundation.

Foundation Council: The council serves the same function to the private interest foundation as directors do to a corporation. The council's names and passport numbers are registered in the public registry when the foundation is incorporated. Unless you wish to be appointed on the publicly registered council, we generally provide a nominee council, and provide pre-signed, undated letters of resignation from the nominee council.

Protector: The Protector is the ultimate controller of the Panama foundation. Immediately upon incorporation of the foundation, the council appoints a Protector, through a notarized Private Protectorate Document. Since the document is a private, not publicly registered document, the Protector remains 100% anonymous. From that point on, the Protector has full control over the foundation and all of its assets. The Protector generally signs and controls all offshore bank accounts that are in the name of the Panama Foundation.

Beneficiaries: The Beneficiaries are appointed through a Private Letter of Wishes, which is written by the Protector. The letter of wishes is a private document, so the beneficiaries remain 100% anonymous. The letter of wishes can be changed or modified at any time by the Protector only. The letter of wishes is essentially the same as a living will of the Panama Foundation, which generally explains who the beneficiaries are, what the assets include, and how the assets are to be distributed to the beneficiaries and upon what triggering event (such as the death or incapacity of the Protector).

The Panama Private Interest Foundation is established to serve five primary purposes:

1. Provides you with Anonymity by serving as a holding entity for your offshore Panama Corporation: Using the Private Interest Foundation, you can avoid the use of corporation bearer shares and/or corporations shares that are issued to your personal name. The Private interest Foundation can be named as the share holder on the share certificates of one or more offshore corporations. You control the foundation anonymously through a Private Protectorate role. As Protector, you appoint the beneficiaries through a private letter of wishes (or a more formal set of foundation By-Laws). Since both the Protector and the Beneficiaries are both appointed through non-public (private) documents, they remain 100% anonymous and confidential.

2. Serves as an asset protection vehicle to protect your assets to the fullest extent of the law: Under the Panamanian foundation law, the Panama Foundations assets are "non-embargable", and "non-sequesterable", meaning that no one may freeze the assets, or place liens on the assets under any circumstances, which makes the Panama Foundation the ultimate offshore asset protection vehicle.

3. Serves as beneficial owner to your offshore corporation when opening offshore bank accounts: Today, due to the global scare of terrorism, etc. most offshore tax haven jurisdictions have implemented laws that require their banks to obtain "declarations of beneficial ownership" when establishing corporate offshore bank accounts. Keep in mind that in most offshore jurisdictions, such as Panama, the banks are required to maintain this information under strict confidentiality under the bank secrecy laws that are strictly enforced. However, if you do not wish to declare yourself personally as the beneficial owner when applying for your corporate offshore bank accounts, the foundation can serve as the beneficial owner / shareholder for the corporation.

4. Serve as a testamentary vehicle for distribution of your assets to your heirs: The Panama Private Interest Foundation is specifically designed to cherish, protect, and distribute your assets to your beneficiaries upon a triggering event, such as your death or incapacity. Your Panama foundations letter of wishes, written by the Protector, will serve as its "living will", detailing the foundations assets, list of beneficiaries, and how and when those assets are to be distributed to the beneficiaries. Under Panama laws, through the Panama Private Interest Foundation your heirs can receive their inheritance free of probate, gift taxes, estate taxes, inheritance taxes, or legal delays.

5. Serve as a vehicle to facilitate the transference of funds offshore: The Private Interest Foundation may receive private donations, and it may give donations/grants, etc. to anyone you choose. Hence, you can privately donate your funds to the Panama Private interest Foundation. In turn, the Private Interest foundation can provide educational grants, charitable donations, etc. to anyone you choose. Please note, however, that the Panama Private Interest Foundation may not publicly solicit donations.

Our Complete Panama Offshore Structure Package, for only US$3,050 includes the following:

1. Panama Private Interest Foundation, complete with;

Original Private Interest Foundation Charter in Spanish, registered in the public registry.
Official English translation of the Private Interest Foundation Charter.
Nominee Foundation Council (optional) with pre-signed, undated letters of resignation, notarized.
Private Protectorate Document, notarized.
General Power of Attorney, with notary and apostil seal.
Foundation Letter of Wishes (draft sample provided for you to complete).
Corporate offshore brokerage account, with optional Debit Card, and Internet access.
Corporate Franchise Taxes Paid for first year.
2. Panama International Business Corporation, complete with;

Original Articles of Incorporation in Spanish, registered in the public registry.
Official English translation of the Articles of Incorporation.
Nominee Directors (optional) with pre-signed, undated letters of resignation, notarized.
First meeting of the board of directors, whereby the nominee subscribers renounce their rights to one share each, and 100% of the company shares are issued.
Company Share Certificate issued to the name of your foundation.
General Power of Attorney, with notary and apostil seal.
Corporate brokerage account, with optional Debit Card, and Internet access.
Corporate offshore brokerage account, with optional Debit Card, and Internet access.
Corporate Franchise Taxes paid for first year.
3. Panama Corporate Bank Account (in the name of either your Panama corporation or Panama Private Interest foundation):

Established through any of our correspondent banks in Panama, Andorra, Liechtenstein, Switzerland, Antigua, Belize, Latvia or St. Vincent.
Optional Offshore Debit cards are available.
Optional Secured Offshore Credit Cards are available.
Online offshore banking is available.
Multi currency offshore accounts are available.
4. General Manager Contract:

Contract between yourself and your corporation (or foundation), documenting your role as General Manager (not a director, just a manager). Enables you to receive a salary and/or commissions from offshore, and justifies your income. Justify yourself as signatory on the company (or foundation) accounts, as well as using the company debit card and/or checkbook for business expenses, travel, etc.

5. Mail Forwarding Service, includes:

Corporate Post Office (P.O.) Box in Panama to receive post mail for your Panama corporation & Panama foundation.
Physical address in Panama to receive courier packages for your Panama corporation & Panama foundation.
Forwarding service via post mail, courier, fax, or scanned email attachment.
6. Courier Included: Documents are shipped by 3 day courier service (FedEx, DHL, UPS, or TNT).

To summarize, for only US$3,050 you are receiving all of the following!

Panama Foundation (With First Year's Annual Corporate Franchise Taxes Paid)
Panama Corporation (With First Year's Annual Corporate Franchise Taxes Paid)
2 Corporate Offshore Brokerage Accounts
1 Corporate Offshore Bank Account
General Manager Agreement
Mail Forwarding Service
Delivery of Documents via 3 Day Courier Service
Offshore Pro Group