PRIVATE INTEREST FOUNDATION
It is always a wise, healthy and smart choice for any business to protect their assets. There are different categories of assets that require protection:
Work of art
Boats / Yachts
Being able to eliminate problems and delays in transfers of succession and the agreements in difficult moments you can spend an owner, is an important asset protection and separation of these topic. A farm after the death of an owner, if not properly structured can lead to lengthy litigation at a very high cost, often leaving little of succession to the heirs. Moreover, legal and business risks of litigation brought by third parties, entanglement can often paralyze assets adequately protected. Litigation arising from the divorce process is another danger to the protected goods, as also of the neglected tax planning.
This is where the private foundation comes into play. This is similar to «trust» that is commonly used in the past to organize, protect assets and separate structure.
The Foundation is an extremely strong structure, created in Panama under its laws, which are internationally recognized.
The uses and benefits of a foundation are:
Separation of assets
Protect the legal aspects
Protection (divorce, death, commercial litigation)
Ease of use and structural advantages
Here, there is a structure, the Foundation, which is tailored for the owner and easy to use on a strong legal jurisdiction, absolute master control and protection.
Panama is the only legal advantage of the presence of legal structures that allow bearer shares.
Now, we have seen that Panama corporations are used worldwide for commercial purposes.
The Foundation also allows its owners to manage, consolidate, separate, organize, protect all assets or securities that need protection along with good management of an owner.
In the structure of the Foundation that follows is the Foundation with its three (3) major figures, one of which does not appear in the Public Registry and will not appear anywhere, allowing complete privacy and anonymity for the owner and beneficiary end of all assets held in the Holding.
Legislative Structure Panama
In the matrix below, there is a projection of the other two corporations in Panama to be used to protect and «Bomb Proof» the structure of the Foundation for the landlord or owner.
As noted above, the Foundation has three (3) major figures:
FOUNDER: The person who creates it. This figure appears in the Public Registry.
PROTECTOR: owns – Final beneficiary of all assets held by the Foundation. This figure does not appear in the Public Registry, however, there is a note in the Public Registry that a guard there.
FOUNDATION COUNCIL: A person who manages all the Statutes of the Foundation and all assets, all operations and all Foundation events.
This is both in this, as in the past. (Death, succession, inheritance). This figure appears in the Public Registry.
The Foundation is governed by its own statutes, tailored and managed by the Foundation Board. In both the present and past.
Where appropriate take action within the Foundation, the Foundation Council shall act in accordance with the provisions contained in the Articles.
Both the founder and foundation council appear in the Public Registry of Panama. The PROTECTOR does not.
The Protector own – Final beneficiary of the Foundation and all assets.
PMC recommends that the founder and foundation council have no connection with the case.
Ernesto Chong de León, Ernesto Emilio Chong Coronado