Asset Protection in a reliable offshore domicile is becoming increasingly difficult to achieve. Reporting pressures from major countries have lessened the advantages of British Virgin Island companies and other popular offshore vehicles. That is why you should consider a Panama asset protection package. Panama does not have tax treaties with any other countries and has enacted comprehensive legislation designed to keep your assets and information anonymous and secure.

The proven method for achieving your asset protection is to form a dual entity structure consisting of a Private Interest Foundation holding ownership of an International Business Corporation (IBC). We offer you a combination of a Panamanian Foundation and a Panamanian IBC hosted in Panama. Within this convenient structure, the IBC holds all major assets, such as commercial businesses and real estate. The foundation acts as a holding company to the IBC, hosting the IBC monies via the foundation’s corporate bank and brokerage accounts. The Foundation bank account is created so the Foundation is the beneficial owner of the account rather than you personally. instead, you are granted a Power of Attorney which does not legally equate to ownership or control.

Is the Panama Private Foundation structure right for you? For Canadians, this is the only vehicle in the offshore market that is drafted specifically for compliancy to Canadian regulations regarding owning an offshore IBC and maintaining exemption from the foreign reporting rules. If you are American or Western European, this is also be the most suitable offshore plan available to you. The same is true for residents of Colombia, Venezuela, Argentina, Chile and other Latin American countries.

As you can see, OBR has designed the Offshore Asset Protection Package to include maximum control and estate-planning options for you. With the drafting and additional features only we provide in your Foundation structure, it takes only one week to set up from the payment date when shelf names are selected.

To help you understand the entire role of the Panamanian Foundation, allow us to explain the composition of the Foundation itself.

Four Primary Purposes of a Foundation.

Serve as a testamentary vehicle for distribution of your assets to your heirs: Under Panamanian laws, the Foundation's assets are "non-embargable", and "non-sequesterable", meaning that no one may freeze the assets under any circumstances - providing the ultimate asset protection vehicle. 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 Foundation's letter of wishes, written by the Protector, will serve as its "living will", detailing the Foundation's assets, list of beneficiaries, and how and when those assets are to be distributed to the Beneficiaries. Since the inheritance is coming from outside of the Foundation's domestic country, the inherited assets are not subject to any of the standard taxes and legal procedures. Through the Foundation, your heirs will receive their inheritance free of probate, gift taxes, estate taxes, inheritance taxes, or legal delays.

Serve as a vehicle to facilitate the transference of funds offshore, and the repatriation of those funds back onshore: Since the Foundation is a charitable entity, it may receive and give donations. Therefore, you can donate your funds to the Foundation which, in turn, can provide educational grants, charitable donations and so on, to anyone you choose.

Panama Private Interest Foundation, complete with:

— Original Foundation Charter in Spanish, registered in the public registry of Panama.
— Official English translation of Foundation Charter.
— Nominee Foundation Council (optional) with pre-signed, undated letters of resignation, notarized.
— Private Protectorate Document, notarized.
— General Power of Attorney, notarized and apostille.
— Foundation Letter of Wishes (example).
— Corporate brokerage account, with optional debit card, and online Internet access.
— Corporate Franchise Taxes paid for first year.

Panama International Business Corporation, complete with:

— Original Articles of Incorporation in Spanish, registered in the public registry of Panama.
— 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 (or to the Bearer).
— General Power of Attorney, notarized and apostille.
— Corporate brokerage account, with optional debit card, and online Internet access.
— Corporate Franchise Taxes paid for first year.

Corporate Bank Account (in the name of either your corporation or foundation) with:

— Established through our correspondent banks in Panama, Antigua, Latvia, Cyprus, Belize, Antigua, St. Vincent.
— Optional debit cards are available.
— Optional secured credit cards are available.
— Online banking is available.
— Multi-currency accounts are available.
— Bank account for the Foundation at the additional cost of $450.

General Manager Agreement:

— Agreement 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.

Mail Forwarding Services, includes:

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

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