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Panama Offshore Foundation Requirements
Personal Information: Complete the application
form and the contract that we are sending by email to you
with your personal information. Indicate what type of entity(s)
you want: Indicate whether you want a new Offshore Panama
Foundation or a Panama shelf Foundation. If you choose to
purchase a shelf Foundation, then simply indicate that you
want a shelf Foundation. Please indicate how many Foundations
you want of each type.
Selecting the Name(s): On the application,
you should indicate three name choices for each Offshore Panama
Foundation. Panama Private Interest Foundations names can
be in any language and must include the word "Foundation"
within the name (in any language) in Spanish spelling: Fundación.
In English spelling: Foundation. For example, names for Panama
Foundations could be: "Phillips Foundation", "Ocean
Valley Foundation", "International Lands Foundation",
or "Latinoamerican Child Protection Foundation".
We will check to see if the names you selected are available
in the Panamanian Public Registry. We can have this done within
a few hours. The first available name selections will be incorporated
as soon as we have received payment.
Foundation Council (Directors): On the order
form, you should indicate who you want to appoint as council
members (directors) of your Foundation(s). The council members
can be either individuals or entities. If the council members
are individuals, the law requires 3 council members (President,
Secretary and Treasurer). If the council members are entities,
the law only requires one council member. If our client is
appointed as council member on the Offshore Panama Foundation,
then his/her name is publicly known as council member since
the council members names and identifications must be presented
in the public registry when the Offshore Panama Foundation
is formed. The only documentation on public record is the
Foundation Charter (or articles) of incorporation and the
names and addresses of the council members and Registered
Agent.
We offer our clients the optional service of using our "Nominee
Council" for their Panama Private Interest Foundation(s).
For purposes of confidentiality, most of our clients prefer
that we provide a nominee council for their Offshore Panama
Foundations. There is no additional fee for the use of our
nominee council. When we appoint a nominee council for the
entities that we establish for our clients, we always provide
our clients with pre-signed, undated letters of resignation
from the directors so that our client can replace the council/directors
at any time. If the clients prefer to appoint their own council,
they simply complete our online application with the names
of the council members that they wish to use (they also must
send us a photocopy of their council members passports).
Beneficiaries: The Beneficiaries of the
Panama Offshore Foundation need not to be known by us when
registering the Foundation. When you receive the Offshore
Foundation documents, you will appoint the Protector, by signing
the Private Protectorate Document. The Protector will need
to write a Letter of Wishes, indicating who the beneficiaries
of the Foundation are.
Payment: The payment can be made by Western
Union or banking transference. After submitting the email
application, you will be contacted by our service staff and
will be provided with payment instructions.
Time Frame: A new Panama Offshore Foundation
can be established within 3 to 5 business days. Shelf foundations
are also available if you need a Foundation immediately. Simply
notify us on the online order form if you prefer a shelf name
and we will provide one for you. Panama Shelf Foundations
are the same, except that they have already been incorporated
and are ready to engage in business immediately if you are
in a rush to do something very quickly.
Panama Legal Consultants
- Panama Law Firm -
For more information please contact us:
info@panamalegalconsultants.com
Tel: (507) 6714-9326
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