PANAMA OFFSHORE FOUNDATION COMPLIANCE

Uniquely Drafted for Compliance in Canada and now America

We have reviewed many Panama Offshore Foundation charters, and have never seen one in the past 10 years that was drafted to be compliant with Canadian or American law. The stock Panamanian charter is drafted for Civil Law use, and based on a European model, it does not pretend to address North American regulations on a line-by-line basis.

How Can You Tell If A Foundation Is Compliant?

There are a number of clues that should indicate if this Foundation will do you any good:

• The Foundation states it is Irrevocable, otherwise it can be argued that the Council or Protector can change the beneficiaries and name the person who paid for the Foundation (the Mandator).
• The Foundation specifically disallows the naming of any beneficiary in Canada or the USA at any time, so that it cannot be argued that the Mandator could have named himself.
• A bank will open an IBC account and accept the Foundation as the beneficial owner, instead of you. This is important.
• There is some evidence a local tax lawyer has written a favorable legal opinion on the reviewd structure.

If you wish to discuss the secure use of a Panama Offshore Foundation, please use our contact page in the menu above.