ASSET PROTECTION STRUCTURE

Many persons around the world think of Asset Protection as illegal, immoral o even as a cheating device to not pay your debts, but Asset Protection, when properly practiced and structured, is certainly legal. Legitimate Asset Protection planning does not encourage or permits illegal acts such as fraudulent concealment of assets, perjury or violation of bankruptcy laws. You must implement your Asset Protection structure and plan, in compliance with every law.

At OIS will help you achieve all your goals regarding protecting your assets, by utilizing offshore companies and offshore private foundations. Now, we must point out that the same asset protection structure does not necessarily apply to every case, so that is why we work on a case by case basis and we also encourage you to speak to attorneys in your locations because what does not affect one may affect another, so it is recommended and highly advisable to first speak to an asset protection attorney in the place where you reside in order to be completely sure that what you are about to do is in compliance with the Laws.

The Asset Protection we propose is a combination of either a Panama Corporation or a Nevis LLC or IBC:

Why a Panama Corporation?. Because of the flexibility of the corporation law and the interesting features it offers in regards to asset protection: assets transferred to the company become a separate estate from that of the transferor; allows bearer shares; identity of the beneficial owner is not recorded on public records and our judicial system deters any creditor from suing in Panama, plus anyone looking to file a lien must first post a bond.

Why a Nevis LLC or IBC?. Nevis is one of the best jurisdictions in regards to asset protection as it offers strict confidentiality of beneficial ownership; bearer shares are permitted; a plaintiff bringing suit most post a $25,000 bond and the statute of limitations for civil suits is one year.

Why a Panama Private Foundation?. Private Interest Foundations may be used as tax and estate planning device, but they can also be used for holding shares of companies, charity, etc. and they offer basically the same advantages as offshore corporations in the sense that assets transferred to the foundation become a separate estate from that of the transferor; they offer privacy as the name of the real founder does not have to be recorded in public records and of course, our judicial system deters anyone to come to Panama and file suit against the foundation; a plaintiff bringing suit and that needs to attach or seize assets may do so but after posting a bond and if the assets is not localized in Panama the judge cannot give out a ruling as it does not have jurisdiction. Furthermore, three years after you have transferred the assets to the PPF, the creditor or plaintiff lose any and all rights they might have had to overturn the transfer of assets.

How do you control this structure?

You will control this structure as the PPF can appoint you as “Protector” by means of a private document. This position will enable you to oversee the management of all affairs of the PPF, open bank accounts, dispose of all the assets of the PPF, remove and appoint beneficiaries, among others, but most importantly, all of this can be done privately and confidentially.

A Power of Attorney to operate the PPF and/or the Corporations can be issued to whoever the Protector or Founder designates and it does not need to be recorded.

What information will be of public knowledge?

The only information that needs to be furnished for public records is that pertaining to the directors of the Panamanian Corporation, the Founder and the member (s) of the Foundation Council, which can be composed of either three physical persons or one juridical person (company) as a minimum.  No beneficiaries need to be recorded.

Who can be appointed as Beneficiary of the PPF?

Any physical person or company can be appointed as beneficiary of the PPF.
If it suits your purpose, you can be appointed as Beneficiary of the PPF to enjoy the PPF assets during your lifetime.

Who can compose the Foundation Council of the PPF?

The Council Members of the PPF must be at least three (3) if physical persons or one if a corporate entity, meaning that a Corporation, a law firm, trust company, bank or asset management company, may serve in place of three (3) individual council members. Nominee individual Council Members may be furnished by OIS upon request.

What are the advantages of this structure?

What is the cost of this structure?

Please contact us, as all the cases vary, we will provide a quotation for the services based on your case.