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Panama Private Interest Foundation Formation


Type of Entity: Private Interest Foundations (PPIF)
Type of law: Panama’s Foundations Law: Law 25, 1995
Incorporation time frame: 3-5 days
Minimum Government fees: US$300
Regular Corporate Income Tax: None (but should pay an annual corporate franchise tax of US$250 to remain in good standing)
Double Tax Treaty access: No
Minimum issued share capital : Usually US$10,000
Minimum paid up share capital on incorporation: None
Minimum number of Shareholders required: None
Record in the Public register: Yes
Minimum number of directors: Foundations do not have Directors, they have a Foundation Council, which is composed of 1 juridical person or 3 natural persons (President, Secretary and Treasurer)
Corporate directors permitted: Yes (Foundation Council is the governing body of the Foundation)
Local directors required: No
Local Registered office required: Yes
Auditor: No
Protector requirement: Optional
Disclosure of beneficial owner to Company Registrar: No
Disclosure of shareholders: No (Foundations do not have shareholders)
Government register of directors: No
Trading restriction: Foundation cannot be dedicated directly to commercial activities
Taxation: No
Tax residence to benefit from Tax Treaty network: No
Exchange Control: No
Financial statements: For registered foundations For non registered foundations No
Tax returns: No
Accounting: No

We do our best to monitor the compliance of this jurisdiction with the latest international regulations set by OECD and other international institutions and countries.

At any moment, Damalion may decline any customer demand about this jurisdiction, at its sole discretion and without any obligation to provide any reason.

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