It is simpler to make a thorough study of this wonderful figure by reviewing the persons or internal bodies a Panama Private Interest Foundation comprises. Put in words differing from its definitions, a Private Foundation consists of the commitment of one or more “founders” to transmit assets (money, real estate, shares, bonds and others) that they have undertaken to contribute or donate (which never amount to less than the equivalent of USD10,000) which, together with other assets contributed by “third parties” may be managed by a “Foundation Council” overseen or not by “protectors” (known in the law as “supervisory bodies” for the benefit of the “beneficiaries”). Each participant in a Foundation is briefly explained below: The Founder One or more persons, whether natural persons or bodies corporate, Panamanian or foreign, may be Founders. Adopting what has become a common practice in Liechtenstein, Panama makes express reference to the Founders […]