• Not subject to any form of taxation, tax or charge in the Republic of Panama (except for payment of an annual fee of $ 350.00 in the first year, $ 400.00 in subsequent years). Consequently, they are exempt from income tax, the estate tax, property tax, inheritance tax and sales tax.

• The Foundations Act requires all members of the Foundation Council, the Protectors, supervisory bodies or any person or institution by the reason of their duties to be aware that information concerning the activities, operations or transactions of a private foundation has to be maintained strictly confidential, even after its dissolution. Otherwise, this may result in imprisonment of up to six months and a fine of up to US $ 50,000, subject to the corresponding liability.

• The Act does not require that the names of the Founders, Beneficiaries or Protectors should be revealed.

• No need to file annual tax returns or financial reports.

• The law does not require that an annual meeting of the Foundation Council, the Founders, Protectors or supervisory bodies is held. Establishment procedures are expedited and administrative procedures are simple. Prices and incorporation and maintenance fees are reasonable and there are no restrictions on the maximum allowable assets.

• There is no limitation as to the perpetuities, the accumulation of capital or other restrictions exerted on other persons or legal entities from other countries.

• The Foundation may conduct any civil or commercial transaction, anywhere in the world and in any currency.

• Founding Member of the Foundation Council, Beneficiaries and Protectors can be natural or legal persons of any nationality, residing in any country. Founders do not need to be members of the Foundation Council.

• Founders, Protectors, and Members of the Foundation Council may be Beneficiaries of the Foundation.

• No restrictions on the maximum number of Founders, Foundation Council Members, Beneficiaries or Protectors.

• The Founders and Members of the Foundation Council may hold meetings anywhere in the world and may be represented in them by proxy.

• The books of the Foundation and accounting books (if any) may be kept in Panama or abroad.

• Foundations from other jurisdictions may change their address to become Panama Foundations, or vice versa, following a simple procedure of re-domiciliation.

• The US dollar circulates freely as legal tender in Panama and there are strict rules on banking secrecy.

• Panama is currently considered a strong and stable democracy, which enjoys political and economic stability, excellent media and connectivity worldwide, with major international airlines services and conveniently located near the largest markets in Latin America.