Bullet Proof Asset Protection
By Aurelia Masterson, www.panamalaw.org
If you have substantial assets and/or serious potential financial enemies the following asset protectionstrategy may be of value to you. It is not very complicated but it is highly effective.
Bullet Proof Asset Protection
- What is done is an anonymous Panama Bearer Share Corporation isformed. The owner/stockholder of the Corporation is an anonymous Panama Private InterestFoundation. The anonymous Corporation is not owned by you and you can say so, plus the PanamaFoundation really has no owner so you are not misrepresenting anything. Of course the Corporation can bank at one bank in Panama and the Foundation at another Panama bank, or they can both bank at thesame bank and use the banks online banking to transfer funds from one account to the other withoutever needing to send a wire or write a check. The Panama banking system has a Panama only ACHsystem allowing one to transfer money from one Panama Bank account to another even in a differentPanama Bank. This is all done without using the not private international wire system and since it isPanama Bank to Bank, it is all covered by the Panama Bank Secrecy Laws. Also for some asset protection strategies the foundation may not have a bank account at all. Additionally, the Foundation or Corporation may have a stock brokerage account, own real estate in any country, own cars, boats etc.You can donate assets to the Foundation, transfer assets to the Foundation for an annuity, etc. We haveformal contracts available on our price page for these arrangements. You could also work for theFoundation as an asset manager, investment manager, real estate manager, or any other relevant position by formal contract reducing your role to that of an employee only. The formal agreement couldspecify compensation, commissions, expenses, benefits etc. These formal agreements can be secret inthat they do not appear in any public registry or database. They could also be notarized, apostilled etc.yet still very much private.
Another Protective Layer
– The Panama Foundation could decide to not have a bank account justown the shares of the anonymous corporation. You are not the founder of the foundation, we supply thefounder. You can elect to not be a beneficiary of the foundation instead use relatives. Some countriesmay elect to treat a foundation as a trust, so in this case you would not be the beneficiary of thefoundation (some governments may view a foundation as a trust). So if you are not the founder of thefoundation, not the owner of the foundation and not a beneficiary of the foundation, along with not being the owner of the corporation does that leave you in a favorable position? Now we need to look at protection aspects of this scenario pertaining to you keeping the assetsmanaged correctly. Panama Foundations can have a position held by a person called a Protector. TheProtector does not really have true control over the foundation but this position has features that willenable restful sleep at night. The protector can not initiate a transaction on behalf of the foundation.The protector oversees the activities of the foundation to make sure they are consistent with the purposes of the foundation. The protector can approve or disapprove any transaction the foundation