One of the things that people are most interested in knowing is that whether it would be more advantageous to set-up a bearer share corporation or a foundation in Panama.

There are two choices in getting an account with the bank in Panama, to have it under a “bearer share corporation” or to have the bank account under a “corporation”. Basically the corporation will be under a foundation, and not under bearer shares. Clients often wonder why it is necessary to have a foundation owning a corporation as a means of protecting one’s assets. Establishing a foundation in Panama has many advantages.

First, a foundation, in a legal sense, is not owned by anyone.

Second, a foundation is more esteemed in Panama than other types of corporations. For instance, when engaging into transactions with other parties, it would be more highly regarded to say that the corporation is under the ABC Foundation than name a couple of bearer share owners. This is very important especially if the foundation will deal with parties not within Panama, where, more often than not, bearer shares are not commonly adopted.

Third, when there are lawsuits against the corporation, the court can not order to get the properties of the corporation because there is no legal owner in a corporation. The courts will never make orders contrary to what is allowed by the law.

Fourth, a foundation can acquire several properties such as yachts, vehicles, lands, jewelries and the like.

Fifth, the money in the corporation under a foundation can be placed in “secret” accounts, so attacks on the assets of the corporation will give a warning because only the foundation is evident. However, this set-up will only work if the corporation and foundation were started properly.

In engaging in a for-profit business, a corporation should be paired with a foundation because on its own, a foundation is not supposed to earn profit out of business.
The good thing though is that a foundation in Panama can obtain passive income through investments in real estate, stocks, and businesses, like a corporation. Although a foundation can not earn profit from business activities, there is a way to circumvent this limitation. To do this, the foundation should have the legal set-up that can enable it to have a corporation that can conduct for-profit activities. However, if you are only bent on guarding and advancing your present properties, it would not be necessary to start a corporation. What would be needed would just be to have a foundation and a bank account, which will cost around one thousand seven hundred ninety-five dollars. If you want a foundation, a corporation and two accounts, you will have to shell-out three thousand three hundred dollars, which is one thousand five hundred five dollar more than having a bearer share corporation and a bank account.

When you open a bank account in Panama banks, you will be dealing with reputable banks, with big assets that open accounts even with introductions alone. The services they offer are in the English and Spanish language. Online banking and sending through wire transfer are some of the services offered. Included for you is a debit card, accepted anywhere in the world, and which can also be used in automated teller machines in withdrawing cash. The card will not be traceable to you; it can be used to get money from the corporation’s account classified.