4. Uses and Benefits of Private Interest Foundations

• Ability to open corporate bank accounts or investment accounts in the foundation's name, indicating that the foundation owns the corporation, in this manner the beneficiary of this account is not revealed.
• Perfect tool to protect and preserve family business and patrimony.
• Allows the ownership of any type of real estate or other assets.
• In some countries, high taxes are imposed on donations of assets or patrimony. Through a panamanian donation you will be able to transfer the foundation`s patrimony to a thrird party without paying taxes for this act.
• Confidentiality, since the Law requires persons working closely with the foundation to maintain secrecy of information obtained in reference to the foundation's activities, under penalty of criminal or monetary sanction. Your are not obliged to reveal neither the name of the protector ot the beneficiary of the Foundation.
• Assets of the foundation compose a patrimony separate from personal assets of the founder, therefore, his personal obligations are not backed by the foundation assets; these cannot be impound or confiscated, except for obligations acquired by the foundation itself.
• A commercial license is not required to operate inside or outside of Panama.