7. Costs and Additional Services

If you choose our services to incorporate a Private Interest Foundation the total cost for this process will be 950.00 US$, and it will include the following:

• Notarized copy of the Public Deed, whereby the Private Interest foundation is constituted, duly registered in the Panama Public Registry.
• Translation of Foundation Charter into English.
• Foundation Charter, duly authenticated by Apostille
• General Power of Attorney included in the Articles of Incorporation authorizing a specific person to act on behalf of the Foundation (if requested).
• Original Certificate of Incorporation issued by Panama Public Registry corroborating the existence of the foundation.
• Receipt of Annual franchise tax payment of US$250.00 in concept for the first year of incorporation.
  

Aditional Services

• General Power of Attorney: If your require the General Power of Attorney in a private document authenticated by a Notary Public of the Republic of Panama duly authenticated by apostille, this procedure will have an additional cost of US$100.00 The person whose name appears in the General Power of Attorney is capable of acting, signing contracts and so on, on behalf of the foundation

• Beneficiaries: If you do not wish the name of the beneficiary to figure in the Foundation Charter and you require a private document authenticated by a Notary Public of the Republic of Panama and duly authenticated by apostille, this procedure will have an additional cost of US$100.00.

• Protector: If you wish to appoint a protector for the foundation in a private document authenticated by a Notary Public of the Republic of Panama and duly authenticated by apostille, this procedure will have an additional cost of US$100.00.

• Nominee Board service: If for privacy reasons you want to preserve anonymity, our office provides services to appoint three (3) members of the Foundation Council required by law for an additional charge of US$300.00 per year.

One year of Incorporation

• After every completion of one year of its incorporation, the Foundation must pay the following:
• For the annual franchise payment or mandatory tax to continue operating, the foundation must pay the amount of US$300.00
• For our legal fees, the amount of U$150.00
• In case our company provides services of nominee foundation council there will be a charge for the amount of U$300.00.

Duration of Procedure

Once we confirm that the corresponding payment was received, we will proceed with your request and send you the documents by courier in six (6) labor days.