Are you looking to set up an Offshore or Onshore foundation to hold your assets, protect them and help them grow?
We can set up your foundation in a number of jurisdictions, advise you on all of the procedures, including choosing an administrator, auditor, the best jurisdiction to register the foundation, and the structure to be used.
Depending on your desired level of involvement, efficiency, and anonymity, there are a wide range of foundations that can meet your needs.
A foundation is a registered legal structure that has no designated beneficiary or owner; it itself is the owner of its own shares.
The main purposes of an Offshore Foundation are:
- A foundation may hold fixed or liquid assets;
- A foundation may own planes, boats and works of art;
- A foundation may own shares and equity in commercial companies;
- A foundation may have a humanitarian, philanthropic, religious, educational or scientific purpose.
A foundation offers a highly flexibility management structure, and a number of significant advantages in managing and facilitating your affairs.
The statutes, or by-laws, of a foundation set out its mode of operation. They are fully customizable, and can be used to define a very broad or narrow purpose for the foundation, as well as its expected life span. This makes a foundation one of the most flexible structures available. Assets may be used in accordance with the rules established by the foundation itself, allowing them to be used for all types of expenses and investments so long as these fall within the foundation’s by-laws. A foundation’s by-laws may also be amended as desired.
Most countries allow foundations to be set up; in fact, you have likely already considered various possibilities and may have questions as to the most appropriate jurisdiction to use. Many jurisdictions make it possible to set up a foundation in a simple and flexible environment. Panama, for example, has a law governing foundations inspired by the 1926 Lichtenstein law, updated in 2009, which allows two types of foundations.
A charitable foundation can pursue activities centered around a specific purpose and finance operations that are humanitarian, charitable, scientific, sports-related, cultural or ecological in nature. It may be set up to benefit the general public or be limited to benefiting a defined number of persons.
This is notably the case with Art Foundations, which can finance the acquisition of works of art, sponsor up-and-coming artists, and generate profits which are reinvested in the foundation’s growth and events.
A private foundation is initially established to serve the interests of private individuals. This type of foundation is often used by corporate foundations or family foundations for the purpose of holding the corporation or family’s assets and making them grow. A private family or corporate foundation may nonetheless have a charitable or non-profit purpose.