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CENTRAL AMERICA
Advantages of the Panamanian private interest foundation for the offshore investor
Quijano & Associates, Panama
by Randall S. Webster
The private interest foundation ("PIF") was created in the Republic of Panama by Law No. 25 of June 12, 1995, which is the main specific legislation governing said legal entities. In a mere decade it has become a favorite vehicle for investments due to its simplicity and flexibility. Although the law of Family and Mixed Foundations of the Principality of Liechtenstein was taken into consideration at the time of drafting the bill, the Panamanian legal entity was given certain unique features that made it more attractive. In addition to this, its establishment and annual maintenance charges amount to considerably less than the Liechtenstein counterpart. Undoubtedly, the Republic of Panama’s long-standing tradition as a haven for investors played a key role in establishing the Panamanian PIF among the investment capital community, and in turn, it has reinforced Panama’s preeminent position as a leading global offshore center for the 21st century.
[FULL STORY]
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