Corporations & Private Interest Foundations
Our firm offers vast experience and knowledge regarding estate planning and corporate law, including the incorporation and annual maintenance of companies and other types of entities in accordance with the necessities of each client and business enterprise investment.
Our lawyers will offer you legal and tax assistance in the corporate structuring of your corporation, issuance of general or special powers of attorney, as well as the performance of the formalities to execute a Shareholders Meeting and Directors Meetings, granting of powers, increases of the corporate authorized capital stock, amendments to the Corporate Charter, and any other act needed by the corporation.
Thanks to our web of foreign correspondents our office offers legal entities from many jurisdictions besides Panama, of which we mainly deal with but not limited to:
- Delaware
- Wyoming
- South Dakota
- British Virgin Island (BVI)
- Bahamas
- Seychelles
- Grand Cayman
- Singapur
- Hong Kong
- Nevis
Robles & Robles also helps on the incorporation and maintenance of a client’s Private Interest Foundation. Our mission is to assist in the structuring of a plan for the adequate estate planning and administration of our client’s personal estate, which shall be elaborated in full coordination with the client, in order to satisfy his planned purposes and needs during the life and/or after the death of the client.
The Private Interest Foundation is an administrative tool to manage and protect a client’s personal estate, which satisfies the same purposes as a Trust, but with a more flexible, effective and less economic operation cost than a Trust.
Some of the most important features of foundations are:
- Separation of the Foundation´s estate from that kept under the Founder´s name, and hence from the founder´s liabilities, or from the estate of any third party donating an asset to the Foundation.
- Direct administration of the foundation by client´s personnel without the need of trustee entities such as banks.
- Option to continue administering the client’s estate after his death on behalf of beneficiaries.
- With this legal entity in place upon the Founder’s death, the beneficiaries (equivalent to a heir) will obtain direct access and control to the Foundation´s assets, without the need of a prior and lengthy probate proceeding,so the heirs being able to have control of the bank account, shares or properties in a matter of weeks instead of months or more than a year as it happens when a Probate Court Resolution is needed (this is the case for the assets that are on the deceased´s name – with or without a Will).