Panama Offshore Trusts for Asset protectionThe Panama trust is basically a written agreement describing how the assets are going to be managed. Basically, this is all that a trust is with different types of agreements. (a few trust types are: Revocable trusts, irrevocable trusts, land trusts, spend thrift trusts). Some say trusts are used for the super rich, and foundations are used for the gazzilionaires. Normal trust setupTo set up a trust in Panama you will need a “settler”, the settler is the person who created or set up the trust. There will be a “Trustee”, this is basically the manager of the trust and its assets. There are also “beneficiaries” or “beneficiary”, who will somehow benefit from the trust (this varies how the written agreement is setup from case to case). Important noticeThe Panama trust is not a judicial person such as a Panama Company or the Panama Foundation. Where the judicial person has its own separate debts and assets. |
