Panama
Decameron Panama
Nov 8th
Travelers to Panama come to the country in search of a dream holiday. While some want to experience an adventure in the rainforests here, others want to discover the rich marine life in the waters and still others look forward to a leisurely holiday. One of the secrets to Panama’s tourism is the ability to offers its travelers so much. It is thus, not surprising that visitors to the country return to it time and again and often buy real estate here.
On the Pacific coast of the country lays Decameron Panama. This world famous beach resort is only a 90 minute drive from Panama City and a great way to begin your Panama holiday. It is on the spectacular Costa Blanca. Decameron is one of the most popular holiday destinations in the country and is frequented by international as well as domestic visitors. Most visitors to this exotic resort return time and again because of the wonderful service and service it offers.
Things to do You can enjoy staying at the several resorts and hotels in the area. Most tourists prefer to stay at the Decameron because of its high quality of service and its spectacular location. Since Decameron Panama is a part of the international Decameron group it upholds a very high standard.
What to expect Decameron offers visitors a complete holiday and you can quite literally choose how to spend your vacation. You could choose to laze by the pool or on the beach or join in the many activities the resort offers. If you have never been scuba diving, then here is your chance to take your first lessons. After all you are in one of the most beautiful countries in the world that offers some of the most wonderful diving areas. Get ready to discover untouched reefs and see plenty of marine life. Go kayaking in the sea or enjoy horse riding and a host of water sports here. The resort can also help organize tours around the area and help you discover the local culture and community a little better.
The restaurants here offer a range of cuisines and are sure to keep you happy. The international influence of visitors to the country is well seen by the range of cuisines on offer and the wonderful preparation.
Accomodation The beach front property has its own private beaches. You may also enjoy availing services such as the spa, casino and the golf course. Decameron is truly a holiday for the complete family. Hotels have shows and games planned for the kids. This ensures that everyone has a great time and takes home some great memories of their holiday. The staff here is friendly and multilingual and makes your stay more comfortable and enjoyable.
The Royal Decameron Panama has over 800 rooms. Each room boasts of a spectacular view and has interiors that perfectly complement it. The resort seems to have found a fine balance in blending the past with the present. On the one hand it offers modern facilities and on the others its décor reflects the rich history of the country. Do remember that if you are planning a trip during peak tourist season, from December to April, then book your rooms in advance. Early bookings are also sometimes entitled to discounts. You could also opt for a little more privacy by booking into a villa.
What is the Difference Between a Panama Foundation and a Trust?
Nov 7th
If you’ve been studying the offshore and asset protection arena for a little while, you might well have heard a lot of good things about the strong privacy benefits of the Panamanian Private Interest Foundation. As an asset protection and estate planning vehicle, it’s second to none.
Most of my consulting clients who choose this vehicle are seeking to create a legal structure that will reduce tax liabilities, protect their hard-earned assets from lawsuits or claims, and make sure that on death, their estates pass to their chosen beneficiaries without unnecessary legal disputes or fees.
The Panama foundation is based on the legendary Liechtenstein Foundation or ‘Anstalt’, the preferred wealth management choice of generations of continental Europeans. But it is not so well known or understood in the English speaking world. And these days, in my opinion Panama offers better offshore secrecy and confidentiality than Liechtenstein.
You might well have searched a few websites and read articles about Panama Foundations in rather confusing terms. Such articles are often written up either by internet marketers who have little idea about law, or by Panamanian lawyers who have little idea about Anglo-American common law and whose first language is not English.
But few people understand what kind of legal animal a Panama foundation really is. That’s probably a very good thing from the point of view of privacy for those of us using them! The difficulty for many clients is of course deciding upon the best course of action or structure to use. Recently, at the request of one of my clients, I set out to explain in plain English the Panama Foundation, and that was the inspiration for writing this article. In particular, the most frequently asked question is: what are the differences between a Foundation and a Trust of the Anglo-American variety.
Here is the answer. A Panama Foundation combines some of the best parts of a trust, and the best parts of an IBC or Offshore Company into one legal entity. A Foundation is typically set up to passively hold assets like bank accounts, stocks and shares, and real estate.
The key thing is that, unlike corporations, Foundations do not have owners. They have beneficiaries instead (for example, your heirs).
And the interesting thing about this is that in most countries it legally sidesteps reporting requirements.
Even in the USA, there are ways you can structure a Panama Foundation to legally avoid IRS reporting requirements. Because US tax law doesn’t specifically recognize Foundations, it is quite flexible on this – you decide how to declare your Foundation. (This only applies to US taxpayers. Other nationalities have it much easier)
The best way to keep your assets safe in a Panama Foundation is, ironically, by avoiding Panamanian banks. By keeping the bank account in another country on another continent, you are protected not just by strict Panamanian secrecy and asset protection laws, but by something even stronger… what somebody doesn’t know, they can’t tell. You can make sure that your Foundation are structured so there is absolutely no record held in Panama of what the assets are and where they are located.
An additional note: Panama Foundations are attractive for Estate and Inheritance Planning, too. They offer a way to segregate certain assets and avoid the need for probate on offshore holdings. They can be used inter vivos, replacing a living will.
