LAGlex.com - Lombardi, Aguilar & Garcia
| Business category 1 | Corporate Register & Transfer |
| City ( of main office ) | Panamá, PA, Panama |
| Address | Aptdo 0831-01110 |
| Phones | 507-6638-8707 |
| Fax | 507-3-406446 |
| Web site | www.laglex.com |
| About | Lombardi, Aguilar & Garcia is a consulting firm created as an alternative for clients worldwide who seek fast, innovative and effective solutions to their legal problems. The firm currently provides services to individual and corporate clients in Panama as well in the Americas, Europe and Asia. Its partners maintain a commitment with professional ethics and social responsibility by participating in the board of directors of groups such as the Panama Bar Association, the German Chamber of Commerce and the American Chamber of Commerce of Panama. The firm centers its law practice in private client services and asset protection (Private Interest Foundations, Trusts) , business structures (Offshore Corporations) , tax planning, real estate and e-commerce. It also advices in areas of Law such as Corporate, Commercial, Intellectual Property, Maritime, Tax, and Immigration Law as well as related litigation that may arise. Offshore Structures Private Interest Foundations The private foundations were born some years ago in Panama, in order to give the offshore users a new approach, a more civil and familiar approach. They have the same Tax and Registry principles, but with a civil oriented system. The foundations can sign and negotiate commercial contracts eventually and they are not subject to income tax when the income was produced outside Panamanian territory. The Panama Private Foundation has its origins in the Law 25 of 1995, which in turn was inspired in the Liechtenstein Persons and Company Act, which contains one of the first references to the private non profit foundations. In Panama, this and the most recent innovations in the Anglo-Saxon Trust enabled the creation of the Private Foundation utilizing the best features and characteristics of both worlds. A Foundation is a legal entity that can be created by either a natural person or a corporation that later transfers part or all of his / her assets to the Private Foundation so they can be managed and protected in favor of the Beneficiaries. Among the features of the Panamanian Private Foundations we find: - Quick registration 24-72 hours; - They provide a fiduciary structure for the orderly transfer and disposition of assets to beneficiaries upon the death of the Founder, keeping control of the assets during lifetime; - They may be established to have effects from the date of their constitution or after the death of the Founder; - According to Law 25 of 1995, inheritance laws that apply in the domicile of the Founder or the Beneficiaries, shall not be effective against the Foundations assets nor may these laws affect the validity or performance of the Foundations objectives; - Foundations are established to carry the specifics goals set out in the Foundation Charter and may additionally undertake sporadic commercial activities, exercise rights pertaining to their holdings, own property, contract obligations and take part in administrative or judicial proceedings. - A Private Interest Foundation should be established with a patrimony destined to fulfill its objectives, which shall be no less than USD10, 000. 00. Said patrimony may be increased by additional contributions of the Founder or third parties and does not have to paid in part or in full before the incorporation; - The assets of the Foundation become legally independent and do not form a part of the private estate of the Founder. Such assets cannot be seized and may not be subject to any prejudicial action or measure, unless such action or measure pertains to obligations incurred or damages arising from the fulfillment of the Foundations objectives. |
| Date | 2011 Oct 29, 08:10 |