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The Foundation
Charter shall contain: the name of the Foundation’s
Initial Assets; the appointment and addresses of the Foundation
Council members; the Foundation’s domicile; how Beneficiaries
are to be designated; the rules for amending the Foundation Charter;
the Foundation’s duration; the assignment of the assets and
how the Foundation is to be dissolved and liquidated; and any other
lawful clause as the client may deem appropriate.
The Foundation Regulations
contain: the make up of the Foundation Assets, the powers of the
Foundation Council; the form of administration; the Beneficiaries
of the Foundation; the benefits corresponding to each Beneficiary;
the rules on the distribution of benefits; the rules on the rendering
of accounts; the class of the Beneficiaries and how they may be
varied, substituted, removed or added; the rules of remunerations;
the appointment of the Protector and his powers; how the Foundation
Assets may be liquidated; and other areas requiring regulations.
Click here to download the Panamanian Charter Documents:
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