Panama Private Foundation

• The Private Interest Foundation provides important levels of confidentiality and privacy for several reasons:

• There is no obligation to register the regulation, being this document the one who contains the private information of the foundation, with the instructions for execution.
• The Article 35 of the Law establishes “the secrecy rule” in Panama foundations, that is, the duty of confidentiality to all members of the Foundation Council, Private Protectors. Resident Agents or Advisers, if any, as well as public employees who have knowledge of the activities, transactions or operations of the foundations, with the application of high sums and fines for violation of disclosing private information in this type of entities, even when this rule is applied without prejudice to the information that must be disclosed to the official or judicial authorities, by mandate of the law or any local case.