The Council of the Foundation shall be the governing body, entitled to exercise all the powers of the Foundation and subject to the powers reserved by Law, the Foundation Charter, and the regulations, which may be adopted from time to time.

The Foundation Council shall be composed of no less than three (3) members (natural persons), unless a juridical person is appointed, in which case a minimum of one member is required.

The Foundation Council shall render accounts annually to the beneficiaries of the Foundation, unless otherwise specified in the Foundation Charter.

The Foundations Regulations are for internal purposes of the Foundation and are not a matter of public records. Information regarding names of beneficiaries and of the protector and method for distribution of assets can be contained within the Regulations; thus will not be publicly disclosed.

For additional information please visit the following sections:

I. REQUIREMENTS FOR THE FORMATION OF A PRIVATE INTEREST FOUNDATION IN PANAMA. Click here

II. MOST COMMON USES FOR THE PRIVATE INTEREST FOUNDATIONS. Click here

III. MANAGEMENT STRUCTURE. Click here

IV. TAXATION. Click here