Investment fund in Panama
Panama has one of the most extensive opportunities required for creation and then distribution, effective planning and rational investments. The country’s legislation has adapted well to the needs of any investors, including foreign ones, and offers them convenient and effective tools to fully protect their interests.
The financial and tax legislation of the country is often used by foreign entrepreneurs who want to secure their tangible and intangible property by creating an investment fund.
This form provides for the transfer of any rights of the founders to all property on the basis of the signing of agreements between all participants, founders of the foundation. This allows in the future to separate the assets of the current owners from their predecessors, as well as to protect the founders from any liabilities.
Opening an investment fund and its features
The fund opened on the territory of the country has a number of features:
- It immediately has the status of a legal entity faces.
- The purpose of creation and tasks are formulated in a declaration.
- The foundation has founders, i.e. founders, as well as a governing body, but does not have an official owner.
- The same person can be both the beneficiary and the creator.
- Such an investment fund can be involved in entrepreneurial activity, which is permissible to achieve a single goal, although commercial activity is not the main activity of such an investment fund.
- He makes a profit in the form of dividends or royalties, interest, which are considered passive income of the fund.
- The foundation can establish commercial organizations, companies and own any assets.
Benefits of investment funds registered in Panama
Everything is well thought out in the current legislation of the country. The assets of the funds are inaccessible for signing claims 3 years after the transfer. If for three years the applicants for all the assets of the fund have not applied to the court authorities, then after some time, any claims for damages will be rejected.
Main advantages of a fund registered in Panama
- Great advantages for planning and subsequent tax optimization.
- If they are received outside the territory of the country, then the founders are exempt from taxes, the management, the founders of the fund pay a small contribution to the budget of Panama. This is done once a year.
- There is no foreign exchange control.
- There is no need to conduct an annual financial audit, keep accounting records and submit reports.
- What documents are to be kept is decided by the management, founders and protectors of the foundation.
- There is no need to meet regularly.
- Internal documentation is drawn up in any convenient language, including Russian.
- There is no need to order the creation of a seal, there are no branding requirements, etc.
Panamanian foundations are protected, confidential, and basic data entered into a charter for future reference. All founders, as well as members of the board of directors, are responsible for non-disclosure of data on the investment fund, all who have any access to classified information about its activities.
Purpose of creation
- This format is useful when you need to protect assets from threats and maintain confidentiality.
- The inheritance is distributed at the will of the founder.
- The property of the foundation cannot be seized in the future in connection with claims that may be received from creditors, and the property of the foundation cannot be seized either.
At the will of the founder or founders of the foundation, inheritance may be distributed. You can also leave a claim for a share, as well as transfer property to persons by order of the founders
A fund is created in Panama quickly, registration will take up to 3 weeks.
- Capital is being formed. The amount of the contribution is feasible for registering a fund and is within 10,000 US dollars. The authorized capital can be deposited in any foreign currency and the entire amount is not paid at once.
- The name of the investment fund is selected. It must be unique and not used, the term “Foundation” must be added.
- An office is chosen, an agent, a legal adviser is rented.
- An investment fund is registered after:
- The flat fee payment is $ 350.
- Constituent documents are being prepared, as well as powers of attorney, a detailed list of council members.
Documents are submitted for registration, drawn up and a ready-made package of papers (documents) is handed out.
Annual state levy, duty, is 400 US dollars. It is important to comply with the deadlines and pay the fee on time so that the fund is not fined and excluded from the state. registry.
Features of the foundation and its organizational structure
The organizational structure of an investment fund registered in Panama has some peculiarities
- Information about the founders and creators is not classified and is in the public domain.
- Founders can be both individuals and legal entities, have different citizenships.
- The creator of a foundation can be a council, a protector-trustee, beneficiaries, local agents, as well as residents through whom the relationship between the authorities and the foundation is carried out.
Foundation in Liechtenstein
The Principality of Liechtenstein provides favorable conditions for the registration of funds, Stiftung, interested businessmen from Russia and other countries of the world on the territory of the country. Such a fund is a special format. It is a hybrid of a limited liability company and a trust.
The purpose of the fund: preservation, as well as subsequent augmentation and management of the finances and property of the company. The goals of the fund are defined very shortly, narrowly. This can be any purpose not related to any commercial activity, the affiliates of the fund are known in advance, prior to registration. The property of such a fund belongs to the entire structure and does not provide for donation or transmission from generation to generation.
Features of an investment fund registered in Liechtenstein
Minimum deposit amount, 30.000 CHF (also EUR or USD)
Founder: natural or legal person, anonymity is respected
- The foundation should not pursue commercial goals, only if non-commercial goals are achieved through commercial goals.
- In case of profit, the tax is 12.5% or a fixed amount is paid, min CHF 1200.
- If the investment fund, Stiftung, is not engaged in commercial activities, then the tax is also fixed at 1200 CHF.
- After the registration of the investment fund, an audit is carried out in a planned manner.
- One member of the Invest. the fund must necessarily be a resident of the country.
- Office is registered.
- Accounts of funds, accounting are required.
- Purposes and features of registration
Your foundation, registered in Liechtenstein, acquires legal personality. Assets are separated from legal entities. person and founder, respectively.
The basic, main goal of the investment fund: the implementation of the non-commercial intentions of the founders, founders. For this purpose, members of the investment fund are hired and a governing body is determined.
What could be the objectives of a foundation registered in Liechtenstein
- Management of family or other assets related to payment of education or transfer of ownership.
- Benefits of social significance and orientation, including artistic, cultural, social, scientific.
- Funding for religious preaching work or charity
- Accumulation in fund accounts and transfer of funds necessary for existence.
If the goals of the fund are of an economic nature, then the commercial use of the fund’s assets is possible to achieve them. Advantageous acquisition of a mixed format is allowed, for example, a family one.
Registration period: 3 business days
Registration fee: CHF 3500.
The registration procedure includes the following steps
- The name of the fund is checked
- Stamp duty paid
- One set of documents, constituent documentation is formed, and then transferred to state bodies.
- Tax is paid from the authorized capital.
- A fund representative or local agent is hired.
- An account is opened, a seal is ordered and created
Investment funds in the principality and features
Both physical and legal entities can create such an investment fund. a person without any territorial, property, civil restrictions. Further, all information about the fund is entered into the State Register. Information about the investment fund is communicated to the public and from that moment it is considered officially registered.
Main features of the investment fund in Liechtenstein
The entry threshold is minimal, when compared with other forms, is 30,000 Swiss francs. Before the foundation of the fund, the money is transferred to one of the banks in the country.
It is important to formulate goals correctly. They must not be immoral and not oppose the laws of Liechtenstein.
The name of the fund must be unique and original. It is registered in the state register, titles are necessarily checked so that in the name and abbreviation, the logo does not contain anyone’s mention of companies operating in the insurance or banking sector, engaged in other commercial, incl. consulting, activities.
In such a fund, special attention is paid to the preservation of information. Basic information is kept by the court registrar, other information about the fund is classified and protected from possible disclosure.
High level of responsibility. The funds of the investment fund, Stiftung, are used for clear purposes to pay off debts. Usually, even at the registration stage, it is stipulated that creditors cannot deprive the beneficiary of the benefits.
Fund funds are formed as assets that are under the control of the founders.
If it is impossible to achieve the goals, then the fund is canceled. You can also prescribe other features of the end of his activities.
Foundation administration and beneficiaries
In a special document, even at the registration stage, goals are agreed, managers and beneficiaries are appointed. A special admin is created for management. a body called a “council”. The status of a member, their number is negotiated in advance, and if not agreed, then it is possible to appoint as members of spouses, foreigners without domicile in Liechtenstein.
Requirements for a Liechtenstein resident
- Licensed as an agent, lawyer, auditor or trustee.
- Members of the foundation have qualifications recognized in Liechtenstein and have permanent residence in the country.
- The powers of the foundation council are stipulated and recorded in an act or charter.
- If the fund will conduct commercial activities, then there must be an auditor position.
Supervision and taxation
The Liechtenstein government can control all foundations, except for religious and family foundations, respectively. Such a structure will definitely need a representative to use its legal address.
Two reports are submitted annually
- Asset status document
- Capital tax payment
- Taxes and levies on financial asset gains, property fees are not required. Also, funds used for inheritance and donation do not fall under taxation.
- An additional tax withholding of 0.2% of the nominal capital is possible.
Investment fund in the Bahamas
Bahamas, Bahamas are offshore jurisdictions. The government of the country offers legal entities and individuals a variety of tools, effective and efficient, used to distribute, preserve and protect their property. Some of them are investment funds, the activities of which are regulated by the legislative framework, adopted and signed for use in 2007. They provide great opportunities for flexible management and distribution of investment fund assets.
Investment funds, they can be used for commercial and investment purposes. Such funds are a good alternative to trusts and are suitable for those who want to protect their own assets from external encroachments.
- Investment funds in the Bahamas are registered for legal entities and individuals, and do not belong to anyone. They can be created for different times, it can be fixed or indefinite.
- Foundations can enter into agreements with external parties on their own behalf.
- There must be a founder. It can be a legal entity, an individual who creates the structure and retains certain powers beneficial to the founders and the council.
- Advice is needed to make key decisions, track the implementation of the founder’s instructions.
- Employees of the investment fund, including the secretary, guarantors control the activities of the council.
Beneficiaries as well as beneficiaries are enshrined in statute. They can request information on how the fund is managed.
Benefits of registering an investment fund in the Bahamas
It is in the Bahamas that investment funds of this format are most often created. Their founders are attracted by the tax, investment, climate in the country, stability and how the legislation is adapting to the needs of the founders who are the fund investors.
- You can own various assets, including stocks, deposits, investment portfolios of different sizes, real estate, as well as property, etc.
- Long term of existence.
- There are levers for property management with a holistic structure of the fund.
- The property is protected from outside encroachments.
- There is no foreign exchange control by the state and external audit, favorable conditions and tax climate are created
- Founders, founders remain the owners of the property.
- The Fund can be legally transferred to another jurisdiction.
- Outside the Bahamas, investment fund assets cannot be liquidated through claims.
Creation of funds and their typification
Investment funds created in the Bahamas can be charitable, created with the aim of supporting social and cultural projects, humanitarian, as well as scientific and scientific educational programs, private funds that are created to protect or transfer finances in one family, the elderly or heirs, etc. …
- Perfect for tax-efficient planning of taxes in the direction of their reduction, inheritance. When creating, the following points are taken into account:
- The authorized capital of the investment fund must be at least 10,000 US dollars, the assets may be different.
- Investment capital is deposited gradually, at the discretion of the founder.
The name of the fund is written in Latin letters, is fixed and must not coincide with the name of existing investment structures, in order to receive all tax preferences, the fund must be registered.
Information on founders is not shared.
Employees of the investment fund, how the reporting is formed and the specifics of taxation
The main controlling management structures, regulators that will conduct business or charitable activities on behalf of the investment fund, include the following:
- Multi-person tips.
- Supervisory bodies that include a trustee or guarantor.
- Fund Director, Secretariat.
- Also, an employee responsible for the safety and maintenance of accounting and reporting documentation is assigned to the fund. Verification of documents is carried out by the directorate of the fund, the trustee. Additionally, an auditor can be appointed.
Any information related to the fund is not subject to disclosure.
Investment funds established in the Bahamas are practically not taxed, which opens up great opportunities for organizing and conducting commercial and other activities.
In the Bahamas, as in other islands, a minimum, reduced rate applies. It belongs to the main advantages of creating an investment fund on the territory of the islands.
Investment fund in Switzerland
If you are an investor and want to place finances to manage or protect your own interests and create a fund, look at Switzerland. Here you can arrange several popular classic forms of modern investment funds. This is a great alternative to trusts, one of the ways to preserve and increase assets. You get a reliable level of security, protection, confidentiality. The procedure is characterized by more complicated paperwork for launching investment funds, for example, when compared with Liechtenstein, but there is great interest in investment funds registered in Switzerland.
Here you can register the following forms of investment funds:
- Foundations are by type: state, as well as private, public and mixed.
- By affiliation, they are municipal and corporate.
- General funds, as well as independent legal and special funds, these include religious, family, welfare.
They have a common structure for registration. All investment funds must have founders, a guarantor. There should also be beneficiaries, an official governing body and a governing board established at the registration stage.
- After approval, a legal entity is immediately formed.
- The foundation immediately becomes the owner of the property.
- The presence of start-up assets in a clearly defined amount is required.
- Pursuit of certain goals. For example, commercial activities, charity, protection of individuals, i.e. private property interests.
- The structure is approved for a certain period.
- Types of investment funds and their features
In Switzerland, most often, special funds are registered. Such funds pinpoint goals, prevent non-disclosure of information, help structure financial assets, build a clear and easily manageable management system.
Funds Legally Provided in the Country
- Family funds, used by family members for specific purposes, for example, paying for education, as well as supporting life and so on, to become eligible entities, such funds are registered in the Swiss Commercial Register, used for planning.
- Religious foundations are provided for those who preach a particular faith. They must also have a religious purpose.
- Pension funds, welfare. They are created to support a certain standard of living or as a proven, special and easily regulated mechanism for preserving finances.
- Charitable foundations can be governmental or non-governmental. They can be international, they can be used to support cultural, as well as social, research, scientific and other spheres.
- Entrepreneurial funds. They are created for the implementation of certain investment economic goals. They exist in the format of joint-stock companies for industrial and commercial work or planning actions with real estate.
How are created, registered and liquidated in funds in the country
- The announced threshold for financial investments, capital, the minimum, which is 50,000 francs.
- Compulsory registration in the Commercial Register, except for family foundations, it is not necessary to register them.
- To establish a foundation, you must contact a notary to certify the act of this or other testamentary disposition. After the creation of the charter, the foundations acquire legal status.
Information that must necessarily be contained in the Charter
- On the highest governing bodies, for example, a council, which consists of at least 3 legal entities or individuals. Members, tasks and areas of their competence are prescribed.
- On the organizational form, which must necessarily correspond to the productive use of special equipment.
- Investment fund assets can be in the form of stocks, as well as securities, productive investment portfolios, or bank deposits.
- Particularly popular with domestic investors is the preservation of objects of historical and intellectual property on the territory of the country and abroad, real estate. Reverse assignment is prohibited by law. If the assets are contributed to the fund, then they cannot be returned in whole or in part. You can liquidate the structure. To do this, you must apply to the federal authorities with a statement.
Features of control and taxation
These funds are controlled by the community, for example, federal or municipal. For this:
- Financial statements are submitted annually on the activities of the fund, the balance sheet, profit and loss statements, and other applications are analyzed.
- Control is exercised by the council of the fund.
- Checking the forms of the fund’s activities by the auditor and drawing up reports.
- Updating the list of council members.
- From the point of view of taxation, such funds are most beneficial for registration in Switzerland. This is because they allow the entrepreneur to avoid double taxation.
The country has a 3-tier system of levying taxes from funds, as a rule, these are federal, as well as various municipal taxes levied by offices.
For non-residents of Switzerland, there is practically zero rate.
Switzerland’s cultural, charitable, humanitarian, educational, scientific and health foundations are exempt from federal and regional taxation.
The inheritance tax has been slightly reduced.
Создание траста на Кипре
Trust is one of the most popular forms of company in Cyprus, the registration of which is governed by laws passed at the government level in 1992 and 1995. These are flexible structures, simple and convenient taxation tools.
Cyprus legislation is loyal to foreign companies. For this reason, investors and founders have the opportunity to fully represent their interests.
If you approach the issue correctly, then the beneficiaries will not control the trust, which will allow the founders of the trust to avoid retained earnings in the form of personal income and additional taxation.
International trusts in Cyprus agree on all issues in accordance with the legislation of the Republic without any reference to foreign, for example, Russian, law. Such a trust will not be invalidated just because the law of another country applies to it, which does not recognize the concept of an international trust.
In the event of bankruptcy, the international trust cannot be declared invalid, and the founder is not liquidated. If someone has a claim against the founders of the trust, then the government of Cyprus gives them 2 years to prove malice and apply.
Formality is of great importance in the organization of a trust in Cyprus. Information on the trust, its founders was not disclosed.
Taxation in Cyprus, in relation to trusts, has a preferential tax regime, which is enshrined in Cyprus by a new law, according to which a unified taxation system for beneficiaries is introduced. All of them are tax residents of Cyprus and, accordingly, are subject to all types of taxes that exist in the country.
Establishment of trusts in Malta
According to Maltese law, there are favorable conditions for registering trusts. The island is small in size, for a long time of the formation of statehood, attractive socio-economic and political conditions have developed here for high standards of maintaining the conduct of business in the field of business, thanks to which the Maltese trusts deserve our attention.
They are characterized by a traditional structure. At the stage of registration, the owner also separates from himself the main rights to the assets and then transfers the finances to the trust for trust management.
Activities in Malta for the establishment and operation of a trust are governed by the 2007 legislative framework, created taking into account the Hague Convention, which greatly facilitates the registration procedure. They are governed by foreign and local law, controlled by the Maltese state.
The peculiarity and essence of Maltese trusts is that the transfer and management of property is legally carried out in the interests of others. Third parties can include charities, family members of the founder, employees who receive comprehensive support after retirement, and so on.
Malta Trusts, Purpose and Key Benefits
It is believed that establishing trusts in Malta is an expensive procedure. But, despite this, there is a convenient and transparent mechanism for creating trusts for various economic purposes. Reasons to choose Malta for a trust
A favorable financial and, above all, tax climate, which provides great opportunities for financial business planning, for example, income from assets and inherited real estate are not taxed.
All assets are reliably protected, external claimants have no rights to them, and they are also protected from political and social instability.
Information about the registration of the trust is confidential and not disclosed to third parties.
If the founder dies, then his property does not fall under the management of the management, and the allocated assets are introduced without payment of duties, stamp and other duties.
These advantages are driving the interest of many entrepreneurs and individuals in Malta as a country for registering a trust.
Purposes for which trusts may be registered
In order to preserve family property, that is, to plan an inheritance, to protect the interests of children and other heirs, including in divorce.
- The property is structured and control is retained.
- Tax planning is provided.
- Cultural, social and charitable goals are pursued.
- Employees are supported and encouraged. Confidentiality is maintained in the event of a benefit.
Establishing a trust in Malta is beneficial for those who want to get maximum protection and at the same time have flexible tools at hand to transfer benefits to beneficiaries.
What types of structures exist and the process of their creation
Trusts are created in Malta quickly, sometimes it will take 1-2 days. For this, a written application is written. It can be a declaration or a will, perhaps an oral statement. In addition, the trust can be unilateral. The trustee is appointed by the manager, determines the beneficiaries. In this case, he waives the rights to the property, the trust itself receives them, the owner only disposes of them.
A trust as a legal entity is created if the settlor is officially registered in Malta. He cannot own real estate on the island, shares of Maltese companies. You also need to consider the following:
- Registration is optional. Therefore, foreign companies may not be registered. In this case, the trust loses the right to tax benefits.
- Professional managers are necessarily appointed at the registration stage.
- Trusts are created for a period of 100 years without the legal establishment of the right of inheritance.
- Trusts created on the territory of the country are divided into national, local and foreign. By type, they can be discretionary, accumulative, created for support, with fixed income or with a one-way return.
Features of trust management and specificity of taxation
Trustees of a trust can be either private, natural persons or professional. After registration, only a special, professional type of trustees is possible. They can also be local residents or individuals and legal entities operating on the island, who can receive material rewards, submit declarations and receive permission for their activities.
If the trust is not registered, then the trustee, an individual, is not entitled to remuneration, has family relations with the founders and is not entitled to provide such services to more than 5 founders.
Guarantors are appointed, one or several, to monitor compliance with real activities. All information was not disclosed. According to the laws in force on the territory of the island, in case of disclosure, penalties are provided, the income between the beneficiaries is distributed by a specially established manager.
If this is not done, then after the registration of the trust, the tax will be up to 35%. In addition, taxes are not levied on trusts, on which income outside the island is withdrawn on time and only the beneficiary tax is paid on the distribution of income from profits received outside the island, taxes on profits are not taxed, not subject to distribution.