Characteristics of the Trust

Characteristics of the Trust

It is an act of trust because it requires mutual or two-way knowledge, both from the client (constituent) to the fiduciary entity, and from it to him.

In Panama fiduciary companies professionally manage and fulfill the tasks entrusted to it by its clients under the supervision of the Superintendency of Banks of Panama, giving the entire operation a character of formality and security.

The beneficiary and the constituent can be the same person. A trust can be constituted so that it takes effect after the death of the constituent, avoiding the ordinary process of the succession trial and complying with the last will of the constituent.

This structure is created in a private document, with the only formality that the signature of the constituent and administrator must be authenticated by a Panamanian notary, thus guaranteeing its confidentiality.

A trust guarantees the confidentiality of its execution.

The trust must clearly express its duration.

There must always be licit (lawful) objective in the trust, and it should be clearly stated when the contract is entered into.

Both the constituent and administrator and / or the beneficiary can be either a natural or legal person.

The trust guarantees its constituent anonymity, security, and exempts them from paying taxes (when the assets subject to it are located outside of Panama).