In addition to the normal corporate matters, ANORCO also offers a wide experience in the formation of trusts, which are useful vehicles for estate planning and asset protection; minimization or deferral of tax liability, confidentiality on the transfer of assets, limiting the effects of professional liability, anticipating government confiscatory measures and similar conservation measures, among other matters.
Some of the characteristics of a trust are:
Control on the trust assets exists when the trust is revocable, or when the Settlor has control of a corporation appointed as trustee.
Confidentiality can be obtained if the beneficiaries are corporations with bearer shares.
Can be used for commercial purposes.
Our partner, Dr. José Ángel Noriega, drafted Law No.1 of 1984, whereby Trusts are regulated in Panama.
