Fully Managed Foundations

“Ensuring the highest possible standards of integrity are maintained”
 

As it is widely known in the field of offshore services, the Principality of Liechtenstein took a major step with the enactment of its Law on Persons and Companies of 20th January 1926 (Personen un Gesellschaft Recht – P.G.R.-), which created “Family Foundations” (for the personal benefit of members of one or more families), “Mixed Foundations” (for the benefit not only of relatives but also of other persons or institutions”).

The “Family Foundation” also exists as a legal entity in Austria, but is not used worldwide as this country is not a fiscal haven. Additionally, there are Luxembourg and Swiss Foundations, which have features differing from those of Liechtenstein and are also little used on an international level.

The Republic of Panama drew its inspiration from the Liechtenstein Law and adapted that European model to create a more flexible and modern “Private Foundation”. This has evident advantages for international asset protection and is qualified to conduct non-habitual “commercial transactions”.

An interesting feature of the Panama law on “Private Foundations” is that, despite its inspiration by Roman Law, it includes certain interesting aspects that are widely used in “Anglo-Saxon Law”, as for example the adoption of a “protector” or “supervisory body”.

Benefits associated with foundations are:

• Avoidance of the inflexible inheritance laws in some countries where forced heirship is to be taken into account

• Ensuring that family assets are kept in a stable and continuing manner

• Providing for family and dependents

• Protecting the accumulated wealth of families considering political change and constraints, war and the effects of war on some countries

• Long term and life time estate planning

Mossfon Trust provides a full range of foundation services, including:

• Comprehensive and professional administration on a personal and continuing basis, from the establishment of settlements or foundations, acting as sole, joint or successor, foundation council, to the finer points of client reporting and continued liaison.

• Compliance with all aspects of the governing laws of the jurisdiction of foundation, retention and maintenance of all original documents and records, to the preparation of financial statements and liaison with professional advisers

We provide control and protection of the assets while keeping confidentiality to the fore of all that we do.