Corey Engelen Reccommends

 

 Corey Engelen wanted to share this article by Peter Macfarlane.  Peter is an expert is offshore protections and has a great blog and website

 

PANAMA FOUNDATIONS AND TRUSTS DEMYSTIFIED – Part 1

Posted on: September 2, 2015 by QWR Team

By Peter Macfarlane

Editor’s Note: we have just uploaded the latest version of our Panamanian Foundations Demystified Report to the members’ area of our website. To read the report in full, and see all the latest Q Wealth Reports and Special Reports, enrol now here:

You might well have heard a lot of good things about the strong privacy benefits of the Panamanian Private Interest Foundation. As an asset protection and estate planning vehicle, it’s second to none. Most of my consulting clients who choose this vehicle are seeking to create a legal structure that will reduce tax liabilities, protect their hard-earned assets from lawsuits or claims, and make sure that on death, their estates pass to their chosen beneficiaries without unnecessary legal disputes or fees.
You may have Googled a few websites and read articles about Foundations in rather confusing terms. Such articles are often written up either by internet marketers who have little idea about law, or by Panamanian lawyers who have little idea about Anglo-American common law and whose first language is not English.
Few people understand what kind of legal animal a Panama foundation really is.
That’s probably a very good thing for those of us using them
The difficulty for many clients is of course deciding upon the best course of action or structure to use. But I am about to let you in on the secret… The purpose of this report is to demystify the Foundation, explain the concept in plain English, and explain the differences between a Foundation and a Trust of the Anglo-American variety.

A LITTLE HISTORY
Those interested in Panamanian foundations have many questions, but I have found that what most people first want to know is: What’s the difference between a trust and a Panamanian foundation?
Very little, is the simple reply, and although this article is only a general outline of the subject and is not intended to substitute for a detailed analysis of the Private Interest Foundation legislation created under Law Number 25 of 1995 in Panama, it will give the reader a broad picture which will provide an overall view of this useful addition to Panama’s slate of offshore financial services products.
The definition of the Panamanian foundation can be elusive and it has been viewed as an incorporated company without participating members but still having limited liability. It can be argued also that it acts like a trust but operates like a company because it is, in essence, a company with beneficiaries instead of shareholders.
The foundation can be created by one or more individuals and it can also be formed by a company or other legal entity. Although the foundation must have a name, it is not necessary for the party or parties creating it to be recorded in the foundation charter as the founder or founders because a nominee can be used.
In this way complete confidentiality can be achieved. The confidentiality provisions of the local law require both professionals and public servants not to divulge information to unauthorised third parties, except that disclosure will be sanctioned in the case of defined crimes. Unauthorised disclosure can result in a fine and imprisonment.
Foundations in Europe have been used for over 100 years and it is fair to say that the law governing Panamanian foundations is based on Liechtenstein law so the nature of the Panamanian foundation is understood and appreciated by many Europeans. Foundations in Panama, as in Europe, are ideal succession tools, and they can either be inter vivos (active during the client’s lifetime) or testamentary (upon death) but they may not engage in general commercial activities, unlike a trust.
They are also appreciably cheaper to maintain than the European variety and if commercial activities are contemplated, a company owned by the foundation can be utilised.
Although the Panamanian foundation cannot be established for purposes of commercial profit, it can own assets (such as active companies) which do generate profits. It is best to regard it both as a receptacle for the assets of the offshore structure and the means by which beneficial ownership of those assets is determined.
The foundation can serve as a substitute for a will which avoids probate and can effectively isolate a portion of one’s estate dictating the management and succession of specific assets.

Corey Engelen has read this article and can say from Personal Experience the Panama Foundation and Trusts are a great vehicle to help you diversify into Central America.  Corey Engelen has also had experience assisting non-USA clients in Lichtenstein and Switzerland.  www.swissinvtrust.com www.coreyengelen.com coreyengelen.net for contact details

Thanks again Peter for a great article.  Be sure to visit Peter's website www.qwealthreport.com and utilize his Company for education and knowledge to help you make the right decisions for you.

Thanks

Corey Engelen  

I Just had to share this funny CAPTCHA I got while signing up with Wikipedia, to promote our ECOWAS Clean Water Initiative.  corey-engelen.info  ....

 Setting up a wikipedia user account for CoreyEngelen I got this funny captcha. Is this because wikipedia thinks all people in Colorado have more than 1 bong? I still have none.

August 4, 2015

Hi Everyone,

Our new website is up for ECOWAS Clean Water Initiative

You can view it at coreyengelen.net or corey-engelen.info

We have a goal to create an additional 125 new clean water well sites in Mali, Guinea Conakry, Sierra Leone and Ivory Coast this up coming quarter.

We want to thank our over seas partners for providing funding to accomplish this goal.  We do not accept donations directly to cover the cost of these items just yet as we are awaiting 501 (c) (3) status from the IRS.

But thanks to the many people who have offered your money and time to serve this growing need.  There are many good groups that do accept money for their initiatives and we ask that you please support them.

We will be happy to let you know when we are capable of accepting tax deductible contributions.  Hopefully that will be sometime in early 2016.

VOLUNTEER

SPREAD THE WORD

Learn how you can get involved with U.N. Diplomatic Services Corp

WATER

Diarrhea caused by inadequate drinking water, sanitation, and hand hygiene kills an estimated 842,000 people every year globally, or approximately 2,300 people per day.

More than 1/2 of all primary schools in developing countries don't have adequate water facilities and nearly 2/3 lack adequate sanitation.

Clean water is one aspect of improving sustainable food production in order to reduce poverty and hunger.

More than 80% of sewage in developing countries is discharged untreated, polluting rivers, lakes and coastal areas.

By 2025, 1.8 billion people will be living in countries or regions with absolute water scarcity, and two-thirds of the world's population could be living under water stressed conditions.

Every $1 spent on water and sanitation generates $8 as a result of saved time, increased productivity and reduced health care costs.

884 million people in the world lack access to safe water supplies.

More than 840,000 people die each year from water-related disease.

Almost 2 in 3 people who need safe drinking water survive on less than $2 a day.

In many developing countries, millions of women spend several hours a day collecting water from distant, often polluted sources.

Every minute a child dies of a water-related disease.

Can't spend a dime? 
Then, spend some time... helping us help those in need.

Together, we can make a difference

Clean water is a necessity of life. But it's actually become one of the most precious resources in the 21st century. In fact, one in nine people live without access to clean, drinkable water. We work tirelessly to help bring clean and safe water to people in developing countries.

CoreyEngelen

Corey Engelen

Let us know how you can help save lives.

Pictures from Dubai

Gold, Is it the time to buy??

Interesting Article from our Friends at www.goldprice.com

Gold Price

Gold has been coveted and used by human beings since the Bonze Age. Its scarcity, malleability and beauty has made it a store of value for thousands of years. Two of the biggest roles gold plays in our lives are that of jewelry and money.

It might sound strange these days to hear of gold being money. Decades of devalued fiat paper currency have conditioned our minds to think of the dollar, the euro, the yen when we hear the word "money". It is gold, however, that is the ultimate money. As a currency, gold has served mankind for millenia.

As economies around the world slide into lethargy, with rising unemployment, skyrocketing tax rates and fiscal cliffs around every corner, interest in gold is booming. Investing in gold is not buying earrings or necklaces. It means giving up some paper money in exchange for true wealth. It means obtaining a good that cannot be devalued, cannot be frozen in a bank account and does not lose value over time.

To put things into perspective, consider a one-troy ounce gold coin with a face value of $50. Fifty years ago that coin was worth its face value: fifty dollars. In 2013 that same coin is worth more than $1,700 (yes, one-thousand seven hundred dollars)! How could a $50 coin be worth so much? The answer is one word: gold.

The coins you have in your pocket right now look silver, but don't be fooled. They are merely a collection of metal alloys with no intrinsic value. Only your faith in their value and your faith in your government give it value. A gold coin, on the other hand, cannot be produced at will. The gold must be mined, refined and minted. Since gold is a scarce metal, this gives it an intrinsic value that can never be destroyed by a financial crisis or bank run.

The gold price is determined in the gold exchanges around the world, where investors trade assets related to gold. In 2013 one troy ounce of gold is traded for more than $1,600. Since a $50 gold coin contains one ounce of gold, it is easy to understand why its price is so high. Fifty dollars today will not buy you the same things they would 100 years ago. In the early 1900's fifty dollars was enough for a month's grocery shopping. Today it's only good for a trip to 7-Eleven.

What happened to the dollar? Simple: it has been devalued. When US money was backed by gold, a $20 face gold coin bought a lot of goods. Twenty dollars today is barely enough to get you out of your front door because a twenty dollar bill is not backed by gold. Actually, it is not backed by anything except faith in government. The explosion of interest in investing in gold is a direct consequence of our nightmarish economic situation these days. As the public loses faith in government and its ability to solve problems, faith is also lost in its currency. Who pays for all the wars, social programs and bank bailouts? You do, through currency devaluation by means of money printing.

Gold cannot be printed. It cannot be suppressed. It cannot be controlled by politicians. Gold is a symbol of the free man. Does it surprise you that Amschel Rothschild was quoted as saying "Give me control of a nation's money supply, and I care not who makes its laws.".

The time to invest in gold is now.

Corey Engelen s trip to Guinea Conakry