The Private Interest Foundation is the appropriate means for estate planning. It is a 3 in 1 because it has a large part of the Corporation, Trust, and Testament. The Company has anonymity, which provides a certain opacity of who or whom are the beneficiaries. It is mostly a Trust because it allows transferring to it: shares, money, furniture, real estate, and intangible assets, for the benefit of whoever transfers them and/or for the benefit of third parties, and it is a Testament because it allows having through a document called Regulations, everything the founder wants. The Foundation can be constituted so that it comes into force from its constitution or its founder’s death.
The Private Interest Foundation does not have a profit, and they do not have shares, as the Public Limited Company/Corporation does. They have different purposes or objectives and, in many cases, complement each other. The most appropriate purpose of the Private Interest Foundations is as a holding company or holders of company shares.
Very few countries have this novel and useful legal instrument, which gives security and tranquility by allowing estate planning, designed, controlled, and directed by who or what the founder wants in addition to the conditions that the founder wants to stipulate.
Having a Private Interest Foundation is a wise decision for those who want to protect their assets and protect the financial security of the people they love.
- It is the ideal medium for estate planning.
- They contain the best of the Corporations, the Trust, and the Will.
- With the PIF, it is not necessary to make a succession judgment, thus saving time and money. On many occasions, long and complicated problems and litigation are avoided.
- The PIF imposes severe sanctions to protect the Regulation’s confidentiality so that third parties are not known until the date when it is necessary.
- The PIF achieves what man has always wanted, that his will be done in life, and after it is absent.
- The assets of the Private Interest Foundation cannot be seized.
- Private Interest Foundations are not for profit and have no shares.
- Its most appropriate use is as a Holding or holding of shares.
- It is constituted in 4 business days and if urgent in 1 business day.
- Avoid testamentary disputes.
- It has a natural or legal person named Protector, responsible for ensuring that the Foundation’s administration meets its objectives.
- Fill out the form for the constitution of a Private Interest Foundation.
- Hand in to us a regulation (an example is attached).
- A full copy of passports, other identification, and two public service payment vouchers from the founder and representatives’.
- Payment of expenses and fees for the establishment of the Foundation.