Fideicomiso vs. Private Interest Foundation
Panama
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Fideicomiso |
Private Interest Foundation
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| Origin | Anglo-Saxon Origin. | Roman Law legacy and ruled by Civil Law traditions. | |
| Legal Capacity | Contractual relationship ruled by law, the instrumento de fideicomiso and the “letter of wishes”, which contain the rights and duties of the Settlor, Trustee and Beneficiaries. | Independent Legal Person ruled by law, the Foundation Charter and the bylaws. | |
| Title of the assets | Title to the trust assets are in the name of the Trustee. | The assets are owned by the PIF. | |
| Powers | The Trust’s obligations, bank accounts, etc., are managed and under the name of the Trustee. | The PIF’s obligations, bank accounts, etc. are managed by the Foundation Council, under the name of the PIF. | |
| Commercial Activities | The Trust may carry out commercial activities. | The PIF may carry out occasional commercial activities. |
