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Is the Panama foundation managed like a corporation?

April 26, 2017corporation foundation managed panama

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Is the Panama foundation managed like a corporation?

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The same way a corporation is administered by a board of directors, the Panama foundation is managed by a Foundation Council whose powers and responsibilities shall be established in the foundation charter or its regulations. Unless the Council is a juridical person (i.e. offshore company), the number of individual members of the foundation council shall be no less than three (3).