TABLE OF FOUNDATIONS
| LIECHTENSTEIN | PANAMA | NETHERLANDS ANTILLES | |
|---|---|---|---|
| Referring Legalization |
The personen-undGesellschaftsrecht from 1926. | Law No. 25 of 12th June 1995. | Commercial Code of the Netherlands Antilles. |
| Disignation of types of Foundation | Distinguishes between pure ‘Family Foundation’ and ‘Mixed Foundation’ (for the joint benefit of a family and other persons or institutions). | Equivalent of both ‘ Family & Mixed’ Foundations are designated as ‘Private Foundation’. These can benefit any named beneficiaries whether family, natural persons or legal entities of any nature | As per Panama. |
| Registration | Optional – Charter can either be registered or deposited. | Registration Mandatory. | Registration Mandatory. |
| Initial Capital | CHF 30,000 ( approx US$ 23,000) | US$ 10,000. | No minimum |
| Qualification of Council Members | Minimum of one members must be resident and qualified in Liechtenstein. | No restrictions on domicile or qualification. | Minimum of one member must be resident and qualified in Netherlands Antilles |
| Number of Council Members | Minimum of one natural person. | Minimum of 3 natural persons or 1 corporate entity. | Minimum of one natural person. |
| Local Annual Franchise Tax – Other taxes | Annual capital tax of 0.1% foundation assets – minimum of CHF 1,000 (approx US$760). | US$300 – Exempt From local income, estate, inheritance or sales taxes. | Distinction between on and offshore taxpayers abolished 1/1/2000 – profit tax of a flat rate of 34.5% applicable to all taxpayers as from 1/1/2000 |
| Beneficiaries – Designation and distributions | Designation covered in charter – Regulations stipulate beneficiaries. No beneficiaries required at outset only designation | No beneficiaries Distributions at discretion of Foundation Council. | |
| Protection From Forced Heirship Claims | Founders’ heirs may challenge validity and purpose of foundations and contributions to a foundation. Courts will recognize forced heirship claims as a matter of public policy | Legalization specifically excludes recognition of claims from founders’ heirs regarding forced heirship rights. Situs of assets important to protect founders wishes. | Founders heirs may challenge validity and purposes of foundations and contributions to a foundation. Courts will recognize forced heirship claims as a matter of public policy |
