What property can be held in a foundation
A foundation adopts its own legal personality and has the scope to open bank accounts and own other companies under the foundations name. In addition, all property held in the foundation belongs to the foundation and no creditor claims against the foundation operators can be made against the foundations property. This ultimately means a foundation is a highly effective and secure asset protection and tax planning business tool, whether it is for the purpose of charitable or non-charitable causes. When deciding to secure your assets in a foundation structure, it is advised that you seek professional assistance to ensure you create the right type of foundation in the most suitable jurisdiction to hold your assets.
For more information on foundation property or to find out how DeltaQuest can assist you with asset protection, please Contact Us.
Foundation property explained
The types of assets or property that can be held in an offshore foundation will ultimately depend on the jurisdiction the foundation is formed in and the type of foundation formed i.e. charitable or non-charitable. Each jurisdiction adopts their own asset protection and tax planning rules and so it is vital that you select the most appropriate country to set up your foundation to achieve your desired outcome.
In general, the types of property typically held in an offshore foundation include, but is not limited to:
Capital
Stocks and Shares
Real Estate
Intellectual Property
Bank Deposits
Business Corporations
Life Assurance Policies
Pensions
By consulting with a professional agency that specialize in asset protection and foundation formation you can obtain a tailor made asset protection solution that will meet the needs of the founder and beneficiaries in the most optimal way possible. It is also essential that the correct type of foundation is formed in line with the intended activity of the foundation and its proposed assets to be held.
Print This Post
