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Image by Annika Wischnewsky

Private interest foundations

 Law No. 25 of June 12, 1995

 

Legal entity with its own name, separate assets from the founder and autonomous governing system. It can be established by one or more natural or legal persons on their own or acting through a third party. 

Benefits

  • A legal structure that facilitates an orderly disposition of assets to beneficiaries after the death of the founder.

  • The foundation's assets become legally independent and do not form part of the founder's private assets, and therefore cannot be seized except for debts contracted by the foundation.

  • It is exempt from paying taxes, except for the single annual rate and the resident agent which is also annual. 

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