The Panamanian Foundation structure was codified into law in 1995. While this structure is a fairly new entity for Panama, the Foundation structure itself has existed in Liechtenstein for quite some time and the Panamanian structure was in fact modeled after the Liechtenstein legislation. It is less expensive to create (A Panamanian Foundation costs less than $3,000 while some firms have charged as much as $10,000 to create a Liechtenstein foundation), it is far less expensive to maintain, it offers more flexibility.
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