Principal characteristics of trusts
- Allows any person or corporation to segregate an estate to serve specific purposes.
- It can be constituted on assets of any nature, present or future, if the purposes are lawful.
- The assets thus constituted may not be seized or garnished, except for the causes provided for in the Law.
- They can be constituted to:
- Family and business planning
- Testamentary in nature
- Serve as collateral for a commercial real estate development operation
- Investments in different types of assets
- Legal protection of assets
- The beneficiary can be the same trustor
- The trustee agrees to make his best effort to achieve the objective set forth in the trust agreement, managing the assets received for that purpose.
- The trustee is responsible for its action and must report compliance to the trustor according to the terms agreed in the trust agreement
- The trustee acts under the instruction of its clients and is under the supervision of the Superintendence of Banks of Panama.
Swift code: BPDOPAPA
Aquilino de la Guardia Ave. 47E St.
Banco General Tower Floor # 20
P.O. Box 0816-00265
Panamá, Rep. of Panamá
Telephone System: (507)297-4100
Republic of Panamá