Critique and improve this offshore entity

[kyler565]

I'll start off by saying I'm new to this offshore thing and always learning. I would like to setup a lasting structure that I have control over. And a charity as the Benifisiry. The dividend investment returns can compound for years to come without paying a dime to any greedy government.

The structure is a Panama private foundation with a religious organization as beneficiary. The panama foundation will own all shares of a panama corporation and inside this Corporation will be a bank account and brokrage account.

I'm currently Canadian taxpayet but will soon be leaving the country permanently for Colombia. (But this process will take at least 1 year) Would I need nominees somewhere in the structure? My consultant is recommending me use nominee in the panama company and says using the nominee in the foundation is optional. Are nominees really needed? I'm really only concerned with being harassed by tax collectors if using nominees will help with this then I'm happy. I'm looking for the perfect balance between controll ease of keeping the bank accounts open and not get harassed by tax collectors on any income generated

 

[CaptK]

Structure is fine but you need to leave Canada before you put your name to it.

 

[kyler565]

CaptK said:
Structure is fine but you need to leave Canada before you put your name to it.
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Why? Do you mean use nominees to keep my name off it?

 

[bizniz]

Just remember the Panama Registry is public so anyone on the internet can check the Council Members of a Foundation, or the Officers of a Corporation. That is the reason most people use nominees.

 

[kyler565]

So I'll use nominees then. Thanks

@Sols I would like to hear your opinion About the foundation with charity as beneficiary. Do you see problems?

 

[CaptK]

kyler565 said:
Why? Do you mean use nominees to keep my name off it?
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Yes, but if a charity is the UBO then you are simply a Trustee and then it won't matter.