Similarly, these assets cannot be reached to satisfy debts owed by the Founder or beneficiaries. Foundations only incur liability to the extent that they have dealt with a party directly. Therefore, if a Foundation conducts no activity beyond owning assets, it will not suffer liability of any kind. The life of a Panamanian Private Interest Foundation is perpetual. Foundations are irrevocable except when the Memorandum of Foundation expressly provides for revocation or, when the Memorandum has not been filed at the Public Registry.
Foundations enjoy the trait of being able to relocate.
This means that, subject to the laws of the host jurisdiction, a Panamanian Foundation of Private Interest may cease to domicile in Panama, but continue its existence elsewhere. Inc. All rights reserved.