Although it can not be dedicated actively to lucrative activities it can occasionally perform and engage in commercial activities and it can maintain asset resulting from lucrative activities of companies belonging to the foundation patrimony. In other words they can not be subject to seizure, except for the foundations own obligations. Similar to trust the foundations can be revocable or non-revocable. Inheritance law form other jurisdictions is not applicable to the foundation, thus assuring total protection of the assets. The foundations are to be managed by a council of which can be the founder or beneficiary.
Nevertheless management can reside in one member of the council or one additional third party.
The council can always be removed by instruction of the founder or the beneficiary. All taxes and duties are exempted when assets are transferred to descendants in first line of the principal beneficiary. Foundations created in different jurisdictions can be redomiciled in Panama and Viceversa. Council members and all parties involved in the management of a foundation are bound by law in confidentiality. Any controversy arisen from the foundation may be resolved in arbitration.